Digital & Technology

Refinitiv and Appway forge partnership to streamline Onboarding and Workflow Services

Refinitiv announced the strategic partnership with Appway, revealing that it hopes to capitalise on the digital solutions offered by the firm by integrating their suite of onboarding capabilities into the Refinitiv BETA Platform, thus allowing wealth advisors and financial intermediaries using the BETA Platform to connect their end-clients with a fully digital onboarding solution.

Tim Rutka, the Head of BETA Platform at Refinitiv, stated in the press release that the motivation for the partnership came from the fact that “the global wealth management industry continues to adapt in search of next-generation digital onboarding solutions to meet evolving client needs” and that “Refinitiv remains committed to being that comprehensive single source.”

“Effective digital client onboarding solutions can help financial service institutions improve customer experience, reduce costs, increase revenue, enhance process efficiency, while managing compliance across operating jurisdictions” says Will Trout, global head of Wealth Management Research at Celent. “Digital onboarding solutions for Wealth Managers are no longer a nice-to-have option. As technology evolves so do client expectations.”

The partnership will allow Refinitiv to fully integrate Appway’s state of the art user experience, and capitalise on Appway’s digital solutions, which provide end-to-end coverage of account opening, and the entire client lifecycle, including including updating, closing of business relationships and regulatory reviews – whilst also remaining in compliance with regulations and risk-standards across multiple jurisdictions.

This partnership serves to strongly benefit from Refinitiv’s extensive experience supporting Wealth Management firms; this is support it provides through its Wealth Management solutions, which provide seamless integration across front, middle, and back office workflows.