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Solutions

The dynamics of successful customer experiences are changing, with rising consumer expectations and greater competition for market share. The importance of having an enterprise-wide, adaptable and customizable solution to assist with your business processing is now greater than ever.

With AWD®, our intelligent business process (BPM) and case management solution, we can help you to rapidly build business-specific solutions to the challenges faced by your organization.



Putting you in control of your claims
Indemnity spend is the biggest expense insurers face. As competition, customer expectations and regulatory burdens squeeze margins, cutting claims leakage is vital. Insurers need systems that minimize costs while delivering a high-quality claims experience that safeguards customer loyalty. Instead, operational silos and incompatible, inadequate systems across different lines cause a range of problems:

  • Inefficient processes involving high levels of manual, paper-based work
  • Poor understanding of claims for different lines, with no visibility of aggregate claim levels across the business
  • An inability to identify and prioritize urgent tasks to meet service level agreements (SLAs)
  • Poor claims processing, impacting Net Promoter scores, customer satisfaction and retention
  • Inconsistent communication and duplication, resulting in wasted resources and internal confusion
  • Rigid processes that hamper product development and flexible claims processing
  • Inability to adapt quickly to regulation changes or market needs

Existing systems are often cumbersome and expensive to manage. Furthermore, the cost and disruption incurred from changing these complex systems can often be prohibitive.


What AWD brings to the table

From first notification of the loss, right through the claims process, AWD® automates, organizes, and escalates actions for timely, cost-effective settlements. Tasks, workflows, communications, and intelligence are harnessed to ensure claims are tightly controlled and handled according to internal and regulatory standards.

Adapting to your needs, AWD lets users quickly alter claim tolerances and treatment strategies to retain efficiency during busy periods; alter priorities to help meet new or changing SLAs and specify tailored handling strategies to ensure the best claims experience for high-value customers. Portals for third-party suppliers and collaborative working tools ensure every interaction is captured for a complete view of every claim, and by aggregating data from across different lines and businesses, AWD provides the visibility and tools to analyze and understand where claims leakage and costs occur.

Connecting with your existing systems, AWD avoids costly replacement of records and payment systems, and by bringing together all customer intelligence, contacts, content and policy details, our solution delivers a single view of the client and their claim. By seamlessly interfacing with internal and outside systems, AWD keeps the claim moving, automating tasks such as credit and fraud detection checks and driving the process forward.

  • Cut claims leakage: Better understanding and visibility of claims, individually and in aggregate, helps you identify the most urgent actions to reduce claim values and rates.
  • Increase efficiency: Optimize the process and automate the entire chain for simple claims, freeing staff to concentrate on more complex, collaborative cases.
  • Deliver excellent customer service: Deliver timely, fair and professional communications and settlements to promote retention. Specify different treatment strategies to protect your most valued customers.
  • Limit your liabilities: Automatically gather all relevant information to determine early on the probability of success in potential lawsuits.
  • Gain consistency and control: Enforce centralized policies across the organization and consistent claims processing across businesses and product lines.
  • Guarantee compliance: Capture every interaction and step for a fully documented history of each claim.


What are the real benefits to you?

AWD helps you do more, spend less and retain valued customers while reducing indemnity leakage to positively impact combined ratios and profits for a more successful operation.

Below are some of the typical minimum annual benefits that our solution can help deliver:

  • Up to 100% compliance with regulatory and internal standards and alignment with business objectives
  • 40-45% Increase in staff productivity
  • 30-40% Reduction in operational cost
  • 10-15% Reduction in claims leakage
  • 12-15% Loss adjustment expense reduction
  • 5-7% Increase in customer retention


A quick review
As competition, customer expectations and regulatory burdens squeeze margins, cutting claims leakage is vital. Insurers need systems that minimize costs while delivering a high-quality claims experience that safeguards customer loyalty. Instead, operational silos and incompatible, inadequate systems across different lines cause range of a number of challenges. DST's AWD Claims Processing solution provides a consistent, compliant experience that helps cut the cost of claims, improve operational efficiency and deliver a market-leading service. As a single platform with no additional modules, AWD helps provide a lower cost solution that’s efficient to set up, manage and maintain. We have more than four decades’ experience in claims management, with AWD used by nine of the top 10 life and pension insurance providers and five of the top 25 general insurers.



Downloads
AWD Claims Processing solution

AWD Claims Processing solution


Related Pages

Research - Consumers, Claims and Key Concerns
Claims Handling Checklist
Industry Solutions - Insurance
AWD - Business Process Management (BPM)


Contact Us

For more information, or to discuss any of our solution capabilities in your industry, please contact us.



Even greater expectations

First impressions count. Financial services groups want to give new customers their best: smooth, trouble-free on-boarding that sets the tone for a long-term relationship. To do so, they face significant challenges.

Requirements under Know Your Customer (KYC), anti-money laundering (AML), bribery and tax avoidance legislation are uncompromising, and constantly evolving. Regulations such as FATCA change annually. Without the proper processes, effective risk management and compliance can work against efficient on-boarding, leaving clients disappointed and organizations exposed. With business silos and manual processes, groups face a range of risks:

  • Fines from failures to comply, with increasing penalties and higher levels of enforcement activity on the part of regulators
  • Inefficient, slow and costly on-boarding, with high levels of applications suffering from dirty data and failures to meet business or regulatory requirements
  • Fragmented communications and repeated requests for information, damaging the client relationship
  • Difficulty adapting to changing regulatory requirements, stifling business growth
  • Poor insight into the on-boarding process, resulting in failures to address bottlenecks and spot opportunities


What AWD brings to the table

AWD® from DST provides an orchestrated, structured workflow that can be implemented across the business or the globe to capture the information needed for accurate, auditable client profiles. Leveraging information from across the business and from external systems, AWD drives a smoother on-boarding process.

AWD is designed to help you to:

  • Provide online application capabilities
  • Capture data from any communication channel
  • Determine priorities and distribute work to appropriate staff
  • Generate automatic correspondence without the need for manual data entry
  • Deliver seamless transmission to the back-office line of business systems
  • Guide users through a consistent, compliant processing path
  • Enable parallel processing of tasks to save time


What are the real benefits to you?
AWD helps meet the challenge of an ever-changing regulatory environment for a consistent approach that can stretch across the business. Leveraging what you know, and gathering what you do not, our AWD Client On-boarding solution gives unmatched insight and control for the best possible beginning for your client relationships.

  • Maintain compliance - consistently meet relevant requirements for information, verification and record-keeping across multiple jurisdictions, and respond quickly and seamlessly to regulatory changes with easy alterations to workflows and rules.
  • Cut costs - achieve a faster, simpler process that reduces manual work, automates data gathering and workflow creation, eliminates bad data and ensures every application is right first time.
  • Deliver excellent customer service - avoid repeated requests for information and deliver compliant, consistent communications that help build customer loyalty. Easily identify existing clients during on-boarding to leverage information held across business units and borders for a global on-boarding service solution.
  • Improve performance - track progress, KPIs and delivery against service level agreements; use root cause analysis to identify problems, find process improvements and view staff performance, and move your business from workflow management to workforce management.
  • Increase sales - faster on-boarding helps open cross-selling and up-selling opportunities sooner, and quickly spot new customer trends to identify growth areas.


A quick review

With the backdrop of ever-changing regulatory and compliance requirements, along with the pressure of maintaining profitability, today’s marketplace is more challenging than ever. DST’s AWD Client On-boarding solution is designed to help deliver a compliant, efficient on-boarding process that drives value across the business and helps provide the best possible beginning for your client relationships. AWD closes the gaps between offer, application and fulfillment, while eliminating manual administration and ensuring compliance, ultimately helping you to achieve complete control over service quality and an edge over your competition.

 

Downloads
AWD Client On-boarding solution

AWD Client On-boarding Solution


Related Pages


AWD Online Applications solution
AWD Know Your Customer (KYC) solution
AWD for Tax Compliance
Industry Solutions - Banking
Industry Solutions - Insurance
AWD - Business Process Management (BPM)


Contact Us

For more information, or to discuss any of our solution capabilities in your industry, please contact us.

 



A growing issue

Mis-selling scandals around PPI and interest rate swaps have put the spotlight on financial services’ complaints management. With studies showing more than a third of complaints to banks and insurance providers are poorly or inadequately investigated, regulators want disputes handled faster and more fairly. Furthermore, customer expectations are high, the number of communication channels is growing, and business lines are diversified and complex. Customer choice is at an all-time high, so when organizations get things wrong, it is important that they rectify the situation as swiftly and efficiently as possible.

The risks from poor complaints management are wide-ranging and include:

  • Fines, with firms forced to pay compensation for distress and inconvenience, as well as financial redress for errors
  • Inefficiency, as firms struggle to handle complaints effectively with paper-intensive, manual processes
  • Lost opportunities from rudimentary workflow-driven interactions that fail to engage and understand the nature of the customer’s complaint
  • Reputational damage from high volumes of complaints
  • Warning signs ignored that could prevent the next mis-selling scandal


What AWD brings to the table

AWD® combines powerful business process management (BPM) and case management for a compliant, efficient complaints process that aids in the delivery of excellent customer service.

Complaints can be effectively captured through any channel, enabling responses to be provided within regulatory time frames and cases automatically referred to the appropriate users for effective investigation. Analytical and reporting tools aid with root cause analysis and drive process improvements.

With a structured, standardized framework in place, firms can be confident in meeting regulatory requirements, while flexible case management improves insight and interactions for an improved customer experience and business performance. AWD’s capabilities work together for a better outcome:

  • Identify and acknowledge complaints quickly
  • Handle them compliantly
  • Deliver excellent customer service
  • Undertake root cause analysis
  • Spot trends early
  • Protect and enhance your brand


What are the real benefits to you?

AWD helps you maintain compliance and turn customers who complain back into advocates for your brand, for a better, stronger business:

  • Maintain compliance - consistently meet timelines and standards for managing and responding to complaints in line with best practice, standards and regulatory requirements.
  • Improve communications - automate communications to update customers on their case, improving service and cutting inbound calls and queries.
  • Cut costs - automate data gathering and task allocation to reduce man hours spent resolving complaints.
  • Increase customer loyalty - increase revenue and boost Net Promoter scores with efficient complaint management and appropriate communication for reduced chrun and improved customer satisfaction.
  • Gain consistency and control - ensure communications, remediation and goodwill gestures are in line with centralized policies across the organization and product lines.
  • Improve business performance - benefit from valuable insight into customer attitudes and trends to improve processes and products.
  • Identify issues sooner - find weaknesses and flashpoints to stop issues developing and to drive reduced complaints.


A quick review
AWD from DST lets your complaints management move beyond mere compliance. Powerful process tools drive responses, reporting and workflows to help ensure all regulatory timeframes and requirements are met, while flexible case management functions make the most of customer interactions to improve loyalty, resolve problems early and drive complaint levels down.

 

Downloads
AWD Complaints Management solution

AWD for Complaints Management solution

Related Pages
Industry Solutions - Banking
Industry Solutions - Insurance
AWD - Business Process Management (BPM)

Contact Us

For more information, or to discuss any of our solution capabilities in your industry, please contact us.



A challenging, ever-changing landscape
Fierce competition, high expectations and stringent regulation make customer centricity vital, but achieving a consistent, compliant and optimal customer experience across the organization is complicated by the range of sales channels, diverse, complex products, and disparate systems for different lines and businesses. Operational silos and a lack of coordination cause a range of problems:

  • Poor customer insight, with no single view of the customer, limiting service levels and opportunities for cross-selling and upselling to high value customers
  • Inefficient marketing spending that fails to link outbound and inbound communications and alienates customers with irrelevant offers
  • Inconsistent branding as companies struggle to provide a consistent experience across product types
  • Poor quality innovation, as product development fails to respond to changing customer demands


What AWD brings to the table
AWD® from DST allows you to capture information and enforce your pre-determined customer service strategies across all channels and product lines at the point of interaction. A series of next best actions delivers more relevant and profitable customer interactions. Analysing all of the operational intelligence you hold on the customer, AWD predicts the most suitable actions and offerings for the customer, and most profitable for the business.

  • Increase sales - more appropriate offerings mean better conversion rates, and increased understanding of high value customers maximizes cross-selling and up-selling opportunities.
  • Increase retention - targeted communication results in more customers with multiple products and services, an increasing wallet share and customer loyalty.
  • Deliver excellent customer service - ensure improved, more relevant communications and offers using the right channels. AWD frees agents and call centre operators to concentrate on delivering excellent interactions backed by relevant information, building loyalty with every contact.
  • Reduce costs - track marketing effectiveness for maximum return on investment, eliminate needless discounts and offers, and reduce quote-to-issue cycle times.
  • Gain consistency and control - enforce centralized decisions across the organization and consistent offerings and interactions across channels and product lines.
  • Improve innovation - gain a clear view of customer demands and preferences to develop products that sell.


What are the real benefits to you?
Below are some of the typical minimum annual benefits that our solution can help deliver:

  • Up to 100% Compliance with regulatory and internal standards, and alignment with stated business objectives
  • 70% Increase in conversion rates
  • 55% Boost to staff productivity
  • 45% Lower operational costs
  • 37% Reduction in fraud
  • 27% Better customer retention
  • 25% Higher net promoter scores


A quick review
DST’s AWD Customer Centricity solution allows you to leverage big data and helps effectively capture and operationalize customer intelligence. By improving everyday interactions with customers across all service channels, it helps you to deliver a better service, reduce costs and generate more sales - maximizing all business outcomes.

 

Downloads
AWD Customer Centricity solution

AWD Customer Centricity solution


Related Pages

Industry Solutions - Banking
Industry Solutions - Insurance
AWD - Business Process Management (BPM)


Contact Us

For more information, or to discuss any of our solution capabilities in your industry, please contact us.

 



Don’t let process exceptions catch you off-guard

All manual and automated processes produce exceptions. Regardless of the underlying cause, exception cases will inevitably cost you time, resources and money to resolve, making it critical for you to have a mechanism in place to manage those scenarios as they arise.


Today, exception management is more important than ever

In addition to managing day-to-day process exceptions, financial services organizations are under ever-increasing regulatory scrutiny to provide full transparency across all areas of their business. Regulations include:

  • Sarbanes-Oxley reporting
  • Dodd-Frank reporting
  • Regulation breach scenarios and mitigations
  • Outstanding confirmation profiles
  • Non-settlement events
  • Enterprise reconciliation management
  • Data process exceptions
  • Manual process status and workflow assignment
  • Trade lifecycle status and resolution


What AWD brings to the table

AWD10, the business process management (BPM) solution from DST, is designed to provide a flexible, robust and scalable solution for enterprise exception management. Through the use of rules, parameters and decision trees, users have the ability to define infinite process outcomes and route exception scenarios to the right team at the right time. AWD10 has the capability to standardize global processes onto a single platform, tightly integrated with industry core products and best practices.


AWD is designed to help you to:

  • Integrate and aggregate complex reconciliations across large, multi-discipline, multi-national firms
  • Reduce exception resolution times with a single, business-wide, integrated framework
  • Maintain and prove compliance through real-time exception and status reporting
  • Reduce risk profiles due to fewer exceptions and shorter resolution times
  • Reduce deployment times for new functionality through the graphical user interface


What are the real benefits to you?

Our BPM solution has been deployed successfully across many global businesses. Some of our clients have found the following benefits:

  • Reduction in errors that can occur with manual exception processes
  • Audit of all exception lifecycles
  • Expedited exception escalation
  • Increased consistency of resolution
  • Faster turnaround of exception items
  • Improved ROI
  • Automatic generation of lifecycle events, alerts, emails and web services
  • Standardization of exception management processes and reporting

Ultimately, AWD10 helps allow you to trend your exception profiles and target areas of inefficiency or concern. This offers you clear direction for analyzing the cause of exceptions and resolving the process breakdowns.


A quick review
The continuing evolution of markets has resulted in greater process complexity, in turn creating more pressure on timely resolution of exceptions. No solution can provide a resolution for all exception scenarios. However, it is possible to create a robust and flexible control framework to manage, act upon and report exceptions as they arise, across multiple markets and locations. AWD10 has the ability to integrate native capability with internal and external systems, making real-time exception reporting and resolution a reality.

 

Related Pages
Industry Solutions
AWD - Business Process Management (BPM)


Contact Us

For more information, or to discuss any of our solution capabilities in your industry, please contact us.

 



It pays to know your customer

All types of financial services companies, from Global Investment Banks, Insurance Providers and Accountants to Casinos, Estate Agents and Tax Advisors, are required by legislation to have a robust and auditable Know Your Customer (KYC) process in place. KYC rules are based on three main activities: identification, verification and recordkeeping. Together, these activities help determine the exact nature of a client’s business and ensure that none of its funds have been part of any criminal activity. This is especially important with new clients. The right KYC process will maintain absolute integrity while allowing scalability and ease of use.

Procedures and processes for managing client due diligence include:

  • Legal Entity Identification (LEI)
  • Foreign Account Tax Compliance Act (FATCA)
  • Dodd Frank Wall Street Reform Act
  • FINRA Rule 2111

Obstacles to managing due diligence
Below are some of the challenges faced by companies striving to manage client due diligence in the 21st century:

  • Complex KYC requirements that call for constant updating and maintenance of dynamic data sets
  • Extended client on-boarding timelines due to fragmented work-intensive KYC processes
  • Non-compliance of anti-money-laundering procedures due to inaccurate or late input
  • Difficulty in providing proof of compliance across products, geography and client demographics
  • Vendor solutions that have long and costly configurations or lack the ability to dynamically define process in a real-time environment.


What DST brings to the table

AWD® from DST provides a flexible, scalable solution for KYC compliance. Its intelligent rules capability provides the ability to manage client classification and identify regulatory requirements across global jurisdictions.

In addition, AWD can help you to standardize global processes onto a single process platform, tightly integrated with industry core products and best practices. AWD has been deployed across many global businesses and is designed to deliver an in-depth solution capability. It can help you achieve faster time to business, lower cost of delivery, and the ability to customize to specific client requirements.

The following are the business process capabilities supported by AWD:

Identification
Easily configured and customizable workflow for performing and tracking KYC activities.

Verification
Workflow focused on determining the validity of client information.

Recordkeeping
Managing and securing all information related to financial activity and client accounts, including:

  • Customer profiles and personal information
  • Records of all client transactions
  • Reports to government authorities concerning suspicious customer activities
  • Records of all formal anti-money-laundering training
  • Any other documentation required to be retained under applicable regulations


What are the real benefits to you?

With AWD, you’ll be able to track and update progress in real time, while easily and securely uploading client information. This leads to shorter on-boarding
timelines and auditable KYC evidence. Our flexible web portal user interface provides streamlined reporting and status tracking. In addition, our status dashboard can be configured to fit your specific needs. AWD can help you to quickly adapt, copy and modify flows and customize solutions to meet changing requirements and procedures.

A quick review
KYC legislation is certain to become more complex as client structures develop across locations and markets. The evolving regulatory landscape will in turn become more stringent and require tighter deadlines. Bringing all KYC activities together under a common framework within a scalable platform is critical to maintaining control of the end-to-end process. Furthermore, rules-based workflow ensures future compliance and adaptation. AWD is a perfectly placed solution with flexible, robust business process capabilities that can help add value and help you succeed in an ever-changing KYC environment.

 

Related Pages
AWD for Tax Compliance
Industry Solutions - Banking
AWD - Business Process Management (BPM)

Contact Us
For more information, or to discuss any of our solution capabilities in your industry, please contact us.

 



A complex and costly challenge
The complex systems used by financial services companies reflect the challenging, changing and competitive market in which they operate, with rarely a single, coherent back office solution that meets all of a company’s operational needs. Instead, multiple poorly integrated systems serve different lines and businesses. Clients, however, expect high quality, customer-centric service across numerous products and communication channels. As a result, organizations are forced to rely on their staff’s expertise across a range of different systems to compensate, while operational siloes and data dispersed throughout the business undermine service levels and productivity:

  • Interactions fail to meet customer expectations, with repeated requests for the same information and multiple contacts required for even simple queries
  • Staff waste time rekeying data to interrogate and update different systems
  • Poor insight, with no single view of the customer, results in inadequate service and missed opportunities with high-value clients
  • Branding suffers as customers’ experience varies depending on the product line
  • Specialist knowledge required for legacy systems adds to training costs and prevents flexible allocation of workers, with staff tied to particular systems

The result is inefficiency and waste. However, replacing these legacy systems is not the answer. Not only is this approach costly and disruptive, but it also fails to leverage the existing solutions that companies already have in place.


What AWD brings to the table

AWD® is DST’s business process management and case management solution for a coordinated back office that builds on your existing systems. Rather than ripping and replacing existing business systems, AWD integrates with them. Capturing and coordinating data from across the business, it presents users with a simple, consistent interface and holistic view of the customer. All customer intelligence, contacts, content and product details are immediately available, and any changes to this data will automatically be updated in all underlying systems as well.

  • Integrate: Capture, coordinate and consolidate information from multiple internal systems, which remain in place
  • Simplify: Present a single interface and single view for users incorporating all relevant information
  • Automate: Automatic workflows for simple tasks and communications leave staff free to concentrate on more difficult cases
  • Illuminate: Turn data into knowledge with a comprehensive overview of the organization and workforce.


What are the real benefits to you?

AWD helps release organizations from the restrictions of antiquated systems, letting them tailor their processes to their specific business requirements and users’ expectations:

  • Deliver excellent customer service: A single view of the customer, including all product holdings, ensures more tailored, relevant information and better interactions. Treatment strategies can be tailored to ensure retention of high-value customers.
  • Reduce manual work: Automate workflows and eradicate the need to re-enter data and update multiple systems for a more efficient process with less scope for errors.
  • Improve workforce flexibility: Free staff to work across business lines and functions, while radically reducing training requirements with a single, intuitive system for all product lines.
  • Gain consistency and control: Enforce centralized standards throughout the organization to enhance communications and strengthen the company’s brand.
  • Keep compliant: Capture every interaction with the customer for a fully documented history and audit trail.
  • Improve performance: Track progress and KPIs and use root cause analysis to identify problems and process improvements.


Below are some of the typical minimum annual benefits that our solution can help deliver:

  • Up to 100% compliance with regulatory and internal standards
  • 48% increase in staff productivity
  • 38% reduction in operational cost
  • 30% efficiency gains
  • 15% improvement in customer retention


A quick review
DST’s AWD Legacy Modernization solution is designed to offer a more cost-effective, less disruptive answer to help financial services organizations held back by ageing back office systems. Building on what works, addressing what does not, and filling the gaps in between, it provides a more viable solution that helps reduce the burden on staff and enable them to deliver excellent customer service..



Downloads
AWD Legacy Modernization solution

AWD Legacy Modernization solution


Related Pages

AWD - Business Process Management (BPM)
Industry Solutions - Banking

Industry Solutions - Insurance
Services


Contact Us

For more information, or to discuss any of our solution capabilities in your industry, please contact us.



Streamlining the loans process

Today’s lenders need to be fast and informed to contend with the cost of capital, cut-throat competition and stringent regulatory regimes. Customers want lower prices, simpler applications, quicker decisions and excellent service, while lenders need profitable rates and sensible decisions. Many existing systems and practices work against these outcomes with both paper-based processes and poor integration between online and back office solutions leading to a range of problems:

  • Mistakes and omissions in up to 90% of applications, increasing processing times and undermining customer satisfaction
  • Delays from supporting paperwork that is lost or late
  • Inefficiencies and errors introduced by rekeying data from paper applications into back office systems
  • Difficulties handling multichannel communications, with a disjointed process and poor customer experience
  • Poor coordination between branches and departments, limiting productivity
  • Breakdown in communication between lenders and borrowers due to limited visability of all loan processing activities
  • Uncertain process controls, making it difficult to enforce credit tolerances and ensure regulatory compliance

The result is higher costs, inadequate risk control and a slow, unsatisfying experience for customers.


What AWD brings to the table

AWD® from DST offers a consistent, coherent and scalable solution for high quality loans processing, delivering a range of benefits to the business and a fast return on investment. AWD integrates and leverages existing systems and transforms them into a single, modern and easy-to-use process platform, without the cost and disruption of replacing legacy systems. By aggregating data across legacy line-of-business systems, AWD provides further support for default management processes, integration with 3rd party analytics for default forecasting, and loss mitigation. With almost unlimited scalability, AWD is flexible enough to adapt to changing regulatory, lending or product requirements. Business users can quickly build new processes and rules using an intuitive interface, without any support from IT departments.


What are the real benefits to you?

Online and offline, AWD supports a loans process that’s quick, efficient and compliant. By capturing key information, automating responses, coordinating teams and enforcing controls, it promotes increased customer satisfaction and consistent, quality lending decisions.

  • Fewer errors: AWD replaces data entry with straight through processing that automatically integrates existing data
  • Efficient data capture: Leverage online applications to collect customer details and automatically interface with credit agencies and other external systems to drive the process
  • Compliance and control: Lending criteria and regulatory requirements are strictly enforced, with a full audit trail and management of supporting documentation
  • Consistent user experiences: A single solution means smoother cross-channel communications and customer interactions
  • Increased productivity: Automatically allocate tasks to appropriately skilled staff and automate customer communications and updates to reduce inbound enquiries
  • Lower IT and training: Benefit from a unified solution for online applications and business process management
  • Continual improvement: Full visibility of the process, and tools for in-depth analysis and reports help you achieve your business goals.


A quick review

AWD offers a single solution for every channel and any loan – online, offline, low value or high value. With AWD, processing loans becomes easier and can help create a more positive experience for your customers and deliver robust business process capabilities that will help add value, give you a competitive edge, and help you grow your business.

 

 

Downloads
AWD Loans Processing solution

AWD Loans Processing solution

 

Related Pages
AWD Mortgage Processing solution
AWD Online Applications solution
AWD Client On-boarding solution
Industry Solutions - Banking
AWD - Business Process Management (BPM)


Contact Us

For more information, or to discuss any of our solution capabilities in your industry, please contact us.

 



Mortgage processing is more complex than ever

The wide spectrum of client profiles within the mortgage industry gives rise to complex issues when managing operational processes associated with mortgage lifecycles. The lack of an end-to-end solution covering mortgage processing activities can result in a breakdown in communication between you and your borrowers. Not only can this create a negative customer experience which in turn can damage your brand reputation as a lender, it can increase your risk of failing to meet audit and regulatory requirements. In response to the ever changing regulatory requirements, firms have adopted extremely conservative lending criteria in a time of historically low interest rates. New entrants and established players are fighting for market share with the ultimate goal of delivering profitability, making the mortgage origination process an area of the business that firms cannot afford to get wrong.

The speed versus risk challenge
With the many constraints and changing regulations, lenders are challenged to reduce time to offer whilst maintaining an appropriate level of risk and control. There is a direct correlation between the speed at which mortgage offers are made and the likelihood of the offer being accepted. However, compromising risk at the expense of speed is not acceptable so it is vital to have a process that is efficient with bottlenecks yet comprehensive enough to help eliminate risk.

Common areas of inefficiency include:

  • Delays in getting applications ready for assessment. This can occur due to physical collation and distribution of the documents
  • Missing information. Typically anywhere between 70% and 90% of mortgage applications will be incomplete, increasing the administrative overhead as additional information is sought and delaying the overall application process.
  • Multiple data entry. Manual entry and re-keying of data leads to errors and further delays in the process
  • Inefficient work allocation. The lack of ability to prioritize a case for any number of reasons can seriously impact the value derived from it and create a negative customer service experience.
  • Wasted time dealing with ad hoc broker requests. Brokers often seek regular information updates, which can be a time consuming process.
  • Inefficient use of resources. It can take anywhere from 6 to 9 months to fully train an underwriter. Without the ability to segment processes into discrete tasks, skilled workers may be assigned un-skilled tasks, lowering overall workforce efficiency
  • Lack of process control. It’s easy for assessors to miss stages in the process due to the lack of an enforceable structure that ensures they complete all the necessary tasks, which presents a monetary and/or compliance risk


What AWD brings to the table

AWD® from DST is designed to help you quickly deliver end-to-end process automation for mortgage processing while facilitating effective work allocation, providing functionality including:

  • Online application capability and case tracking
  • Seamless transmission to back-office processing environment
  • Process orchestration and task management, guiding users through a consistent, compliant and optimal processing path
  • Smart task management for allocation of work across teams and roles, driven by skill set, demand or experience
  • Automatic document generation, without the need for manual data entry
  • Rich performance MI and full audit trail and reporting for compliance functions
  • Automated notification updates to customers


What are the real benefits to you?

AWD has been deployed successfully across many global businesses and delivers an in-depth solution capability. Some of our clients have found the following benefits:

  • Reduced cost of processing, increased capacity, and reduction in errors
  • More cost-effective allocation and completion of tasks
  • Faster processing of applications
  • More consistent, higher levels of customer service
  • Consistent adherence to best practices
  • Assurance of compliance with a full audit trail
  • Reduced overhead for training
  • A fully scalable solution for virtually unlimited numbers of users and clients


A quick review

In today’s increasingly competitive and regulated marketplace, the mortgage origination process is fraught with complexities. Yet underlying mortgage sourcing platforms are often inflexible, with only rudimentary workflow capabilities. AWD is focused on helping provide best-practice processing across full product lifecycles. Its flexible rules framework and robust architecture make it ideal for pulling together disparate processes and automating operations. AWD is a perfectly placed solution that gives you complete control over service quality and helps give you an edge over your competition.

 

 

Downloads
AWD Mortgage Processing solution

AWD Mortgage Processing solution

 

Related Pages
White Paper - Beyond the Mortgage Market Review
White Paper - Mortgage Market Review: Are you ready for it?
Video - Mortgage Market Review: Are you ready for it?
AWD Loans Processing solution
AWD Client On-boarding solution
AWD - Business Process Management (BPM)
Industry Solutions - Banking


Contact Us
For more information, or to discuss any of our solution capabilities in your industry, please contact us.

 



Getting off to a good start
Financial services customers want products to be cheaper and faster; regulators demand consistent compliance; and providers want market share. The pressure to cut processing costs and deliver an excellent application experience has never been greater. However, too often paper-based systems or failures to integrate standalone online application systems with back office data undermine both the customer experience and operational efficiency:

  • Confusing application forms lead to high numbers of mistakes and incomplete applications.
  • Supporting paperwork is delayed or lost.
  • Out of date forms risk failures in regulatory compliance or wasted visits for intermediaries and sales staff.
  • Time-consuming and expensive processes delay transmission of information to the head office and require information to be re-keyed into back office systems, increasing room for errors.

Ultimately, the result is an application process that is slow and inefficient, undermining the customer experience, adding to costs, and risking sales.


What AWD brings to the table

AWD® is a flexible, scalable business process management solution. It captures and seamlessly integrates data entered by customers or intermediaries for applications into back office systems. For mortgages, loans, credit cards, insurance, investments or current accounts it delivers a smoother, more efficient application process and significant improvements in customer satisfaction levels.

  • Intuitive, attractive applications for customers or intermediaries with intelligent functionality such as document capture using tablets’ integrated cameras for right first time applications.
  • Offline or online, all the right information is captured for consistent, compliant applications whether in the intermediaries office or remotely.
  • Seamless integration allows application information to automatically populate back office systems when the application is submitted, or when intermediaries or sales staff synchronize their tablet or PC.
  • Dynamic forms ensure customers, sales staff or intermediaries are only asked to enter information in the sections relevant to them, eliminating confusion and driving a faster application process.
  • Change applications quickly and efficiently without the support of the IT department to adapt to regulatory requirements or develop new forms with intuitive drag and drop tools.
  • Automatically update websites, and intermediaries’ tablets and computers with the correct forms to ensure you get the information required for your systems and maintain regulatory compliance.


What are the real benefits to you?

AWD brings the front office and back office together for a more efficient, effective application process for your customers and your business by helping you:

  • Cut costs: Eliminate data entry requirements by enabling straight-through processing.
  • Increase sales: Protect sales by avoiding delays in processing applications and open up cross-selling and up-selling opportunities quicker through faster on-boarding.
  • Keep compliant: Ensure the right forms are used, the right questions answered and the right documents captured.
  • Deliver excellent customer service: Avoid mistakes, delays and misplaced documents, and deliver a smooth, satisfying application experience. With offline functionality, AWD lets users fill in applications in the comfort of the customer’s own home or where no trusted internet connection is available.
  • Keep flexible: Make changes to the application process quickly and easily to accommodate new regulations, business requirements or products.
  • Gain consistency and control: Enforce consistent control and branding of applications across the organization, sales force and intermediaries.
  • Track trends: View and analyse application numbers and status in real-time to understand the products driving your business.
  • Improve the process: Quickly identify stumbling blocks and weaknesses in application forms that are resulting in errors.


Below are some of the typical minimum annual benefits that our solution can help deliver:

  • Up to 100% compliance with regulatory and internal standards and alignment with stated business objectives
  • 50-75% faster on-boarding
  • 20-40% efficiency gains


A quick review
DST’s AWD delivers online applications for banking, insurance and investment products that drive an end-to-end process to help eliminate inefficiencies, inconsistencies and missing information. Bridging the gap between the back office and front office, it helps cut costs and delivers a seamless experience for clients and intermediaries alike.



Downloads
AWD Online Applications solution

AWD Online Applications solution


Related Pages

AWD Client On-boarding solution
AWD Loans Processing solution
Industry Solutions - Banking
Industry Solutions - Insurance
AWD - Business Process Management (BPM)


Contact Us

For more information, or to discuss any of our solution capabilities in your industry, please contact us.



A fragmented, inefficient process
Successful structured finance deals require close cooperation and coordination between a number of different, and often geographically dispersed, departments. However progress is often hampered by information trapped in siloes, and paper-driven, manual processes. For lenders there are several consequences:

  • A major governance gap, with little oversight or visibility of decisions. The relationship manager alone sees the whole process
  • Bottlenecks and delays in linear workflows force departments to wait for meetings, decisions and responses from across the organization
  • Inconsistent terms, made without reference to historical lending records, which are often difficult or impossible to access
  • A failure to understand the true costs of lending often leads to poor pricing and an inefficient use of capital


What AWD brings to the table

AWD® is DST’s case management and business process management solution for a more controlled approach to structured finance. It creates a secure, online community, giving all stakeholders visibility of the information they need and the actions they are required to undertake.

  • Key background information, including financial histories, KYC documents, assets, existing exposures, risk scorings, credit risk policies and all other relevant information is immediately available and visible to all parties.
  • Tight integration between different lines of business, legacy and CRM systems as well as one-click links to external records gives users a complete understanding of the deal, the customer and the client history.
  • A powerful portal for better case management lets participants see every detail of the deal and facilitates the flow of information.
  • Automatic credit checks, historical information and details of portfolio exposure populate case files as they are created.
  • Automated monitoring of covenants and asset valuations provide efficiency over the lifetime of the loan.


What are the real benefits to you?

AWD provides a more transparent, efficient and informed structured finance approach for more profitable results:

  • Get to decisions faster: Halve the time to structure and prepare a deal for credit teams.
  • Full internal and regulatory compliance: Help meet relevant requirements for information, verification and record-keeping across multiple jurisdictions, as well as adherence to credit policies.
  • Improved risk management: Identify customer and portfolio concentrations at a glance without accessing multiple systems.
  • Automate the audit trail: Track and store all decisions, actions and conversations automatically.
  • Improve pricing and cross sales: Gain a better understanding of client and their previous business with the bank.
  • Better client servicing: Automate valuations and covenant monitoring to ensure adherence over the lifecycle of the loan.
  • Drive productivity improvements: Use management information on loans processed, outstanding values, risk by country and asset type to improve efficiency.
  • Open additional revenue streams: A faster, more cost-effective lending decision cycle lets you consider smaller-value applications.


A quick review
By streamlining your entire structured debt operation, DST’s AWD Structured Debt solution will help accelerate and improve the vital decisions that are needed to boost your business. Sophisticated, tailored and intuitive case management tools connect teams across the bank or across the world, keeping information on hand and driving the process forward. From origination to execution, it delivers visible, auditable and informed decisions for a more profitable, consistent operation.



Downloads
AWD Structured Debt solution

AWD Structured Debt solution


Related Pages

AWD Client On-boarding solution
Industry Solutions - Banking
AWD - Business Process Management (BPM)


Contact Us

For more information, or to discuss any of our solution capabilities in your industry, please contact us.




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