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CLM NextGen: Digital-First Banking Made Easier

Enhanced customer experience with compliance compatibility

CLM NextGen:
Digital-First Banking
Made Easier

Enhanced customer
experience with compliance
compatibility

What is CLM NextGen?

Banking operations can rapidly become complicated, time-consuming, and costly when they need to hire extra staff just to keep up with the growth. However, some tools enhance the quality and security of onboarding and dynamic verification processes to deliver a consistent customer experience.

Client Lifecycle Management or CLM is one such tool that helps manage the banking clients’ lifecycles, encourages client retention, and boosts the bank’s profitability. CLM focuses on a complete chain of client transactions and is designed to generate easily-digestible results. While CRM helps preserve clients’ data, CLM helps preserve the client itself.

Automate and scale
your banking operations

How does CLM work?

It is a highly modular application that allows only desired components to be picked and plugged into an existing CLM landscape seamlessly — thus allowing financial institutions to optimize their operations with a short lead time and cost-effectively.

AUTOMATES KYC

Automates KYC refreshers and remediations for existing customers

FACTA ENABLES

Enables FACTA, ALM, CRS, and credit checks for new clients

FASTER ONBOARDING

Faster onboarding with self-service capabilities for forms and documents

SMART DATA CAPTURE

Smart data capture using OCR

Why CLM NextGen

CLM NextGen solutions powered by Pega help banks automate and scale up their banking operations and boost efficiency by providing a centralized view of all their banking activities across various accounts and countries.

In addition, the solution provides finance companies with a comprehensive and secure system that will help them acquire more customers and manage KYC requirements in compliance with banking regulations.

The solution has been developed by Areteans Technology Solutions, a provider of business services and solutions to help transform them and evolve digitally by executing Pega implementations. In addition, Areteans focuses on developing solutions that help clients proactively collaborate with customers.

Automation of Banking Operations

Customers engage with a bank across institutional banks. But siloed systems and lack of transparency can create gaps in customer servicing. However, clients expect quick and tailored experiences, so banks are trying their best to eliminate legacy systems and manual processes and bring in automation in their banking operations.

The banking sector, through automation, intends to streamline its processes. As a result, some banks are looking at a new generation of regulation technology (regtech) solutions as a silver bullet to ease the log- jam of data and processes. But regtech must be supported by proven technology that is part of a larger fintech strategy.

When existing systems cannot be directly integrated, then RPA comes into play. The RPA can be fully embedded in the CLM and KYC applications of fintech organizations to coordinate and automate how KYC and CLM processes work. The main aim is to activate multiple data sources and applications in such sequences that help augment the work to be done by the client onboarding team.

RPA captures data from legacy systems and collates it to form a single customer view across geographies and lines of banking business. Banks are turning to the robotic approach as part of a cybersecurity setup to reduce FTEs, cut down errors to zero, and speed up the time needed to implement them as part of banking operations.

Automation within CLM and KYC applications enables the banking sector to intelligently optimize how the work is carried out by humans and robots. The use of a centralized and globally scalable end-to-end solution helps seamlessly infuse robotic automation within the banking operation for onboarding and KYC transformation.

Fintech organizations like banks and finance corporations can run tasks unattended, thereby ensuring that all extenuating risks are taken care of and that these meet all regulatory requirements as mandated by the government and regulatory authorities.

In addition, this automation helps banking and finance sector employees be more productive by freeing them from somewhat tiresome processes linked to KYC verification and focusing more on delivering better customer service.

Automate and scale your banking operations

Insights

Ready to get started?

Request a free demo today

Testimonials

“Areteans stepped in at the right time when we needed to upgrade our technology and process infrastructure. The team worked seamlessly with us to deploy robust technology and build a unified portal to manage our operations, even in the difficult times of the pandemic.”
Parthasarathi Chakraborty
Vice President, ITGI
“Areteans stepped in at the right time when we needed to upgrade our technology and process infrastructure. The team worked seamlessly with us to deploy robust technology and build a unified portal to manage our operations, even in the difficult times of the pandemic.”
Parthasarathi Chakraborty
Vice President, ITGI
“Areteans stepped in at the right time when we needed to upgrade our technology and process infrastructure. The team worked seamlessly with us to deploy robust technology and build a unified portal to manage our operations, even in the difficult times of the pandemic.”
Parthasarathi Chakraborty
Vice President, ITGI

To share our similarities and
celebrate our differences

Download your free brochure here

Client Lifecycle Management or CLM is one such tool that is an analytical process that helps manage the banking clients’ lifecycles, encourage client retention andboost the banks profitability.

CLM focuses on a complete chain of client transactions and is designed to generate easily-digestible results. While CRM helps preserve clients’ data, CLM helps preserve the client itself.

Reach out to [email protected] to know more.
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