New accounts opened with associated transactions worth more than a $1 Million executed on the first day in operation
Toronto, March 1, 2011 — NexJ Systems Inc., a leading provider of enterprise CRM solutions for the financial services, insurance and healthcare industries, today announced that ATB Investor Services, the wealth and investment subsidiary of ATB Financial, the largest Alberta-based financial institution, with assets of $26.5 billion, is leveraging NexJ Contact for Finance to advance their Wealth Management Foundation Program.
Leveraging the Business Process Wizard functionality of NexJ Contact for Finance, a Smart Forms process was created and formed the basis for the first phase of ATB Investor Services’ Wealth Management Foundation Program. The process automates new account creation by populating forms with client information already in the system, validating that the forms are completed properly then submitting the forms to compliance as well as the Internal Operations Group.
The value of automating the new account process, reducing the time required to open an account from a minimum of three days to just hours, was evident on the first day in operation as ATB Investor Services was able to open and approve new accounts and execute transactions related to those new accounts valued at more than $1 Million.
“ATB Investor Services is a great example of a financial services company that wants to gain competitive advantage and differentiation through the implementation of next generation software that addresses their unique business requirements,” said William M. Tatham, Chairman and CEO, NexJ Systems Inc. “That our solution was able to directly impact on ATB’s ability to save time and make more money from the moment the system went live further substantiates that NexJ is the leading choice when it comes to enterprise CRM solutions for the financial services, insurance and healthcare industries.”
With the Smart Forms process in place, the new account team receives forms electronically as tasks in a queue of requests that are visible to all team members and that can be assigned based on transaction type and priority. Through the validation capabilities built in to the system, the team should always receive accurate and complete new account forms the first time they are sent. The process further includes electronic approval. This is opposed to the manual, paper-based method previously employed where there was no definitive assurance the forms that were hand carried to compliance were completed properly and optimally managed through to approval.
“In addition to providing our advisors with a comprehensive view of our customers, the implementation of NexJ Contact for Finance has provided us significant business benefit including the ability to automate our new account process. That we were able to create new accounts and execute material transactions within a day, on the first day in production, serves as evidence that we made the right decision in selecting NexJ,” said Michael Frederick, Senior Vice President and CFO, ATB Investor Services. “NexJ proved to be a valuable business partner during the implementation of the solution. We look forward to continuing our relationship as we advance to the next phases that will further allow our advisors to save time and more easily build their business.”
About ATB Financial
ATB Financial is the largest Alberta-based financial institution, with assets of $26.3 billion. It provides Retail Financial Services, Independent Business and Agriculture Financial Services, Investor Services, and Corporate Financial Services to more than 680,000 Albertans in 243 communities. It provides service through 166 branches and 130 agencies, telephone and Internet banking, a Customer Contact Centre, and Automated Banking Machines. ATB Financial was established in 1938 and has been a provincial Crown corporation since 1997. ATB has been named one of Canada’s 50 Best Employers by Report on Business Magazine, one of the 75 Best Workplaces in Canada by the Great Place to Work Institute, and one of Canada’s Top 100 Employers and Alberta’s Top 50 Employers by Mediacorp Canada Inc.
About NexJ Systems Inc.
NexJ Systems Inc. is an innovative provider of next generation enterprise customer relationship management (CRM) solutions for the financial services, insurance, and healthcare industries. NexJ was founded in 2003 by an executive management team with extensive experience in the successful design and delivery of large-scale, integrated, enterprise software solutions. NexJ’s people- centered applications provide a comprehensive single view of the customer across the enterprise.