The Galantis Straight Through Processing for Account Administration – GEM/STONE – offering is a comprehensive solution for the automation of new account processing and administration. Built on the IBM Enterprise Content Management (ECM) suite of products, GEM/STONE offers a powerful solution to resolve the problems and inefficiencies associated with manual account opening and administration systems and processes.
With GEM/STONE, organizations can gain competitive advantage by enabling clients to open a new account (the application process) in only 20 minutes or less, including applicant input of information. The solution also improves the quality, consistency and control of the client approval process.
- Improve productivity of critical customer-facing process while driving down costs
- GEM/STONE is a template solution to rapidly implement new account solution
- Includes re-usable core components
- Customer-specific business process cost-effectively implemented
- Competing solutions:
- Large scale projects are often custom projects
- Numerous packaged solutions target small user base
GEM/STONE delivers superior value to account opening and administration operations by:
- Providing a Web-based and customer-friendly user interface
- Establishing a new customer account (approval/disapproval process) after an application is submitted and identity is confirmed in only seconds
- Automating the internal processing and approvals and making agent interaction necessary only as exceptions occur
- Allowing applicants to open and maintain trading accounts in real-time
- Integrating with multiple outside systems that act as data validation points
- Automating version-controlled tracking of data to ensure regulatory compliance
Features and benefits
- The result of that user friendly UI is higher customer satisfaction and dramatically lower abandonment rates. Our customer experienced a 50% reduction in abandonment rate after deployment of GEM/STONE.
- The integration with external and internal applications helps to facilitate regulatory compliance and to reduce risk while greatly accelerating the new account underwriting process.
- The consistency of business process and the tight integration with credit reporting services resulted in a higher quality of new account approvals as tested and proven by our customer.
- The straight through automation of this on boarding process reduces the necessity of human interraction. Our customer reduced their FTE by 12, a significant reduction of cost.
Download: Galantis GEM-AP Mini Webinar