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Beyond the Brochure - Why Project Success Begins with the Proof of Concept

You’ve seen the demo and read the brochure. You’ve read a dozen RFP responses, and expertly managed conflicting requirements and competing stakeholder expectations. You’ve short-listed the vendors, and authored a business case that you can be proud of. 

In: Insurance
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AI and the Rise of the Bots

It’s still a little hard to get used to. For a number of years this would be the week I would make my way to the Big Apple, the financial services mecca of North America, to attend #CRMEvolution. The event used to take place in a hotel right in Times Square. There was always a flurry of activity all around.

In: Insurance
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Choosing The Right Vendor: Don’t Limit Your Analysis to Functionality

At NexJ, we take great pride in being a responsive vendor. This is a big part of our value proposition – our desire to be a strategic partner who contributes to our clients’ success. If you’re making a software purchase, I strongly recommend you factor vendor responsiveness into the decision making process. It’s an invaluable intangible. So what exactly do I mean by ‘responsive vendor’?

In: Insurance
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Financial Services Innovation and Insights

It’s 3:45 a.m. and my alarm is screaming at me to wake up. I reach for my phone to stop the blasphemous racket. By instinct, I manage to shut it off but the noise keeps blaring. I realize that I had set the alarm on my tablet as well. Good thing too, because that's the alarm that brought me to my senses. As someone predisposed to staying up late rather than waking early, the hour is more familiar for being the end of a day than the start of one.

In: Insurance
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Transforming a Contact Center into a Customer Engagement Center

In my recent blog, Customer-Centric Digital Transformation, I discussed the strategy for ensuring the customer is at the center of digital transformation. Today, I’d like to discuss one particular channel, the Contact Center. 

In: Insurance
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The European Market Braces for New Regulations

The financial services industry in Europe is undergoing massive regulatory change of late, perhaps more so than anywhere in the world. They’re not alone in feeling regulatory pressure, of course. Firms around the globe have been dealing with the impact of the last decade’s economic recession and financial crises, in the form of complicated, overlapping, and ever-changing regulations.

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Chatting with Developers: Agile Development Practises

I'm not a developer. I don't work with code, and though I use computers every day, I don't understand what's running in the background. But that's okay, because I'm a writer instead. So I spend a lot of time asking developers about their process and trying to understand how they do what they do and why. Fortunately for me, they tend to be very patient people.

In: Insurance
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CDM Enables Cost-Effective and Agile Data Mastering

Wikipedia defines Master Data Management as "the processes, governance, policies, standards and tools that consistently define and manage the critical data of an organization to provide a single point of reference".  Customer data is at the heart of every organization and is the most complicated data reference to master.

In: Finance
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Customer-Centric Digital Transformation

For some, it’s about reducing costs by modernizing the back office.  For others, it’s about leveraging disruptors within their enterprise.  For NexJ, it’s all about the customer.In the age of the customer, the customer is in control of their journey.  They dictate how and when they will interact with the firm.  

In: Insurance
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Chatbots, Robotics and Business Process Management - oh my!

On October 10, 2014 at NexJ’s client day, Julie Ask (@JulieAsk), Forrester Research analyst and co-author of The Mobile Mind Shift, spoke to our customers about the behavior changes occurring as a result of the adoption of smartphones and apps. 

In: Finance
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Integrating Advisor Desktops and Customer Portals

Even today, a key attraction for talented advisors (and more importantly their books of business) is offering a fully Integrated Advisor Desktop (IAD) platform. The big warehouses and the successful Investment Banking Divisions (IBD) know that integrating custodians/account management, portfolio management, order entry and management, financial planning, research, and Customer Relationship Management (CRM) are table-stakes these days. 

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Top 6 Things to Look For in Scheduling and Microsoft Exchange Synchronization

Today, we’re going to take a quick look at scheduling, a fundamental feature of a financial services CRM solution. It’s a necessity, however, many companies only give a few cursory questions about it in most RFPs we see. It’s a mistake to assume that all scheduling is alike. 

In: Insurance
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Need to replace Siebel? Take an evolutionary approach

Siebel was a great product. At least it was when I worked there 10 years ago. But it hasn’t really kept up with the times. What began as an innovative solution to firms’ customer management problems has become outdated. New technology, interaction channels and complex regulatory requirements have changed the way that financial institutions need to operate.  What firms need today is modern and flexible technology to keep up with market changes, and CRM specialized for financial services as @kateleggett of Forrester and I discussed in an American Banker webinar last year.

In: Migration
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Toronto Tech 2017

Toronto, my home town, is a great city. The Economist has ranked it as the best city in the world to live in. I’ve lived elsewhere, other Canadian cities and in the USA, but I keep coming back. That said, it’s not often that Toronto plays host to a conference that I would attend.  In 2017, however, two such events have already been scheduled.

In: Insurance
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A Prioritized, Evolutionary, Best-of- Breed Approach

As part of my job, I review a lot of articles about advisor desktops, platforms, and strategies. Rarely do I get to say that someone truly understands the reality of delivering and executing on them. I work with top wealth management firms regularly on their front-office solution road-maps and implementations, and I can tell you that it’s not easy. How do you cater for so much functionality in a usable but cost-effective way? Financial planning, CRM, portfolio and account management, order management, trade execution, statements and reporting, fee management, social media, etc. – it’s a lot. You cannot build all this in-house – you’re not a technology company, software is not your core competency, and it’s not economically viable to sustain. And as much as there will be a clamoring of vendors to tell you otherwise, the truth is that no “one vendor” can provide the right functional coverage to cater for all these needs.

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Customer Loyalty Analytics Part IV: Computing Lifetime Value

Last time we spoke about the importance of recognizing value immediately through agile implementation methods.  This time we are going to apply that to the domain of computing a lifetime value metric. So what is a customer lifetime value metric – without the algebra please! 

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