{"id":515,"date":"2022-05-24T12:09:00","date_gmt":"2022-05-24T12:09:00","guid":{"rendered":"https:\/\/iqeq.com\/ch\/insights\/top-5-tips-selecting-onboarding-tech-partner\/"},"modified":"2024-08-16T13:22:55","modified_gmt":"2024-08-16T13:22:55","slug":"top-5-tips-selecting-onboarding-tech-partner","status":"publish","type":"post","link":"https:\/\/iqeq.com\/ch\/insights\/top-5-tips-selecting-onboarding-tech-partner\/","title":{"rendered":"Top 5 tips for selecting an onboarding tech partner"},"content":{"rendered":"
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Selecting a technology partner can be demanding, particularly in the highly regulated world of financial services. The relationship between software and client truly is a partnership: a long-term collaboration requiring open two-way communication and complementary growth.<\/p>\n

And, of course, the implications of software reach beyond the screen. A\u00a0recent Gartner survey<\/a>\u00a0shows that technology is the top growing budget area for firms seeking to improve operational excellence.<\/p>\n

For financial services firms, onboarding is the initial key step and an opportunity to set the tone for a developing relationship with new clients. First impressions take\u00a0only seconds<\/a>\u00a0to form, so firms must put their best foot forward during the onboarding process or risk souring the client relationship from the start.<\/p>\n

Because choosing the right onboarding technology partner is so important for both internal and client relationships, the process warrants care and consideration. In this post, we\u2019re sharing our top five tips for making the selection.<\/strong><\/p>\n

#1: Consider the needs of tomorrow<\/strong><\/h4>\n

When firms engage in discovery sessions with software providers, they usually work from an internal \u201cshopping list\u201d of requirements to ensure the supplier can deliver a minimum viable solution to meet their needs.<\/p>\n

When creating\u00a0your<\/em>\u00a0shopping list, make sure to think past the needs of today. Consider your firm\u2019s needs for the coming years, and leverage the steer found in regulatory announcements.<\/p>\n

If rapid changes occur (sanctions, for instance), will your technology partner be able to keep up with the\u00a0<\/strong>speed of change<\/strong><\/a>?<\/strong>\u00a0Interrogate suppliers about their market intelligence strategy and jurisdiction- or firm-specific best practices.<\/p>\n

A successful partner should easily demonstrate robust and well thought-through new features and enhancements to existing functionality.<\/p>\n

#2: Hire people, not just software<\/strong><\/h4>\n

Spot the firms that invest in talented people with a genuine desire to learn and improve at every stage. Hire high-quality teams that are happy, educated, expert and engaging.<\/p>\n

Select a technology partner that has created a team with\u00a0<\/strong>intention and care<\/strong><\/a>.\u00a0<\/strong>After all, those individuals become a natural extension of\u00a0your\u00a0<\/em>team, too.<\/p>\n

Seek out teams that offer the following:<\/p>\n