3 Best Practices for Client Portals in Financial Services

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  • Published: 1/1/0001 12:00:00 AM
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Over the years Konverge has built all kinds of applications for financial services organizations. From derivatives trading platforms to portfolio management systems, we’ve seen it all.  However, the most common project we’ve been asked to undertake is a Client Portal.  Whether you’re a hedge fund, an insurance broker, or a financial planner, everybody wants an effective, efficient way to interact with their client base.

Here are three Best Practices we’ve developed when building customer portals in Financial Services

1. Get Real -

It is worth the extra time and effort to present your client with real-time data (or near real-time as the markets allow).  There are all kinds of free solutions like Google Finance available today that offer real-time data. It takes a little more effort, usually through additional integrations, but the effort is worth it. Clients are not going to be satisfied with overnight batch processes these days - they want their assets marked to market.

2. Cross Sell

Many financial services firms are offering a large basket of products and services to their clients today. It’s not that difficult to add a little native intelligence to a portal to identify cross sell opportunities.  This doesn’t have to be as sophisticated as what you would see on Amazon or the other retailing sites.  It can be as simple as asking a question when the client signs in or signs out, like “Did you know that we now offer business insurance?” or “Have you heard about our Tax Consulting services?”.

3. Chat it Up

It’s relatively straightforward and inexpensive to add a “Chat” capability to your portal.  Giving your clients an opportunity to get assistance from a live person can completely turn around their portal experience.  The chat can also lead to cross sell and up sell opportunities.

A properly designed and implemented Client Portal can be a boon to any financial services business. Your portal can increase client satisfaction, reduce costs, and uncover new sales opportunities.  Follow these three best practices, and you’ll be on your way to an effective, efficient Client Portal.


By: Ken Tucker

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