Two heavy-hitters in the financial industry data and onboarding spaces have formed a strategic partnership.

Refinitiv, the financial market data and infrastructure firm, has joined forces with Switzerland-based onboarding firm Appway, showing that the need to manage how clients are taken on board remains a major preoccupation for the wealth industry.

The strategic partnership will allow Appway to integrate its capabilities on the Refinitiv BETA Platform. The platform is used by many US wealth managers and brokerages.
Both firms operate in a variety of regions.

“Our orchestration and collaboration capabilities paired with Refinitiv’s BETA Platform will dramatically transform their client onboarding processes and lead to enhanced experiences for all stakeholders,” Andrew Besheer, director for financial services solutions at Appway, said.

Digital onboarding capabilities are now a must-have for the sector, according to Will Trout, global head of wealth management research at consultancy Celent.

“As technology evolves so do client expectations - making next-generation digital onboarding solutions the new industry standard for inspiring confidence and winning over new clients. Effective digital client onboarding solutions can help financial service institutions improve customer experience, reduce costs, increase revenue, enhance process efficiency, while managing compliance across operating jurisdictions” he said.

Appway continues to set the pace in the onboarding field, winning awards in European and Swiss programmes, as run by this news service.