Glossary of Terms

We have created this CRM / ICM Glossary of Terms to help you understand all the features (and technical jargon) associated with your software, and how they relate to your business processes.


Account Opening

The process of opening new financial accounts. We offer business process management that streamlines and automates account opening by guiding the front office data capture and validation process and the coordination of back office account review, approval, and maintenance.

Action Item

General term for all real-world actions a user must perform in CRM to sell to and service clients, such as attend a meeting or send an email. In NexJ CRM, action items are divided into schedule items and tasks.

Actionable Notifications

The ability to perform actions directly from a notification in NexJ CRM, within the context of that notification.

Activity Plans

Activity Plans are simplified workflows that standardize activities with multiple action items that can be sequential or independent. In NexJ CRM, activity plans are collections of steps (such as tasks or schedule items) that are automatically sequenced and assigned to the appropriate individual, user role, or work queue to accomplish a specific business objective or workflow. Activities can be triggered based on date, aging, or on system events. Activity Tracking & Analysis dashboards can be used to track the status of activity plans.

Activity Tracking

In NexJ CRM, activity tracking enables users to ensure certain activities or action items take place. Also used to display if the client is being contacted regularly or infrequently and sets target dates for the next touch or review. Displayed in an Activity Tracking & Analysis dashboard.

Advisor Productivity

In NexJ CRM, advisor productivity is the measurement and evaluation of the effective output of advisors. This can include service touch-point metrics, returns on investment, relationship building and management, new client acquisition, information management, risk management, and goals.

Anti-Money Laundering (AML)

Describes the legal controls, procedures, and regulations that require financial institutions and other regulated entities to prevent, detect, and report money laundering activities. These regulations target activities that include market manipulation, trade of illegal goods, corruption of public funds, evasion of tax, and activities that aim to conceal these actions.

Artificial Intelligence

Pragmatic AI, also called applied AI, is the artificial intelligence used in CRM. Pragmatic AI is made up of a number of technologies and capabilities, such as machine learning, image analysis, and natural language processing.


Any computer file, such as a Microsoft Word or PDF document, that is attached to an action item, contact, opportunity or other entity in NexJ CRM.

Automated Processes

Automated processes or workflows help to contain costs and increase advisor productivity by eliminating unnecessary manual tasks.



An icon that visually indicates information about action items and contacts in NexJ CRM. Badges display in the banner for action items and contacts when defined conditions are met, such as an upcoming KYC review or proactive touch.

Batch Operations

Batch operations, such as batch printing or batch emailing, are actions that users can perform on a group of contacts in NexJ CRM.

Batch Communications

NexJ CRM supports batch communications such as the printing of personalized letters or personalized email communications, including logging and creating follow-up activities. Batch emails can be sent to appropriately filtered lists of contacts based on complex business rules. Our Document Personalization allows users to personalize documents such as letters, forms, and envelopes by automatically merging data from the contact profile in NexJ into merge-field enabled Microsoft Word and Adobe PDF documents. Any information available to our Domain Model, including custom fields and integrated information, can be leveraged to streamline business processes and prefill data where appropriate.

Business Process

An activity or set of activities that will accomplish a specific organizational goal.

Business Process Automation (BPA)

The strategy a business uses to automate processes in order to contain costs. It consists of integrating applications, restructuring labor resources, and using software applications throughout the organization.

Business Process Management (BPM)

Business Process Management is a systematic approach to making an organization’s workflow more effective, more efficient, and more capable of adapting to an ever-changing environment.

Business Rules

A business rule in NexJ CRM is a rule that defines or constrains some aspect of business and always resolves to either true or false. Business rules are intended to assert business structure or to control or influence the behavior of the business. NexJ provides out-of-the-box business rules exposed to end users through specialized business interfaces, and also allows end users to build run-time configurable rules based on triggers that match against conditions and execute actions.



An approach to doing business that focuses on the client. This ensures that the client is at the center of a business’s philosophy, operations, or ideas. In NexJ CRM, all information, interactions, and transactions are centered on the client to develop a Comprehensive Customer View. This enables users to better understand, sell to, and service customers.


Compliance means conforming to a rule, policy, standard, process, or law. Regulatory compliance, specifically, means the effort involved in following relevant laws, policies, and regulations as applied by any applicable regulatory body or the company itself.

Comprehensive Customer View

The Comprehensive Customer View provides a 360° or holistic view of your contacts, in an easy-to-view and navigable format. This is exposed through our Integrated Desktop, which delivers a comprehensive view of front, middle, and back-office information. To present this information to users as a single application, this information is combined with CRM functionality and workflows in a flexible portal container with seamless context passing. In sum, you can quickly and effectively leverage company data and applications to better understand, sell to and service your customers.

Cross-Firm Referrals

Through firm-wide cross-line of business/cross-product collaboration that maximizes the value of existing customer relationships, cross-firm referrals allow companies to increase their revenue by cross-selling between different departments.


The practice of selling a different product or service to an existing customer. This practice allows businesses to increase the income from a client or to provide more complete service and drive customer loyalty in finance and insurance.

Customer-Centric BPM

Customer-centric business process management allows you to configure customer-centric workflows that are integrated with CRM and back-office systems. This allows you to service customers better and more efficiently by pre-filling workflows with existing information from CRM and other integrated systems, dynamically presenting the right fields and forms, and synchronizing new information back to integrated systems.

Custom Field

A user-defined field in NexJ CRM that stores miscellaneous information about a contact, such as their college or university. Can be a text, date, numeric, or currency value. Custom Fields can be used to search for contacts, create lists, generate reports, and segment the contact into groups for sales, marketing, and reporting purposes.



NexJ provides customer-centric dashboards that summarize business-critical KPIs and trends, and transform this data into actionable insight. NexJ Dashboards allow financial services and insurance companies to understand their organization's health at a glance across several metrics and KPIs. NexJ CRM provides many out-of-the-box dashboards centered on areas such as sales pipeline management, activity tracking, campaign management and service level management. NexJ CRM leverages data from multiple, disparate data sources to provide dashboard metrics using a wide variety of data visualizations. Dashboards are available to users across the desktop, tablet, and smartphone platforms.

Data Residency

Physical or geographic location of an organization’s data or information. Similar to data sovereignty, data residency also refers to the legal or regulatory requirements imposed on data based on the country or region in which it resides. NexJ enables firms to create a Comprehensive Customer View of customer data that complies with data residency requirements.

Data Residency Requirements

The legal or regulatory requirements imposed on data based on the country or region in which it resides.


In NexJ CRM, a document can be a Microsoft Word, Adobe PDF, text, or XML file saved in the contact’s Interaction Journal, such as a letter, brochure, email, spreadsheet, or presentation, to maintain a complete history of contact interactions. It can also be a file that is not contact-specific, such as a form, email, template, or information package that can be personalized and distributed to contacts as required using NexJ CRM’s Document Personalization and Batch Communications capabilities.

Document Personalization

Documents that are stored in NexJ Document Manager, such as proposal templates, can be personalized using NexJ CRM. Any Microsoft Word or Adobe PDF document or bundle of documents that is merge field-enabled (including envelopes) can be personalized for a contact or list of contacts with any information available in NexJ CRM, including integrated data. Users can create merge field-enabled templates in Microsoft Word or Adobe Acrobat and then store them in the NexJ Document Manager for personalization. Users can right click on the document in Document Manager to create a personalized version for a contact or list of contacts. The personalized version of the document is automatically saved to the contact’s journal for future reference.



A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties. The nature of fiduciary obligations differ among jurisdictions. NexJ provides business process management capabilities to enable advisors to fulfill their fiduciary duties.

Fiduciary Responsibility

A fiduciary responsibility, or duty, is the highest standard of care at either equity or law. The fiduciary has a duty not to be in a situation where personal interests and fiduciary duty conflict, not to be in a situation where their fiduciary duty conflicts with another fiduciary duty, and a duty not to profit from their fiduciary position without knowledge and consent. Ideally, the fiduciary should also not have a conflict of interest. NexJ provides business process management capabilities to enable advisors to fulfill their fiduciary duties.


Intelligent Customer Management

A fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties. The nature of fiduciary obligations differ among jurisdictions. NexJ provides business process management capabilities to enable advisors to fulfill their fiduciary duties.


A broad term in NexJ CRM for all communications between a contact and the organization, including emails, phone calls, and documents. Interactions are displayed and tracked in the contact’s Interaction Journal. Each contact’s, household’s, or organization’s Journal contains a complete history of all their interactions which can be populated by users or automatically logged by system processes. The frequency of interactions can be determined by the client’s tier through NexJ Customer Loyalty Management.

Interaction History

Captures all client interactions, communications, and secure conversations tied to a financial account, holding, or transaction in NexJ CRM.

Interaction Journal

The NexJ CRM Interaction Journal provides the entire history of contact interactions. From the Journal, users can instantly view a complete record of both historical and future interactions with any selected contact, household, or organization. Users can roll up interactions along defined relationship hierarchies such as a household, company, or ad hoc hierarchy to view all the interactions for a group of contacts. Access to and ability to share contact data, emails, calendars, and tasks within the solution is controlled through user roles and data level security.


Machine Learning

Machine learning is an application of artificial intelligence in which systems continuously improve and refine their output based on data inputs, analytics, and outcomes. Machine learning activities occur without the intervention of manual programming.


Open Banking

Open Banking delivers enhanced capabilities to the marketplace using a collaborative model where a customer's banking data is shared between two or more unaffiliated parties using APIs. Think of it as a sharing of hitherto privately-held resources to come up with better ways to manage a customer's money.


Quick Responses

Actions that you can perform directly from a notification in the notifications stream in NexJ CRM. The quick responses that are available differ depending on the notification’s subject area.


Relationship Hierarchy

The Relationship Hierarchy in NexJ CRM presents contact and organization relationships in a hierarchical list. Users can expand the list to view details of the parent-child relationships (such as the relationship between members of a household or related companies) or the arbitrary relationships (such as the relationships between a client and the client’s accountant) for the contact.

Relationship Modeling

Relationship modeling in NexJ CRM maps households, extended households, legal entities, trusts, companies, portfolios, and spheres of influence to drive referrals and increase share of wallet and household.


NexJ CRM has flexible reporting capabilities out-of-the-box including pre-defined reports, ad hoc reporting capabilities, and integration with third party warehouses, data marts, and BI tools. NexJ also provides on-screen dashboards to provide users with real-time, at-a-glance information about leads, opportunities and accounts and consolidate sales information for sales managers. This allows organizations to provide clients with personalized, comprehensive portfolio and performance reports and manage sales performance and forecasting. NexJ Reports can include any data available to the NexJ Domain Model, including integrated data and custom fields.



SmartForms are dynamically guided forms, a business process management component of NexJ CRM. With fully integrated feeds from CRM and other systems, business users start with as much information as the company has available. The time and risk associated with manual re-entry of data is therefore avoided. Forms dynamically adjust themselves based on the scenario and information collected. Pages tailor themselves and guide the users’ actions as they answer a series of questions. Processes conditionally branch out to common sub-flows depending on users’ answers. This helps take the guesswork out of customer processes and streamlines the collection of all required information.



The practice of selling a more expensive product or service to an existing customer. For example, selling a platinum credit card with higher fees but more perks than the customer’s existing card.