Appway Unveils Canada-Focused Onboarding Solution

Editorial Staff

23 September 2021

Appway, the Switzerland-based firm that focuses on onboarding solutions for financial services, has pushed into the Canadian wealth management arena.

The organization has announced the “general availability” of its Client Onboarding for Wealth solution, a new offering delivered via the Cloud aimed at Canadian wealth management firms.

The service slots in with legacy systems and the broad ecosystem of third-party service providers so that it can be adapted rapidly when local rules and business requirements change.

The offering aims to meet three main outcomes: Streamlining investor experience by removing paper-based processes and physical signatures; improving the ability of advisors to handle more work by saving time; and making it easier for firms to bring services to market in shorter periods of time.

“Appway is excited to leverage our many years of experience in the Canadian market to create this packaged Client Onboarding for Wealth solution which has been purpose-built for the Canadian Market,” Harold Reimer, sales director for Appway Canada, said.

The firm claims that its offerings cut onboarding times – often a major headache in the world’s wealth sector – by as much as 90 per cent, and boosts the return on investment by 225 per cent. As anti-money laundering and KYC requirements have risen, firms have had to embrace tech in order to keep onboarding times to tolerable levels. This publication has heard that in some cases a private bank can take up to two months, or more, to take a client on board.