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Chartis: Customer Satisfaction

iMeta

Learning how to make customers happy never goes out of fashion, and is an evergreen topic that has filled the pages of business books for decades. When it comes to risk technology, it is client lifecycle management company iMeta that appears to have discovered the recipe for success, achieving the highest score for customer satisfaction in the RiskTech100® ranking, and thus winning the RiskTech100® 2019 award in that category.

iMeta is all about clients – both from a technology and a delivery perspective. The UK-headquartered vendor provides client data management software and services to institutional brokers, dealers and wholesale banks, enabling organizations to automate and manage the complex data required to transact with customers and meet know-your-customer (KYC) and anti-money laundering (AML) regulatory compliance needs.

The company is on a mission to provide technology that meets the client expectations set out in the sales process, and Ben Marsh, CEO, iMeta says: “What makes us stand out is a combination of being honest with customers about what we can do for them and then focusing very hard on helping the customers meet their objectives.” To achieve this, there is a focus on understanding the key success criteria for customers, as well as delivering on promises relating to timelines and budgets.

From a product perspective, the offering is also purpose-built for the domain. “There are many elements of our product that allow it to be particularly successful,” says Marsh, who highlights that data-centricity is integral to how iMeta delivers improved efficiencies to clients.

As KYC and AML functions mature, the industry focus is moving from processes to data, which supports the business case for data-driven systems. Marsh says firms are increasingly trying to step away from process-driven architectures as the realization grows that data is at the core of robust risk management strategies – and this is what iMeta delivers. Customer risk profiles have generally been under regular review, but Marsh explains that

RiskTech2019 Category Winner iMeta

the profiles do not usually change, so firms are now prioritising data-driven architectures that will allow them to identify events that trigger changes in a risk profile instead.

The trend towards data-centricity also contributes to upholding higher customer satisfaction. Customer experience and operational efficiency is driving a move to data-centricity, he explains, adding that banks with an architecture that allows them to reuse data on customers can deliver a more positive customer experience and also avoid duplication in data processing efforts. “As a customer, you want your bank to be able to reuse the data across many interactions,” he says.

iMeta is intent on delivering the technology that will enable firms to do just this in the years to come. “We’re trying to build on what we’re doing already,” says Marsh.

RiskTech100® 2019 Winners’ Review