BancaStato Implements Appway Client Onboarding to Boost Efficiency and Assure Regulatory Compliance

June 13, 2014 - PRLog -- On April 1, 2014, BancaStato completed a renewal project for its banking platform and installed Appway Client Onboarding in order to cut operational costs and improve management of the entire client lifecycle. Now, the bank is benefiting from increased efficiency, compliance, and greater transparency thanks to Appway’s Client Onboarding Solution.

BancaStato, the cantonal bank of Ticino, Switzerland, chose Appway among other competitors for its reputation as the global leader in client onboarding for the financial services industry and its ability to seamlessly integrate with their core banking system, Avaloq. With an office in the region, Appway took part in the 19-month collaboration project.

“Collaboration with Appway employees has always been very professional and rewarding,” said BancaStato manager Mirko Zoppi. “And every requirement of the bank has been satisfied.”

Each and every step of the client lifecycle is is automated with Appway for optimum efficiency. At BancaStato, Appway Client Onboarding guides users through a wide range of cases, a level of flexibility of particular importance to Banco Stato as it offers both retail and private banking services at 10 locations to over 100,000 clients. “We have an automatic compilation of legal documentation of the customer base and task management is now easier and more intuitive,” said Zoppi. The bank’s goal was to begin a business relationship and onboard a new client in just 7 minutes – a goal that was swiftly achieved with Appway Client Onboarding.

At BancaStato, Appway supports the institution in adherence to global and local regulations and tax policies. The solution automatically flags potential risks to ensure that all the necessary steps are taken to safeguard BancaStato’s reputation and reduce operational risk. And with Appway Client Onboarding’s full process traceability, all those involved have insight into the client lifecycle status to better track and monitor progress.