Appian (NASDAQ: APPN) today announced availability of a new solution that accelerates customer and asset onboarding while reducing risk of implementation for treasury management, foreign exchange, and investment firms. The Institutional Onboarding solution delivers pre-built data records, AI-based document understanding, and packaged integrations to simplify and accelerate onboarding. The result is increased customer engagement and satisfaction from the first point of contact. All of this is delivered on Appian’s low-code platform, making it easy to configure the solution to a financial firm’s unique requirements and often complex legacy technology environment.

Onboarding institutional customers through manual processes and disconnected systems is difficult, slow, opaque, complex, and risky. Institutions must manage a variety of approaches, processes, systems and data sources - both within the institution and across the industry. The Appian Institutional Onboarding for Financial Services solution provides complete process visibility to internal constituents and customers, and allows institutions to prioritize their onboarding resources. The solution unifies customer communications across all channels, centralizes document management, and helps reduce the time it takes to identify and resolve potential risks stemming from variations in products, geographies, categories, and industries.

The solution features:

• Pre-built data records for Customers, Accounts, and Products. Using Appian’s unique Records data management capability, users get a complete, 360-degree view of a customer and the full onboarding context, regardless of where that data resides across the organization.
• Intelligent document understanding. The solution includes built-in AI services for intelligent content extraction and automated document assembly. This saves enormous amounts of time and effort previously spent manually parsing incoming documents and transferring data from one document to another.
• Business-user process control. The solution puts the power of process and task management in the hands of onboarding professionals. This includes automated import of tasks and checklists from legacy Excel spreadsheets.
• Pre-built integrations to key legacy systems. The new solution leverages Appian’s Connected Systems architecture for zero-code integration to Salesforce.com. It also includes integration to the Office of Foreign Assets Control (OFAC) database maintained by the US Department of the Treasury.

“Emerging FinTech, constantly changing regulations, and disruptive new business models are all increasing the pace of change in financial services,” said Michael Heffner, Global Industry Lead at Appian. “Despite this rising complexity, the need to quickly create strong new customer relationships remains. With our Institutional Onboarding Solution, we have eliminated the complexities of getting those high-value relationships up-and-running.” 

Because the solution inherits all of the speed, power, and security qualities of Appian’s low-code platform, it delivers faster value than traditionally-coded or commercial off-the-shelf onboarding solutions. Through visual composition, the solution is quickly and easily configurable to the unique way an organization operates, including low-code and no-code integrations across a typically complex financial firm IT architecture. The solution uses Appian’s powerful case management and intelligent automation capabilities to unify enterprise data and accelerate the pace of work. In addition, the solution delivers industry-leading security and compliance, mission-critical reliability, and unified governance.