Highlights
- 25-40% increase in adviser productivity through automation
- Up to one day per week returned to advisers through streamlined processes
- More than 20% increase in adviser business growth capacity
- Secure, FCA-compliant client onboarding and advice management
- Single Dynamics 365 platform supporting 700+ firms and 4,000 advisers
The challenge
Openwork had outgrown its legacy systems for managing customer records and advice processes. With a large and growing network, the organisation needed a centralised, customer-centric platform capable of supporting diverse requirements across multiple firms.
The challenge was not only scale, but complexity. Different firms within the network often interact with the same customers in different contexts, requiring careful handling of data access, security and segregation.
The organisation also needed to manage increasing administrative costs in a highly regulated environment, while improving efficiency and supporting compliance requirements such as Know Your Customer and suitability processes.
Ben Revill, Financial Services Business Manager, said:
“Openwork needed to identify the right technologies and partners to support a broad range of advice and servicing processes while enabling us to scale and evolve.”
The Solution
Using Microsoft Dynamics 365, Transparity delivered a secure, integrated practice management platform that supports the entire customer advice journey. Advisers can manage everything from needs assessments, risk profiling and suitability reviews through to product recommendations, onboarding and ongoing servicing within a single system.
The solution integrates with Microsoft 365, Power Platform and key third-party services including identity verification, anti-money laundering checks, document generation and e-signature capabilities.
A proof of concept was developed to validate the approach, including a customer portal and a secure data model. Following successful validation and feedback from advisory firms, the full solution was developed using an agile methodology.
Working in sprints, Transparity collaborated closely with Openwork’s IT and business teams to deliver functionality driven by user needs. This approach allowed the solution to evolve continuously, incorporating feedback, onboarding new firms and adapting to changing requirements.
The system was configured to support complex scenarios, including multiple firms working with the same customer, while ensuring strict data segregation and compliance.
Where necessary, a hybrid delivery approach combined agile development with more structured methods for areas such as data migration, integration and portal development to ensure stability and control.
Craig Woodhouse, Technical Consultant at Openwork, said:
“The Microsoft Dynamics 365 platform provides the flexibility and proven capability we need to deliver market-leading customer experiences while maintaining robust security and compliance.”
The Impact
Openwork now operates a single, secure platform that brings together customer management, compliance, onboarding and advice processes across its network. Advisers, administrators and support teams work from a consistent set of data and workflows, reducing duplication and improving operational efficiency.
The impact has been significant. Process automation and integrated workflows have delivered productivity improvements of between 25% and 40%, while reducing the manual effort associated with compliance administration and client onboarding. Advisers have been freed up by as much as one day per week, creating more time to focus on client service and business development.
The network has also exceeded its target for onboarding new business, helping advisers increase capacity and generate income growth of more than 20%. With built-in controls, mandatory compliance processes and secure data segregation, Openwork can continue to grow while maintaining confidence in its governance and regulatory obligations.
Benefits
Centralised customer management
A single system provides consistent and secure access to customer data across the network.
Improved efficiency
Automation and streamlined processes reduce administrative workload and operational costs.
Enhanced compliance
Built-in controls and data segregation support regulatory requirements and risk management.
Scalability for growth
The platform can easily accommodate new firms, users and services as the network expands.
Flexible and future-ready
Agile delivery and low-code capabilities allow the system to evolve alongside business needs.
Working with Transparity
“The combination of agile delivery, flexible technology and the expertise of the Transparity team has enabled Openwork to deliver a platform that meets the complexity of our network while supporting future growth and innovation.”
