Finserv Leaders Weigh In On Disclosures and Martech Pain Points


When you ask people, “What are you hearing?,” the insights are so valuable. Such was the case in a recent series of discussions with members of the Naehas Solutions team. In their roles, our platform partnership experts regularly exchange industry trends and tools with others directly involved in the work of landing and expanding customer relationships. So I’ve been listening and learning from a range of smart people with “fresh intel.”

Here is a short round-up of issues directly impacting those involved in managing disclosures. The businesses? Banks, wealth management firms, fintech and insurance. The sources? Experienced DX and CX experts from consulting firms, marketing operations leaders, digital services team members, and compliance and legal managers.

The goal? To address top priorities and pain points for finserv marketing executives in 2022.

Q: What are the top challenges for bank marketers today?
A: Staying ahead of the competition requires staying current on proven solutions which address six key issues: low efficiency, high cycle times, scalability, compliance risk, errors in disclosures and inconsistent channels.

Marketing technology leaders in financial service organizations of all types and sizes face similar and intense challenges in this complex, heavily-regulated industry: increased volume of offers, highly-manual, error-prone approval processes, pressure to increase speed-to-market, and risk management.

When seeking a vendor to help deliver greater efficiencies and improved accuracy, bank marketing teams place tremendous value on trust, proven performance and partners who understand the complexities in which they operate, and find solutions to achieve results.

12 scaledQ: How are financial service leaders maintaining their competitive edge?
A: There is a common thread of concern that comes down to a few key challenges.
Whether the title is Marketing Operations, Marketing Execution, Segment Leader, or other, marketing technology leaders today are looking for help in driving innovation. Digital transformation is seen as the best pathway to landing and expanding customer relationships. A strategic spotlight on personalization and profits.

Those leading the pack follow fundamental guideposts that create customer experiences and compliance efficiencies.

Success Criteria established by top financial service marketing teams typically focus on three key goals:

  1. Streamline the process and eliminate redundancies
  2. Reduce numerous rounds of creative and legal approvals
  3. Improve accuracy and compliance results

With a greater awareness of the ways automation drives efficiencies and supports compliance requirements, martech leaders are trusting technology to deliver proven solutions. This is helping firms realize better outcomes that meet the needs of the enterprise, and regulators.

Q: How can the challenges of legacy systems be addressed to improve outcomes?
A: Time and again, we guide clients in leveraging technology to improve a disclosure management process that is extremely inefficient, costly, and error-prone. This impacts marketing, compliance, legal and IT divisions across the enterprise. Time to market is lengthened due to manual approval processes of marketing collateral reviews. In such a highly-competitive marketplace today, transformation of the disclosure management process with automated platform technology becomes a marketing force multiplier. The ROI is immense.

So for large banks struggling with legacy systems, we can come in as a trusted partner to dramatically improve productivity and, as a result, profitability.

9 scaledAutomation is at the core of best practices being implemented in this highly-regulated and complex industry. We hear this often from our clients after they have realized enterprise-wide improvements. And it’s what our DX and CX partners are telling us as they orchestrate digital transformations and change management in the finserv organizations they serve. It’s very common to hear from martech teams who struggle with legacy systems. Many, after seeing the demo and learning about relevant case studies, want to also capture significant outcomes by automating their Disclosure Management. How? By implementing best practices to address pain points, and improve the process. Simply, this industry leading cloud meets objectives by realizing workflow efficiencies, providing supporting tools, storage and cycle times.

Q: How do AI-powered platforms address these needs?
A: The simple answer: Automated disclosure management.

If you’ve tuned into any of the webinars we’ve hosted with DX and CX leaders, you’re aware of ways we’ve collaborated with financial service clients to deliver a range of results. It’s why we’re focused on championing the value automation delivers.

Naehas provides a customer experience cloud purpose built for financial services companies to help create and accurately deliver truly personalized products, pricing and experiences to their customers. These solutions directly address key pain points the industry presents. With compliance and auditability built-in, our platform solution streamlines content creation, marketing reviews and disclosure management so that you can look outward to growth and innovation while managing risk. By seamlessly integrating with existing martech and backend systems, Naehas brings a modern, centralized platform for managing, accelerating, and fulfilling customer experiences.

6 scaledPurposely-built platforms, powered by AI, answer the needs sought by marketing teams solving for enterprise-wide compliance. We regularly collaborate with leading organizations, including 4 of the 5 top financial services companies. Tapping our deep industry experience, and assessing their needs, we are able to help them accelerate time to market, increase response and conversion rates, reduce costs and eliminate compliance errors.

Q: What are some examples of ways digital automation delivers impactful benefits?
A: Here are just a few of the ways platform technology drives outcomes. These were part of the solution we presented to a Top 5 wealth management firm.

  • Develops a global disclosure content directory and organizes data into content sets
  • Develops a business logic of keeping Schumer versions as global “matrix” with embedded rules
  • Re-engineers creatives to assign the appropriate disclosure version to each package

Q: What specific outcomes can be expected when transforming disclosure management?
A: Initial Testing Results from one Top 5 wealth management firm were positive. Strong operational outcomes are expected, based on preliminary findings:

  • Instead of updating hundreds of versions independently, updates are made to source versions and published globally in under an hour
  • Eliminated outside ad agencies and creative and legal review reduced to final sign off

These are just a few of the many, many benefits that are delivered by digitally transforming the disclosure management process.

A deep dive into disclosures is important to help those facing these challenges. No matter the size of the organization, the marketing musts are the same: Reducing risk, eliminating redundancies, improving accuracy and, as a result, improving the regulatory compliance process. The most competitive organizations are taking time to listen, to learn and then to leverage their new-found knowledge for meaningful outcomes.

Likewise, I’m eager to continue my listening tour to tap some of the best industry experts. As you’ll see in future pieces, purposely-built for marketing leaders in highly-regulated industries – much like our technology, I’ll keep my eyes and ears open to best practices, new learnings, and innovative technologies driving performance.