One of the leading full-service investment financial groups, this company provides an extensive range of personal, commercial, corporate, and institutional financial services across North America. This diversified financial services provider offers online banking,
This company’s online brokerage line of business is the country’s leading online brokerage for trading stocks, options, mutual funds, and fixed-income financial instruments. The online brokerage line of business provides its clients with tools and resources for creating investment plans and selecting investments. It is responsible for underwriting and servicing investment cash accounts, margin accounts, and registered retirement accounts.
“Previously, access to the trading tools were gained by the customer only after the mailed application was received and processed by the financial group.”
The underwriting and account maintenance procedures were semi-automated, with applications and forms available online for printing and mailing to the brokerage for processing. In a paper-intensive process, each multi-page application with several attachments would be scanned and manually indexed before being added to the document repository. Agents and managers had to access third-party applications in order to complete the approval and account creation process. Customers of the company could access the trading tools only after their mailed application had been received and processed by financial group.
Adding to the complexity of the process, service level agreement regulations define rules and timeframes for the process. Failure to follow these regulations can lead to substantial financial penalty.