OpenText MBPM

Challenge

As a rapidly growing financial services organization, UBS Italia on-boards numerous new clients each month. Given each applicant discloses highly sensitive financial information they must go through an intensive application approval process. However, after analyzing its new client on-boarding and client contract archiving processes, UBS Italia discovered that both business processes simply could not support its thriving business.

Two key departments within UBS – Italia, with similar objectives, are facing more and more complex and specific challenges:

• Eliminate paper-intensive processes
• Reduce time of new client onboarding
• Improve and automate document archiving

Solution

Once UBS Italia recognized it required a solution to transform its client on-boarding and document archiving and retrieval processes, it turned to its trusted business solutions provider and OpenText partner, DocFlow. With the guidance of DocFlow, UBS Italia selected OpenText Metastorm BPM (MBPM) Client On-boarding to help automate, manage and control all of their client on-boarding processes. Since deploying OpenText MBPM, UBS Italia has been able to drastically improve both its new client on-boarding and document archiving processes. OpenText’s MBPM Client On-boarding web-based interface enables UBS business users to perform a variety of activities in a fraction of the time they did before. Now, UBS Italia has a system that supports correct data entry, reduces redundancy and allows for automatic data consistency controls. Users can leverage automatic checklists to easily and conveniently monitor the status of a contract. Instead of duplicate, partially completed forms or missing critical information being passed internally from department to department – UBS Italia now has a synchronized authorization process enforcing consistency across the organization.

• UBS Italia was able to significantly improve and digitize the process used to capture, index, archive, and retrieve all client contracts.
• Once all required data checks have been completed, OpenText MBPM enables them to electronically archive all contracts using a central scanning unit. Through this process, each approved contract is marked with a unique barcode, which is fed through a scanner (capable of processing mass quantities of documents) and automatically indexed to all other documents matching the client’s assigned barcode.
• Users can access all client documents in one secure location in only a few seconds.

Results

Since implementing OpenText MBPM Client On-boarding, UBS Italia has gained visibility and control into all processes involved in new client on-boarding and document archiving. UBS Italia has been able to significantly reduce the overall time spent on new client on-boarding in the following ways:

• Reduced account validation from 1-2 business days to 1 business day
• Reduced new account acceptance from 5 business days to 3 business days
• Avoid a team dedicated to diagraming, all the staff of the different departments using Corporate
• Reduced new account opening (from the client perspective) from 12-13 business days to 10 business days
• Reduced average number of data entries and document mistakes per contract from 17 to 8
• Reduced the time spent per contract by the DDM to manage documents from 6-7 hours to 1-2 hours, with a total reduction of 75%

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