The Expansion from Customer Service Into Financial Crime Prevention
Company Size
1,000+
Region
- Europe
Country
- United Kingdom
Product
- Aptean Respond
Tech Stack
- Not mentioned
Implementation Scale
- Enterprise-wide Deployment
Impact Metrics
- Customer Satisfaction
- Productivity Improvements
Technology Category
- Functional Applications - Enterprise Resource Planning Systems (ERP)
Applicable Industries
- Finance & Insurance
Applicable Functions
- Business Operation
Use Cases
- Fraud Detection
- Regulatory Compliance Monitoring
Services
- System Integration
- Training
About The Customer
St. James’s Place is a wealth management company established in 1991. It provides advice on building capital, managing money and businesses, and protecting against financial risk. The company is a FTSE 100 company which provides wealth management and financial planning solutions to individuals, trustees and organisations. St James’s Place Wealth Management’s Financial Crime Prevention Team manage the corporate responsibilities for all aspects of financial crime prevention. Part of this involves the logging and maintenance of an effective record keeping system to help meet this requirement.
The Challenge
St. James’s Place Wealth Management, a FTSE 100 company, was struggling with managing their financial crime prevention cases. They were using a combination of Excel spreadsheets and email to manage their case workload. The case data was spread across multiple spreadsheets, making it difficult to find critical information. The manual process of logging and tracking cases was inefficient and prone to errors. The team had limited ability to control access to sensitive information, which was not ideal for storing the sensitive information found in financial crime cases. The team needed to pull Management Information (MI) and reports based on the data in their spreadsheets, which was time-consuming, subject to human error, and resulted in inconsistencies.
The Solution
St. James’s Place decided to implement Aptean Respond, a case and feedback management solution, to manage their case workload. The system went live just three months after the requirements gathering was finalised. The transition to Respond was smooth, with St. James’s Place working alongside their Aptean Account Manager to ensure a smooth installation. The team received training sessions from Aptean’s Customer Solutions team so they were well placed to immediately start logging and investigating cases in the system. Respond allows the team to set up tasks for them to review in an allotted timeframe, such as in 6 months, ultimately helping St James’s Place to meet their regulatory requirements. Reports can be set up in Respond to export only the data necessary, and so with a click of a button St James’s Place can have a full report ready for disclosure to the authorities.
Operational Impact
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