Tag: automation

An AI for banks is a program that can make recommendations about loans, credit and other financial products. It can also help to manage customer interactions, including providing advice and answering questions. Some AI for banks programs are even able to learn over time, making them more effective at providing banking services.

One way that artificial intelligence can improve sales is by providing banks with accurate and up-to-date information about their customers. This information can help banks to better target their products and services to specific customers. Additionally, AI can help to automate the process of sales, which can speed up the process and make it more efficient. Finally, AI can also help to identify potential sales opportunities, which can lead to increased profits for banks.

man using MacBook

How a KYC risk rating can help your company?

How a KYC risk rating can help your company?

If you’re working in the financial business you obviously know what KYC means KYC means Know Your Customer. This is an important process that allows financial institutions and any business to verify the reputation of their prospects and customers.

This type of process is extremely important to make sure that the parties you’re working with. It is also a way to reduce high-risk prospects and terrorist financing. Terrorist groups need money to sustain themselves and to carry out terrorist acts. Terrorist financing encompasses the means and methods used by terrorist organizations to finance their activities.  Institutions gather as much data as they can about their customers, and they then compile this into a portfolio.

Medium Risk (CDD – Customer due diligence) or CDD is the key part of anti-money laundering requirements. 

man using MacBook

What is KYC Risk Rating? It’s not for financial institutions only!

KYC risk rating is a way to calculate the business risk. Each question will find an answer with a number of points. By adding or multiplying those points, you will measure the prospect risk level. This process is obviously used for politically exposed persons, dangerous customer activity, transaction monitoring and electronic identity verification. We have been working also with ScoreChain affect that measured reputation of digital wallets.

Once the portfolio is completed, they closely analyze the information that they have obtained, and they determine the KYC risk rating of that specific client. 

InvestGlass digital onboarding forms are fully customizable to adapt your process with your KYC compliance regulations and any global regulations. We work with your legal department or external consultants to help you adapt those forms to your diligence program.

With the new European directive on anti-money laundering, most companies should check financial transactions above a threshold of €10,000. A risk-based approach will vary based on your industry but we believe that anti-money laundering screening will be a common process in most industries.

woman in gray hoodie wearing white face mask

How KYC Risk Rating Works

Anyone in your company from your senior management to fresh interns should understand financial crime basics. Financial institutions are required to closely monitor clients’ activities. Obviously, it’s not that easy to measure ongoing monitoring, and risk rating is a smart way to prevent a discriminative approach. Risk factors should be identified with a scoring. Each country has its own risk assessment and KYC risk rating. A deep understanding of the risk identified might not be needed by all your colleagues. Therefore we suggest you digitalize as much as possible with InvestGlass. The customers’ risk profile will then be stored directly into InvestGlass CRM. If you’re using a third-party solution such as ARDIS POLIXIS, the CRM will also store automated risk assessments by this third-party contact. Customer data and then stored into a banking grade CRM.

KYC Risk Rating: Automation vs. Manual – make customer due diligence affordable

Financial crime is not only about the reputation of your customer. Financial crime it’s also enhanced due diligence on transactions. KYC risk rating allows for financial institutions and your business to quickly and efficiently lower risk. Only automation can filter risk for vast amounts of data.

The entire process should be as automated as possible. Having no tomato process it’s also a way to reduce the financial action task force. I remember Bank telling me that they included assets in the management by X10 and their compliance staff the same. Spotting abnormal transactions is quite easy as the InvestGlass portfolio management tool can measure abnormal transactions.

If a client’s transactions begin to diverge significantly from the institution’s predictions, the institution will be notified and they will be able to further analyze the transactions for suspicious behavior.

The portfolio management monitoring looks into financial institution feeds collected and processes the information with threshold filtering. Thanks to this collection of feeds, Investglass can automate customer screening. Artificial intelligence automatically features customers by high-risk, medium risk, low risk. All your customers are automatically reviewed by the machine. Based on a routine that you can set up on a monthly or annual basis, clients’ accounts are closely monitored. Obviously, there might be some money launderers that will not be visible. Therefore, a randomized manual check will always be priceless to make sure that automated KYC procedures are effective.

KYC Reasonable Reassurance and customer risk


Compliance officers and ledges straighter’s will always push for a deeper understanding of national governments intentions. Checking accounts should be seen as a cost and if a KYC rating is too complex the prospect, nowadays, would obviously know that it’s going to be complex to proceed with an account opening. Diligence measures will be applied to what cost?

Financial crimes will definitely be spotted as easily as a politically exposed person. Understanding the entire client portfolio and transaction will also be easy to access. But there will be some risk levels too difficult to spot. And your business should quickly reject high-risk customers to reduce the cost to reporting entities. This can be an ongoing process, as existing customers have the potential to transition into higher-risk categories over time; in that context, conducting periodic due diligence assessments on existing customers can be beneficial. 

Making Predictions with KYC Risk Rating and money laundering

KYC risk rating once properly used with InvestGlass tour will help you to predict prospects’ quality. Financial crimes-related prospects Will automatically reach your maximum risk ratings thresholds. And then compliance professionals will help you to find an average risk tolerance that will be suitable.

Financial institutions will therefore future customer risk based on the origin of the assets and risk factors that are unusual or suspicious will automatically receive a higher risk. As you’re collecting customer data, enhanced due diligence will be possible and you will adapt your digital onboarding forms.

The transaction monitoring as well as the digital onboarding forms have configurable rules engine to monitor patterns of suspicious behavior. InvestGlass compliance solution is made for early-stage companies and large institutions.

automation, CRM, KYC

woman in black long sleeve shirt holding white smartphone

What problem does digitalization solve? Myth, Cost, Adoption

What problem does digitalization solve? We are looking forward to seeing you at this unique presentation organize with Investglass CEO Alexander.

During this presentation, we will highlight our latest findings in digitization trends what are the cost of digitalization and most importantly how to get your digitalization implemented right.

What problem does digitalisation solve? Myth, Cost, Adoption

What is the impact of digitalization?

Why is digitalization necessary?

Is transparency the magical cure to trust?

What are the challenges of digitalization?

How does digitalization affect banking, insurance and sales?

Digitalization is not only for client-facing as you might think it’s also inside your organization. You will discover that building a robot advisor means getting a plan B ready for those reluctant to this type of onboarding.

Therefore we will illustrate this presentation with specific use cases in the banking, insurance and sales brokerage industry. We will see how automation and approval processes can effectively enhance your productivity. We will look into the setup patterns to make sure that you are automation and digitization will reduce any type of friction. We will debunk the known and unknown apprehension in this digitalization process.

The digital tools can be connected to InvestGlass CRM.

automation, Digital onboarding, fintech, KYC

doctor holding red stethoscope

How to Build a Healthcare CRM in Simple Steps: a Guide

If you are looking for a healthcare CRM that is easy to use and can make your business more efficient, then this article is for you. This particular guide has been written with the beginner in mind and we hope that it will help those who are new or struggling when it comes to building their own health care CRM systems. We have compiled an in-depth guide to building a healthcare CRM that will help you get started.

What is a healthcare CRM: A customer relationship management software enabling professionals in hospitals and private clinics to cater to the customers better and enhance their communication paradigms with existing patients. This category of crm software applications allows a caring environment where patients are more closely involved in their own healthcare, particularly in deciding and choosing the medical crm software provider they want.

Below we will explain further what are the steps in creating a successful healthcare crm software in order to automate the business processes so that to increase patient satisfaction within the healthcare industry.

Step 1) Healthcare CRM software development

If you choose to outsource the crm development company, you need to clearly identify what are your needs and how your CRM will look like. Another issue that might arise is the outsourcing destination. In which country the development and maintenance of your crm system will be held. The main criteria for evaluating and selecting the best outsourcing destination are agency rates, time differences, approaches to work, cultural differences, and English language knowledge. On the positive side, having a custom crm will give you the freedom to create exactly the crm system you are dreaming of.

Step 2) CRM system budgeting

In order to build a successful healthcare crm system, you need to clearly identify your costs. By setting a specific budget you are always in control of the potential costs and can give an approximation of the maximum budget for specific services, for example software development. When selecting for a software development company, you need to put quality first. There might be a company that charges more but puts quality first and prevents you from having to pay twice later.

Step 3) Features and customer relationship management

Hospitals and clinics are not the same, the same applies to their needs. There is no one-size-fits-all set of features to include in every healthcare CRM. You should carefully make a market analysis and identify what are the features needed for your target audience. From electronic health records and patient data management to appointment management among the healthcare providers. Another point to keep in mind is the crm implementation among the staff of the companies. There needs to be sufficient training in order to familiarise with the crm platform.

Step 4) Build a talented team

In order to build and also sustain a successful business in the CRM industry, you need to invest in people. You should find experienced developers creating custom crm solutions and updating the system. Additionally, you should invest in your custom crm development by finding a great sales team to expand your business.

The global healthcare CRM market is lately developing at a higher rate than previously. This is created by CRM solutions recognizing the current necessities of healthcare providers and healthcare professionals to cope with business data. The current pandemic exacerbated the trend and healthcare organization demands electronic health records.

InvestGlass approval processes can automate the entire workflow and ease staff administrative burden. Monitoring characteristics can also help assess staff performance as well as their involvement and feedback. Post appointment feedback surveys can automatically be filled and send to patients as well as automating the creation of contact reports for each stage of the patient’s journey. The CRM tools are bundled to a patient portal which is key to collect patient intake and share medical billing, medical histories, and more. Indeed the patient is king! Patient records are easily accessible for existing patients and the creation of records is quick and effortless. 

If you are looking to create your own healthcare CRM and improve your company’s customer relationship management efforts, InvestGlass digital tools give you the ability to create custom CRM software for your needs without any coding knowledge required. InvestGlass’s adaptability is key when considering the platform’s role in the healthcare industry. Contact us Today!

automation, CRM, fintech, sales automation

black mail box

How to Find a valid Email Address: 5 steps Guide

Are you looking for a way to grow your prospect network? Do you want to find a valid email address in order to reach out and build relationships with potential clients, partners, or vendors? If so, then this article is just what you need. We will discuss 5 common ways that people find emails addresses online. You’ll also find tips on how to verify the validity of each email successfully contacted.

Step 1: Manually search for a personal email address online

This is a very common way to find the company or personal email addresses. It involves searching through publicly available email addresses (usually generic email address) or contact info, such as name and company names from public sources like the company website, LinkedIn connections, or Facebook profiles. You can also search social media networks, forums, and other online databases of contacts.

Step 2: Use email lookup tools to extract a personal email address

In order to facilitate your email address search, you can use an email finder tool that will extract emails from the social media profile you are visiting, or from a list of social networking sites. An email extractor will automate much of the process, by finding and collecting valid email addresses on the website for you. Some of them come with syntax and format checkers that will automatically make corrections to the lead lists they generate.

Step 3: Use tricks to manually find hidden emails addresses

Many social media users attempt to hide their email address from bots that crawl google search operators for emails. These users though; still share their emails to these platforms. To do this, they replace the “.” or “@” with “dot” or “at”.

This way, bots programmed to crawl websites and collect valid emails will skip these, as they are not formatted like an email. To get around this, you can simply search social networking sites (LinkedIn, Twitter, Facebook, Instagram, and more) with a ‘name’ and ‘dot’ + ‘at’.

Step 4: Locate contact information through an email guessing tool

If you cannot afford an email finder tool, the best alternative that most of the time is free is an email guessing tool. These tools can guess a person’s email address by predicting potential email variations based on the information you provide. Ideally, you’ll need a little bit more than just a name, such as a company or domain from the same company that this prospect is working for.

Step 5: Communicate with the prospect company and politely ask for it

Sometimes it is very difficult to search historical tweets or export linkedin connections in order to find an email address. There are cases where the best thing to do is to communicate with the company reception or the relevant department and politely ask for the email address of your prospect. It is very I’mportant, to be honest, and inform of your intentions.

When you have collected the list of your prospects’ emails, it is time to target them in order to generate more potential sales! InvestGlass provides the tools to make email marketing easier and more efficient. Through customized marketing emails you can send hyper-targeted messages to your prospects or customers. You also have the possibility to respect GDPR regulation via the audit trail system capturing customers’ consent and preferences. Fill in our contact form today to learn how we can automate your business.

automation, email marketing, sales automation

person sitting while using laptop computer and green stethoscope near

6 Steps on How to Create a Successful Professional Invoice

It is important to create professional invoice templates for your business so that you can make a sale. In this blog post, we will go over six steps on how to create an invoice that is both easy and affordable!

An invoice is a document that records an organization’s income. It details what was sold and how much the sale price was. This post will teach you how to create a professional invoice template in 6 easy steps!

1) Invoice templates

Determine the type of document needed – do you need a formal or informal document? Creating invoices formally is typically used when there have been sales made between two businesses with different levels of authority. When you create invoices are typically used for personal transactions like buying something at the store, these are called informal invoice. There are online, multiple free invoice templates to choose from in order to be able to start building your own invoice for your business.

2) Customize your business template

In the past, a small business didn’t have access to an online free invoice template. Nowadays, there are numerous online sources where you can customize your personal or company invoice. You can change the color, the format, the spacing; but also the contact information or add your company logo.

3) Invoice number

If you want to write an invoice you should always include the invoice number. The best way to organize your business and accounting office is by invoice numbers. Through this process, usually performed by invoice software, you can have a business better organized, more efficient who gets paid faster.

Decide what information needs to be included on the form – depending on which type of document you’re creating, there may be certain pieces of information required by law or necessary in order for someone else to pay you. You should also specify your payment details and terms. You can set your payment terms to be due upon receipt of the invoice, early payment, net 30 days, or some other arrangement you have with your client., for example, overdue invoices for a specific payment due date.

5) Invoice date and signature

If you want to create professional invoices, the company name and address is required; however, if it’s a personal transaction then just the first name of the person needs to be included here. Your date and stamp will let your clients know when they are expected to pay, so this is crucial for all invoices! You’ll also want to include a place where you signThere, are the three main types of payments terms small businesses use.

6) Notes on professional invoices

By deploying invoicing software to your business you can also incorporate a personal note at the end of your invoice. Write a simple and personalized note to leave a good impression on the client and increase the chance of an invoice getting paid faster. There you will include payment instructions, warranty information, or discount details.

It can be hard to keep up with all the tasks that are required when it comes to creating and invoicing your customers and clients. With InvestGlass digital tools, we make this process simple for any business or freelance professional by providing our invoice generator and CRM tools. Now there’s no excuse not to have professional-looking invoices on hand at all times when you need them most.

Let us know how we can help, through our contact form today!

automation, business process, CRM, invoice

Lego unicorn toy

Wanna Be A Unicorn? Start with Invoicing Automation

Invoice automation

Ever wondered how much time you are losing not automating processes that could be done faster and better by a machine? The administrative burden has become an inefficient killing method for employees and companies. More especially, the management of payments and invoices is time-consuming and demands an automated workflow. Manual invoice processing limits your organization’s ability to detect duplicate or late payments, which could lead to overpayment. Automated invoice processing means all invoices can be automatically stored, assigned to the proper workflow and routed electronically for approval – keeping your finances circulating without interruption, no matter how many invoices you have.

The manual invoicing process can create many issues which can be summarized around the following flaws: 

  • Workforce: manual invoicing demands employees and human power which could have been used for another more efficient task.
  • Time management: invoice management and approvals take time.
  • Data monitoring: data has to be entered manually which increases the risk of false entry and missing or wrong contact information.
  • Costs: Data issues can generate additional costs as well as missing revenue.
  • Lack of clarity: Manual invoicing process lead to unclear invoice status and issues in text assessment. 

An obvious solution can help with these issues. This article focuses on automation and how to develop an automated invoicing process.

Create invoices: the influence of accounting!

Business processes and online payments usually imply paper invoices and extensive administrative burdens. Whether you are using paper or electronic invoices, all your invoices can be derived into two types:

  • The accounts receivables and unpaid invoices
  • The receipts and business finances

Accounts receivables for automated invoice processing

Even if small businesses and business owners usually work with quotes, the common usage is to send invoices when dealing with B2B professionals. Invoices work as payment requests, represent the amount due by the client to the company, and explain the details of the operation, the due date, and the late fees, if applicable. An invoicing system before payment is usually used to improve forecasting and, thus, improve cash flow.

In accounting, the invoice represents the “accounts receivable” for the company and the “accounts payable” for the client. The invoice essentially works as a payment request to be completed within a certain period (15 or 30 days for example). Late payments are subject to penalties and discounts are usually applied for paid-early customers which push clients to pay faster. However, manually routing documents can lead to further delays and even lost invoices.

Receipts and payments of automated invoice processing

Receipts are usually used to guarantee the customer that the transaction occurred correctly without any issues. On the company side, it allows correct accounting, record keeping, and acknowledgement of the transaction. The receipts are common in multiple commerce such as grocery stores or online shopping.

Ways to automate tasks within your invoicing processing

There are multiple ways to automate your invoicing process and enhance efficiency. Depending on your business needs, you may want to:

  • Use an all-in-one solution like InvestGlass Invoice automation solution,
  • Use a dedicated automation tool, or
  • Rely on native integrations and features present in some of the apps you already use.

The plurality of methods enables you to select the one which makes the most sense according to your business model and size. Keeping this in mind, this article introduces six ways to automate your invoice management system.

1. Store data entry for invoice processing

During the sales process, sales teams usually gather an important amount of information on customers, prospects, and clients. This information is then used to minimize the work of other team members such as invoicing clerks. This is where automation and more especially CRM software will move in. Sales automation via forms shifts the work to the client instead of the employee. Besides, gathering data and payment data within a CRM will prevent double entry by reusing this data at a later stage of the sales process. Workflow Automation Automatically manages approval workflows and routes exceptions for review while maintaining a data trail of all handoffs between people and automation. The objective is to reduce costs and manual data entry with automated processing invoices. A good ERP system should include account payable workflow automation. Payment processing and cash management are recorded as well as early payment discounts. Artificial intelligence can also help to scan with optical character recognition or OCR technology – machine learning AI.

A CRM is a customer relationship management software easing team management, task management, contact management, and invoice management.

Connecting your invoicing tool directly to your CRM, via API or integration, will save valuable time as the invoice management system will directly feed on data coming from the CRM, removing double entries by employees when creating invoices.

This will impact directly time management, data management, and correctness as avoiding human error in data recopy/entry. 

2. Generate PDF and store it for bookkeeping

The corner point of an efficient invoice management system is to keep a trail of your financial operations, be it on paper or electronically. Indeed, keeping record ensure payment, secure auditing, and transparency. Having a clear view of your receivables enhances:

  • your capacity to send follow-ups and reminders,
  • your ease to match auditing requirements, and 
  • your transparency in front of your customers and governing bodies.

Automation software will do all that for you automatically by saving invoices into PDFs in the relevant folders. You can then access the necessary information at all times, from anywhere.

This is where a complete CRM becomes interesting as the software can save invoices in the relevant contact to which they belong. Additionally, it saves an audit trail in case of accidental invoice removal or deletion. 

InvestGlass automation feature enables generating PDF automatically from invoices and storing them where needed. The platform can also send them to an email address or portal for safekeeping or to share with clients.

3. Automated invoice processing software

Within integrated solutions as well as adds-on, forms are a core feature. Indeed, they enable easy data submission and, sometimes, shift the workload to the client. However, when shifting the workload, great care and focus should be put upon client experience and engagement.

Besides being usually filled by the clients forms are also delivering other benefits such as consistency, user-friendliness, and custom designs. Digital form information is directly mapped within the CRM and can be easily reused by your employees’ team, while the custom design and the simplicity of data entry will keep the client engaged.

From these forms, invoices can be automatically generated via an automation feature. The only mandatory information is:

  • the currency, which can be selected per default to avoid issues,
  • the due date, which can be decided upon digital form submission, and
  • the invoice number, which can be generated randomly.

Once this information is filled in, the invoice is generated and can be communicated to clients or prospects.

Recurring invoices

Using InvestGlass’s automation possibilities, recurring invoices can be set up for long-term clients on a periodic basis such as on a monthly basis. This helps in avoiding errors and forgetting to send them. Yet, this also prevents retyping the information. The time period, as well as recurrence, can be decided manually for each client. 

This automation has an important effect on accounting and budgeting. Forecasting the cash flow and keeping a healthy cash flow has never been that easy.

4. Automatically send emails 

Sending an invoice when generated may seem like an easy and straightforward task. Yet, human error exists and time consumption has to be considered.

This repetitive task can be easily avoided and automated by creating and sending emails automatically upon invoice generation. Your employees can automatically generate and create an invoices-based email with customizing variables using the contact information. Yet, the email body and subject have still to be specified using a pre-made or customized template.

Once the email is sent using information from the accounting software, the relationship manager in charge of the relevant contact will receive instant notifications.

5. Set up tasks and reminders

Emails ensure that accurate invoices are received promptly. Automation can be created to send automatic reminders to avoid late payments. Whenever a payment is not paid, an automatic reminder may be sent, instead of manually creating and executing a late payment workflow.

Besides sending automatic reminders per email to the clients, reminders can also be notified to company members. This enables them to check with the customer whether everything is fine on their end.

Invoicing tasks can also be automatically recorded upon invoice generation and completed once the invoice is paid. Admin tasks and other tasks are simply notified to the employee.

This type of automation is important as unpaid invoices can negatively affect your cash flow.

Bonus: The perfect Invoice management system

The ideal invoice management system would regroup all your invoicing tools and sales tools in general. CRMs and all-in-one solutions regroup invoicing systems and sales marketing automation/data management offering the best alternative to companies aiming at invoice automation.

InvestGlass can be applied to your entire company and help to monitor your employees’ performance via time tracking. This is increasingly important for invoicing as the response time can be assessed and the workflow adapted.

At the same time, while improving your invoicing, a CRM will replace your google sheets or your google spreadsheet used to manage to send invoices. Send invoices simply and add business tips and discounts when necessary.

Conclusion of invoice automation solution

Automating invoices is an important part of the accounting process and doesn’t need to get in the way. At the end of the day, business is about providing services and products for your customers. We hope the tips will help you focus on what matters most. To automate, you’ll have to keep an eye out for details about how to work around your accounting. InvestGlass offers a cloud-based platform that automates workflows. You can build custom workflows fit invoice management. This solution will help your finance team do more important tasks.

InvestGlass has an API to connect to another accounting system. Why? because processing workflow should handle recurring billing and specific VAT elements you might already have with your accounting team.

automation, CRM, invoice

person holding black iphone 5

How Robo Advisory Tools Are Causing Fee Deflation and not Fee Collapse

As always, it’s all about scarcities and productivity

For many years, we heard that robot advisory would kill banks, and cause fee collapse. After five years of advising wealth and asset managers, we have seen a very different picture. Clearly, digital habits changed the behavior of some clients and their advisory nature. Self-service is desired by some. You can scan your items in a supermarket, but you can still cue and have a supermarket cashier taking care of you.

What changed in five years?

We noticed that profitability fell from an 80 basis points to 65 basis points. Robot World charging 0.25% or less did not revolutionize traditional wealth management; managing historically at 1%. Profitability fell but operating profit margins remained quite steady regardless of the size or location of the wealth advisor firm…. with or without MIFID2. Therefore, I’m quite skeptical of the merge, grow or die message we hear every day since MIFID2 in Europe and with the new Swiss LSFIN in Switzerland. Most companies we are working with are working in a low fee environment for many years now… The next frontier is not fees decrease, it’s economy of scale and domino effect. Firms want to build their fintech Appstore. Firms want to connect to cold storage solutions for crypto trading. Firms want to onboard clients like a neo-bank. Wealth and asset managers to become what we call today banks? Gartner said that most banks will be made irrelevant by 2030

Would fees increase again? Perhaps. We have seen an increasing demand for high-quality and complex services. The fee increased in the internet SAAS business when customers were seriously upset. (Something, I would suggest to a firm offering the Revolution to a debit card). Race for new yields and little engagement in the equity bull rally turned banks and advisory firms to offer real estate synthetics and private equity to anyone… Yield, risk, service quality or firm profitably? 

Clean, transparent, plug and invest

The cost of doing business is driven by the offset of non-core operations. From the UK, France, to Singapore, we are seeing clients using third-party chief investment officers – externalizing as much as possible investment process and levering robot techniques to rebalance portfolios at once. This trend is not fee compression but fee deflation!

Another reason for the externalized resources is the lack of talents. In Switzerland, we clearly face a serious problem: bankers are melting like our glaciers! How to regenerate a population of aging wealth and asset managers? Switzerland is not the only place where this talent shortage is blatant. In the United States, CFP certificates are severely lacking too.

This is quite ironic, the potential threat to the profitability of advisory firms today is not the “RAISE” of the robot advisor nor fee compression but simply the fact that there are not enough financial advisors to aggregate and grow the capital.

In France, MIF & “trading-related tax incentives” are pushing wealth managers to connect themselves to externalized allocators, limiting their universe to authorized securities, carefully curating “clean shares” from pre-approved assurance companies. What a world of transparency. In France, if you wish to invest in a tax-optimized US equity fund, you can choose only two funds! Therefore, wealth managers are rebuilding model portfolios into SMA separately managed methods. InvestGlass is used as a link between manufacturers of ETF, allocators of models, wealth managers, and their custodian/insurance companies: a transparent model portfolio produced in Nice, managed in Lyon and sold in Paris with a settlement in Luxembourg. What a jumping rope synchronization…

In Switzerland, fear of LSFIN is pushing wealth and asset managers to equip themselves with digital solutions. M&A operations are clearly a trend here for smaller firms being tucked into larger wealth managers. This trend is not always a guarantee of the economy of scale. The trend is set for larger blends and no firm below EUR 50 million could survive in a MIFID environment however we think that getting an InvestGlass EUR 3’000 per year will get your productivity level quite far. No need to reach EUR 2 billion under management.

Workflow Optimized to Help you Save Time

We foresee four trends, the first is going to be connectivity. Across the wealth management firm you are going to see people doing due diligence and exchanging notes and a selected list of securities. They need tools to be ready on the field. Then you have the CIO or allocator team-building model portfolios. You can do it into InvestGlass with our fintech-regulated CIOs and then exchange them across different members of your team. This trend could reach a point where each client has his own robot advisory model. Something we could call separately centralized advisory. “SCA”. This makes the process more seamless, moving you out of emails and excel where information gets stale and people get frustrated. Then you see the A.I part, where data is leveraged to enhance and customized each investor experience. The modularity of widgets coupled with AI offers a truly unique experience.  The last trend is risk analytics, where we leverage a web-based tool and more A.I. to reveal regulatory blind spots. Automated workflow is a response to improve your team productivity.

What do you think? Are you seeing the same pattern in your firm?

automation, baas, how to onboard a new client on institutional banking, robo adviser, saas

blue and yellow star flag

What is the 6th Anti-Money Laundering Directive?

Wow 5MLD was nearly done and now as the EU announced a sixth directive. EU money laundering directive is more sophisticated and extend criminal liability. We summarise here the five key elements. The new 6AMLD is due to be transposed into regulated entities and national law by December 2020. The 6AML will apply to crypto too.

In the past years we have seen successive money laundering scandals on European soil where judicial supervision had troubles chasing tax crimes. 6AMLD is needed to provide greater clarity and harmonisation across EU member states and link it to UK legislation too. 6AMLD, as a new money laundering directive will also serve to increase member states’ obligations when it comes to making reports.

What are AML or requirements?

1. Dual criminality for specified offenses & greater co-operation

European member states’ competent authorities will highlight six offenses in an organized crime group and racketeering, terrorism, human trafficking and migrant smuggling, sexual exploitation, illicit trafficking in narcotics and psychotropic substances, and corruption. This will include cybercrime-related sources.

2. Harmonisation of money laundering offenses

The new 6AMLD lists 22 specific predicate offenses, which are particular criminal activities that serve to enable more serious crimes. With the introduction of 6AMLD, there is now a single definition of predicate offenses across all EU member states. To combat money laundering firms will have to collect corporate information digitally. Asking for financial proceeds and potential money laundering activity information is always a challenge for banks and asset managers. Regulated bodies of course are trying their best to prevent criminal prosecution but it’s difficult to get the real info. Perhaps gamified and financial incentives could convince potential corporate offenders to play the game!

European Union money laundering offences and criminal penalties

  • Corruption and tax crimes relating
  • Counterfeiting and piracy of products
  • Counterfeiting currency
  • Environmental crime…
  • Extortion
  • Forgery
  • Fraud in domestic legislation
  • Human trafficking and migrant smuggling
  • Illegal arms trafficking
  • Illicit trafficking in narcotics and psychotropic substances
  • Insider trading and market manipulation and public funding
  • Kidnapping and hostage-taking
  • Murder and grievous bodily harm
  • Participating in an organized crime group or racketeering
  • Piracy
  • Robbery and theft
  • Sexual exploitation
  • Smuggling
  • Tax crime relating to both direct and indirect taxes
  • Trafficking in stolen goods

Tracking – email marketing tools will be mandatory to ask more questions to prospects and clients.

The biggest change is the extension of criminal liability to legal persons for example companies. EU members state will enforce sanctions that may range from a temporary ban through to permanent closure. Consequently, individuals in key positions can also be held accountable for failings, such as inadequate supervision, control, or oversight which results in money laundering and face additional sanctions.

Cessation of funds is an example in the EU directive of sanction. The directive stipulates to end business relations with any bank or financial institution who will have willfully failed to apply due diligence in their publicly available policies for preventing money laundering or terrorist financing.

Essentially, it means is that the burden of proof now lies with the legal person to demonstrate that they took sufficient steps to prevent money laundering from taking place.

With this COVID19 and debt situation, we can also imagine that EU member state will create centralize legal proceedings database to facilitate anti-money laundering data and enforce tougher punishments.

4. A tougher punishment regime for criminal offence

These increased sanctions are in line with the ECAF ( European Council Anti-Money Laundering) recommendations from December 2017. They also fit into the new EU AML Directive which is set to come into effect this month, June 2018.

5. Additional offences such as aiding financial crime

6AMLD broadens the scope of money laundering offences. As a result of the above measures the European Commission has adopted a package of rules to criminalise money laundering and terrorist financing. The regulations implement, in principle, the existing directive by extending its scope to cover all activities which could raise concerns over their criminal purpose and increasing the maximum penalty for money laundering and terrorist financing offences from 1 to 10 years.

6AMLD contains far fewer changes than 5MLD. It requires businesses to be a lot more proactive and more cooperative with financial sector. The new regulation is upgrading existing legislation.

blue and yellow star flag

Obviously, the extension of criminal liability to companies and business leaders alike makes it imperative that compliance gaps are identified and rectified fast. AML regulation is always a big topic for companies and banks as they have little flexibility on the CRM and KYC tools.

We are happy to help with InvestGlass as we are cooperating with financial institutions to tackle money laundering through systematic CRM automation for legal purposes.

Fintech Automation for Remediation is key to regulatory burden and the solution for regulated businesses

Financial institutions can now leverage pre-built templates with InvestGlass solution and connected tools such as Polixis ARDIS or Onfido directly connected to InvestGlass CRM. The bundle offers a ready-made tool to cope with 6th anti-money laundering directive for automated remediation. Further AML regulation will come and with the open – stack you will have the flexibility to extend to new directive’s measures.

5aml, 6aml, automation, finech, KYC, money laundering

three crumpled yellow papers on green surface surrounded by yellow lined papers

Can a CRM replace marketing automation software?

Can a CRM replace marketing automation software?

What is marketing automation software? A marketing automation software is a solution designed for marketers. Such a platform is supposed to enhance lead nurturing, improve marketing efficiency, and analyze campaigns. Nowadays, more and more Customer Relationship ManagementCRM – software is competing with marketing automation software as stepping on their functionalities and, thus, clients. Yet, these two tools are diverging in their goal. CRMs aim at managing teams and clients when marketing automation aims solely at improving the relevancy and conversion rate of marketing campaigns. CRMs have only basic marketing automation.

We have seen amazing email marketing tools but most of them lack of sales funeral experience. B2B marketing and inbound marketing must be recorded into a CRM. Customer satisfaction as well as case studies should be recorded properly.

Marketing automation platform combines the tools of email marketing automation, lead nurturing and sales pipelines, analytics and reporting, and digital advertising. 

Automation marketing and important tools

The range of tools that a marketing automation software can possess is vast and varies. Yet, some basic features are common and needed in order to develop a successful marketing platform. These features represent multiple channels to reach your prospects.

three crumpled yellow papers on green surface surrounded by yellow lined papers

Email marketing automation

One of the tools used by the sales team to contact prospects and develop leads is cold emails. Emails represent a marketing strategy that sees sales send personalized and timed emails on the prospects’ mailing addresses. These emails are then automatically recorded and a workflow is followed. For example, if the email does not receive any answer, a follow-up email is sent X days after the first one and so forth.

Email marketing automation is important as it automates the process of sending emails, following up, and marketing. Indeed, the sales team might need to send emails on the launch of a new product, for review on existing products, for surveys, and for many other reasons. Creating email campaigns remove the hassle of writing, copying, pasting, and sending hundreds/thousands of emails. Email automation is therefore a key marketing automation tool.

Need any more reasons to implement basic email marketing?

  • Target niche market segments
  • Convert more leads
  • Engage customers and prospects
  • Increase efficiency

These are small but key advantages of email campaigns.

Once you start mass mailing for sales reasons or to contact clients, you may need to use a scheduler. Although still rare, schedulers are useful to decide to time of the day and days on which you want your email campaign to be active and contact leads.

How do email marketing automation works?

The best email marketing automation includes custom variables, icebreakers, and the possibility to include specific graphs or pictures to resemble a “real” email. An email will be sent once the desired behavior is met by the prospect. Within the email, besides custom variables, you can attach forms or files which the receiver can fill. Finally, the most efficient email marketing automation software, such as LemList, possesses mobile optimization and A/B testing.

person holding lens

Lead nurturing

From lead to client, the management of the customer journey is a vital focus of marketing software. Therefore, a core focal point of marketing automation is lead generation and management. Lead capture can be done via email, website forms, or even lead generation software. Once a lead is captured, it enters your sale pipeline until recognized as not interested or as a client.

Nurturing leads – as well as clients – is important as it provides a view of your product and service to the prospect. In order to efficiently nurture leads, sales teams need to gather a lot of customer data. In order to set up a campaign, you need to decide upon:

  • The campaign type. You may want to generate and contact leads, reconnect with past leads, inform clients upon new products, etc. An example of a campaign may be drip campaigns which aim at informing your prospect about your company and brand through series of triggers and actions.
  • The campaign content. Your content will depend on the campaign you are choosing as you will want to target your audience precisely with their interests and needs.
  • The campaign complexity. From basic to complex, the workflow and logic behind your campaign must be clear from the start.
  • The campaign audience. Segment efficiently your target audience and nurture all segments with tailored campaigns.

Finally, you can automate repetitive tasks and lead management via the utilization of pipelines or sales cycles. This feature will enable, usually, the drag and drop option which allows a clear and simple recording of leads in their correct sales cycle stage. Lead scoring is used to calculate the value and probability of lead generation revenue.

Analytics and reporting

Once you launch your marketing automation, one prerequisite is to be able to analyze your campaigns via straightforward reports and intuitive graphics. This view resonates with one of the 2021 wealth management trends: gamification of reports. These analytics and reports must include an analysis of response rate and conversion rate. For example, for an email campaign, the number of sent, opened, and answered are a must-have for any marketing automation software.

Reporting enables the possibility of generating reports and in-depth analysis of where your campaign is performing and where it is lacking personalization. These metrics are key to developing your campaign, improving, and engaging customers. Our tools have been developed to facilitate banks and financial institutions to engage with people are targeted offerings.

Our solution will measure marketing ROI, lifetime value, new customers’ cost of acquisition. The objective is clear, workflow automation should improve your team process. That solution should help you to grow your business and not hire more people! Reporting will present in Bonn marketing automation effectiveness and encourage marketing teams to be more creative.

Digital advertising

Digital advertising represents the ability to deliver advertising content to prospects and clients via multi-channel communication, including social media, text messages, emails, client portals, or even phone calls. Therefore, as with most marketing automation tools, digital advertising thrives on data. Digital advertising regroups:

  • Search engine marketing. Most popular search engines regroup Google or Bing. These companies thrive on paid ads. Companies, in order to be showcased first when a certain keyword is typed, are ready to compete for their ads place. Obviously, the price depends on the keyword and the attractiveness of it.
  • Display marketing. This type of marketing is inherent to almost any company, ranging from Youtube to Sports events. 
  • Social Media Ads. This type of marketing is appreciated by marketers. Social media marketing includes LinkedIn, YouTube, Facebook, Instagram, and so forth.

InvestGlass as a marketing automation tool

InvestGlass is a Swiss CRM based in Geneva which newly developed marketing automation solutions. This development was needed to tend towards an inclusive CRM and Marketing automation software. The combination of both focuses may well be a market changer.

Customize your marketing and sales management with a CRM that combines an all-in-one client management software with lead tracking and marketing automation solutions. Although the platform includes an email marketing campaign planner and other marketing and sales management automation tools, some development is still waiting on the digital advertising focus; yet, this is clearly on the road map.

Start your free trial today! Go and get them all!

automation, CRM, email marketing, marketing automation

person clicking Apple Watch smartwatch

Automated scheduling software is a must-have

Automated scheduling software is a must-have

If you’re a business owner, the phrase “time is money” couldn’t be more true. With that being said, it’s important to save time whenever possible and avoid scheduling conflicts. Calendly is an easy-to-use online tool that lets you schedule meetings with clients and potential customers without the back and forth of email or phone tag. It has two key features:

1) Calendly syncs your calendar so there are no double bookings

2) You can create custom meeting times for any day of the week

Set a meeting with calendly

Calendly event is a customizable scheduling solution that allows you to accept or decline meeting requests from your calendar. You can also create custom availability options for a certain day, time, and date on any given week.

Calendly syncs with your InvestGlass Calendar so there is no double booking of appointments in the future! You can also connect Calendly event scheduling links to google calendar.

The software automatically synced with InvestGlass and creates custom availability options for a certain day, time, and date on any given week. The booking page is quite simple – white… and set event buffers between your events.

You can also create custom availability options for a certain day, time and date or even the entire month!

Create your meeting in seconds by inputting the desired number of participants. Once booked, the user will go a confirmation page.

Potential clients will receive reminders and link to the meeting which can be link to a room in Gotomeeting or Zoom.

Zoom is a great service for screen sharing and video conferencing. You can also set a custom welcome message to send users!

Schedule meetings is now easy

Each employee has his own agenda and it’s your prospect or client taht will create events. Basic account will have a watermark Calendly which you can remove when you subscribe to simple basic plan.

The contact has a dropdown menu where they can select the time slot in their own time zone. The app is fully compatible with mobile app.

You can host the calendar in a page or generate a scheduling link like this one.

This is an external site, so you might prefer to add an iframe into your website.

An iframe is a great option because you can keep your branding on the site and offer a unique experience to visitors. Inside InvestGlass client portal, you can also add the iframe with scheduling links added to your profile page. The calendly url can be your team url or your own. The pop up widget will help to set the meeting.

Is it difficult to setup your Calendly account?

Each team members account settings are centralized into a admin panel where you can setup event type fort your whole team. You will setup the Calendly url, and round robin.

Round robin is very useful when you have a team in different time zones. Round robin will check multiple calendars and facilitate one on one event on a particular calendar. Team events are now easy.

The event type can be invitee, organizer or both. Each event type should have a comprehensive description. The setup can be sometimes trick to automatically create the right meeting room. You can create unlimited event types.

Invitees will see the event when they receive an invitation and click on it to accept their spot. The employee is still able to edit the other events if needed.

Calendly page will also include a picture of your staff. Everything can be setup inside Calendly dashboard.

  • TimeTap.
  • Setmore.
  • Doodle.
  • Acuity Scheduling.
  • 10to8.
  • Chili Piper.
  • TimeTrade.

Most apps offer free accounts so you can try them all but usually, the cool stuff is accessible with premium users’ subscriptions. In most of them, you can create unlimited events and accept payments.

Calendly offers perhaps the most complete control on recurring events, multiple dates, text reminders, invite schedules, simple centralized billing… and it’s simple to connect Calendly, create group events. This solution helps us for the past years to remove all back-and-forth email exchanges. The solution works too for last-minute scheduling although I suggest you set up a minimum scheduling notice!

Schedule meetings with InvestGlass and Calendly are easy. Automated scheduling software will save you time and reduce the stress of back-and-forth emails.

Get started with your InvestGlass free trial.

automation, future automation

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