Case Study: TAMP's Client Onboarding Revolution with Quik! API

Overview

A prominent Turnkey Asset Management Program (TAMP) customer has redefined its client onboarding process by integrating Quik! API's into its workflow. This strategic move has enabled them to better serve the the independent broker/dealers they partner with, who collectively serve over 100,000 financial professionals, by significantly improving the efficiency and accuracy of processing forms.

Challenge

The TAMP faced a critical challenge in reducing the high error rates on completed forms, which was a common issue due to the complexity of financial forms. They needed a solution that could enforce strict field rules to ensure accuracy and compliance, all while managing a substantial volume of forms generated annually.

Solution

By utilizing Quik! API's and the Quik! Field Attribute Manager, the TAMP was able to set up 3,000 field rules, drastically reducing form errors by 95%. This level of precision in form completion has streamlined the onboarding process, leading to a significant reduction in processing costs and an increase in sales.

Results

• Wide Distribution Network: Their products are distributed through broker/dealers serving over 100,000 financial professionals.

• Dramatic Error Reduction: Errors on completed forms were reduced by 95% or more.

• High Volume Processing: The solution generates over 600,000 form pages annually.

• Competitive Advantage: The efficiency and accuracy of their solution have set a new industry benchmark, prompting others to seek similar capabilities.

Quik!'s Support

Quik! provided extensive support to meet the TAMP's need for complex and robust field rules, including conditionally required fields (i.e. requiring fields based on values in other fields). This support was crucial in helping the customer not only reduce processing costs but also in creating a competitive advantage that has become a model within the industry.

Partner Testimonial

"Working with Quik! has been an exceptional experience. Their team's responsiveness, outstanding service, and willingness to evolve the Quik! product have been instrumental in enhancing our solution. The ease of collaboration and the effectiveness of their APIs have allowed us to set a new standard in client onboarding within the TAMP space." - Director of Operations, TAMP

Statement from Rich Walker, CEO of Quik!

"This TAMP customer has exemplified the transformative power of Quik! API's. They have been a long-standing success story for us, showcasing the remarkable achievements that can be realized through our APIs. Their ability to dramatically reduce form errors and streamline their onboarding process is a testament to what we aim for all our customers to experience." - Rich Walker, CEO of Quik!

Conclusion

The TAMP's integration of Quik! API's has not only optimized their client onboarding process but also established a new industry standard for accuracy and efficiency. The partnership with Quik! has been a catalyst for growth, innovation, and competitive advantage, demonstrating the substantial benefits of a well-executed digital transformation in the asset management industry.