Solving Statement of Accounts Delivery Challenges

Pixel Perfect: A Game-Changer for Wealth Management

USEReady’s Innovative Financial Solutions

Enhancing Efficiency for APAC Wealth Managers

For wealth managers and financial services firms, both information security and timely & accurate communication are incredibly important. In today’s highly regulated, uber-competitive market, even a minor slip-up on either count can affect customer perception and bottom-line. And no, we’re not talking about some hypothetical scenario either. This was a real concern for a top APAC-based wealth management firm that offers wealth planning, investment management, and estate planning to high-net-worth individuals (HNWI) in the region. The wholly owned subsidiary of a banking giant, it manages a portfolio exceeding USD 21 billion (as on Dec ‘23).

Introduction to the Challenge

Pixel Perfect Technology Overview

Implementation and Solutions

Results and Impact on Wealth Management

Understanding the Delivery Challenge

Key Features of Pixel Perfect Technology

Step-by-Step Implementation Process

Measurable Outcomes and Client Benefits

The firm leveraged a robust technology infrastructure to support its operations and customer service. This technological focus extended to its customer communication as well wherein it utilized digital channels to deliver investment insights, market updates, and personalized portfolio reports, keeping them informed and engaged throughout their wealth management journey.

The firm came to us seeking a secure, automated solution to send Statement of Account (SOA) emails to its 60,000+ HNWI account holders each month. The challenge was to dynamically fetch data from Tableau Dashboards for each account and generate password-protected PDF attachments in a regulatory compliant format for each user.

The client’s existing SOA delivery process involved manually extracting the data, formatting reports, and emailing them. This not only consumed significant time and resources but also increased the risk of errors and security breaches. That’s why it needed a streamlined process for accurate and secure SOA email delivery.

Pixel Perfect to the Rescue

This is where USEReady’s Pixel Perfect for Tableau came into the picture. Our powerful reporting extension offered the wealth manager a comprehensive solution for streamlining its SOA delivery process while addressing key concerns around data security and regulatory compliance. The standout features that made Pixel Perfect the ideal fit for the firm included:

Customized, branded reports

Pixel Perfect’s report formatting features allowed the firm to generate consistent, professional SOAs that adhered to all regulatory requirements within the established service level agreements.

Automated e-mail Delivery via Scheduled Bursting

Pixel Perfect seamlessly extracted data for each account from Tableau dashboards, automatically generated individual reports, and shared them with clients via email.

Dynamic Password Protection

Pixel Perfect’s dynamic password feature encrypted report attachments with a unique password, specific to each client.

Efficiency Gains and Happy Customers

By implementing Pixel Perfect for Tableau, the wealth manager improved its reporting time efficiency by 40% within set SLAs.

But perhaps the single biggest gain made by the firm was how the new and improved workflow enabled it to better support the regulatory compliance mandates for reporting. Plus, the automation of data retrieval and report generation also led to higher accuracy in the SOAs and dynamic password protection bolstered data security. 

“Pixel Perfect for Tableau has brought much needed sanity to our SOA delivery process. Automation has not only freed up valuable time for our staff but also ensured the accuracy and security of our customers’ financial information. We’re pleased with the efficiency gains,” said the firm’s VP of Operations expressing his delight. 

Prospects, especially those from regulated industries like banks and capital markets often ask us about Pixel Perfect’s ability to do reporting automation at scale. Given their large and often complex data volumes, it’s natural for them to be curious about the solution’s ability to seamlessly integrate with existing systems and workflows and automate reporting in a secure and regulatory compliant manner. More than anything, this success story is a testament to Pixel Perfect’s versatility and soundness.  

It’s a solution that’s truly transformative!