Gamification can significantly boost the success of change projects by transforming the perception of changing conditions from a threat into an opportunity. This innovative approach has proven effective in various industries, such as automotive. Here, while drivers traditionally favoured sport mode, leading to high fuel consumption, post-2010, the eco-mode became gamified. Consequently, fuel-efficient driving became a personal challenge, engaging drivers in “free kilometres.“
Although this comparison might seem a stretch, it highlights the potential of applying gamification to other complex processes. Specifically, the extensive collection of know-your-client data presents a challenge in wealth management. Users often struggle with completing numerous unorganised CRM data fields, which is crucial for exploratory data analysis. However, the free-text format of the client’s life story, essential for explaining the origin of funds, remains underutilised mainly, even with the aid of AI.
This begs the question: why isn’t the onboarding of wealthy clients gamified internally? Imagine a system where the client’s situation and structure could be graphically designed using drag-and-drop icons, guiding the user playfully through the financial institution’s policies and procedures while logically completing necessary datasets.
Interactive CRM solutions
A CRM system like this could instantly alert for extra documentation, including wealth source checks and autofill all needed account opening forms. A guided, gamified process could ease tensions between the front office and compliance teams, speeding up account approvals.
The potential of a gamified Swiss CRM system in wealth management is enormous. Does anyone know of a CRM system in Swiss wealth management that uses gamification to streamline client onboarding?
Source: LinkedIn
