From Serving Customers to Preventing Crime: How Respond Helps One U.K. Financial Provider Improve Operations and Effectiveness

January 09, 2018

Posted by Martin Ellingham

Aptean Respond, Case Study, Customer Experience

 

Financial crimes, which already cost victims billions each year, are on the rise, which makes the work of St. James’s Place Financial Crime Prevention Team all the more critical. Luckily, the company and its customers have Aptean’s Respond solution on their side.

Established in 1991, U.K.-based St. James’s Place Wealth Management is a FTSE 100 company that provides wealth management and financial planning solutions to individuals, trustees and organizations. The company’s Financial Crime Prevention Team manages all corporate aspects of financial crime prevention. Part of the team’s work involves the logging and maintenance of an effective record keeping system to help meet this requirement.

Before choosing Respond, a case and feedback management solution from Aptean, team members were using a combination of Excel spreadsheets and email to manage their case workload. This offered the team a number of challenges:

  • Financial crime cases spread across several spreadsheets
  • A highly manual process of logging and tracking cases
  • Risk of information in spreadsheets being inadvertently changed or the spreadsheet corrupting
  • An onerous reporting process involving manually counting case types, resulting in inconsistent management information (MI).

Respond helps the Financial Crime Prevention Team be much more efficient and work in a more secure environment. “With Respond I’m able to understand workloads better: what’s being done, what’s not being done and what needs to be prioritized,” said Operational Manager Gavin Welch.

Ultimately, Respond aids the team in driving positive action from the results of investigations. With the meaningful MI produced from the data in Respond, St. James’s Place can identify where the biggest risks lie.

To learn more about how St. James’s Place uses Respond to improve its operations and effectiveness, read this recent case study.