Large Wealth Manager Saves Valuable Time with CENTRL’s DD360 platform

Client:

Large AUS Wealth Management with $1.5+B in investment, superannuation, and retirement product savings for millions of its members.

Business Challenge:

• Fully manual processes led to inconsistencies, inefficiencies, and increased risks in aligning manager-provided information with internal controls across ESG, IDD, and ODD frameworks
• Team capacity suffered due to hours spent on repetitive, manual tasks
• Lack of standardized processes meant critical details were often missed in due diligence process
• Firm could not accurately score, rank, or measure risk, undermining its decision-making process

Solution:

• Streamline and standardize DDQ process across internal stakeholders for transparency with DD360
• Build and implement a consistent framework by automating mundane, repetitive tasks
• Implement robust dashboards and reporting capabilities to ensure all data is accurately reviewed
• Time savings will allow the team to engage in more substantive touchpoints with managers, enhancing relationships and oversight
• Freed up time gives way to exploring additional value-add initiatives to enhance member experiences

Impact:

• Response rates improved with 98% of managers responding to the initial DDQ within DD360 and over 85% submitting on time
• Time spent on DDQs reduced by more than 700 hours annually
• The success of DD360 has led to broader use across other business areas to solve similar challenges
• With newly freed-up time, the superannuation is exploring additional value-add initiatives, further increasing operational efficiency