Empowering Digital Onboarding Champions: The Mako Customer Success Journey

Empowering Digital Onboarding Champions: The Mako Customer Success Journey

Customer onboarding is a critical function of any wealth management operation. To benefit from operational improvements, most firms are now adopting technology that will allow them to modernize and scale their business. Digital onboarding software can bring massive benefits like rapid onboarding, improved data integrity and an enhanced user experience. However, building a fully digital system can be challenging, and achieving success needs the whole company's engagement.

The journey of wealth management onboarding goes beyond a series of forms to be filled out. It is the beginning of your client's journey, conveying who you are and the level of care they can expect from you going forward. 

Navigating new processes like digital onboarding can be overwhelming. That’s a big reason why Mako Fintech has a dedicated Customer Success department to help guide you in this process. 

The Customer Success team at Mako is your copilot in navigating your digital transformation and ensuring successful adoption once the solution is built. Mako’s CS team offers extensive training programs for all our clients to help them understand our product and digital onboarding as a whole and its impact on wealth management businesses.

This article is based on an interview with Mona Zabet, VP of Customer Success at Mako Fintech. She explains how her team coaches clients and how you can prepare yourself before your digital customer onboarding journey.

What is Customer Success?

Customer Success is a core business department that helps customers achieve the desired business outcomes through the use of software. It is an umbrella term that encompasses customer onboarding, education and ongoing support, account management, and proactive counselling on future product usage. 

Mako has seen tremendous growth over the past few years. We have the privilege of incorporating our cutting-edge technology with some of the largest institutions in Canada. With this growth, naturally, there emerged a need for a client-focused team dedicated to our clients' success. 

Last year, Mako established the Customer Success team to demonstrate our strong commitment to our clients. This team is responsible for our existing Mako clients, specifically focusing on initiatives such as training, onboarding, enablement, enhancements, and managing escalations.  

The Mako Process

Your journey at Mako begins with a handoff from Sales to Customer Success. All of our clients are assigned a dedicated Customer Success Manager who will be their point person for their entire Mako journey, from signing to implementation and all the way to launch and maintenance. 

Mona says the client's success is our success. Our team is judged by key metrics such as usage, retention, and responsiveness. Focusing on usage, if our clients are not using our product, then we are not doing a very good job. 

We employ strategies such as training and feedback sessions to ensure our clients are getting the most value out of this product. We help them identify areas of product improvement that will benefit their business. We also advocate for their needs internally to our product and development teams. Essentially, we are the voice of the client and our success is always tied together.

We are incredibly proud of the results we have seen since establishing this dedicated team. We hit record-breaking usage numbers in 2023, saw 100% retention rates since the creation of Customer Success, and have seen a notable increase in client satisfaction. 

Supporting Customers Throughout Their Journey

Your advisors must be trained to adequately support their clients as they navigate digital forms. By offering training resources, and marketing materials and helping you prepare your launch, our Customer Success team ensures wealth management offices have the tools and knowledge to offer a superior customer experience. 

Mako’s Customer Success team can provide you with key growth metrics such as workflow completion, retention, and growth rates. These statistics will help you measure digital onboarding success, gauge customer satisfaction, and identify areas for expansion and improvement. Below is what Mako client Jessica Smith, Senior Manager of Operations at Designed Securities, had to say about her experience:

“As an early adopter of the Mako platform, the Designed team has used the platform extensively and has been a part of Mako’s growth journey. Admittedly, last year as our usage increased on the platform to meet the tremendous growth of our business, we had some issues as it related to relationship management and getting full value of the platform.

Since the introduction of the Customer Success team, however, they have helped us immensely in identifying areas for improvement, managing product enhancements, reducing escalations, and making themselves readily available to our team.

In particular, they advised us on a few changes we should make to our forms and workflows, prefilling certain items and giving advisors and customers alike a truly white-glove experience. Their advice and suggestions have definitely made us use Mako to its full potential"

Driving Success 

The digital onboarding journey is a crucial element of customer engagement in the wealth management industry. Advisors must understand and address common challenges faced during this process to provide the best digital onboarding experience. 

Mako’s success is intimately tied to the success of our customers; it’s why we love seeing clients grow their business through the use of our software. From a smoother implementation to better training and ongoing product usage tweaks, our customer success team enables everyone’s growth.  

To learn more about Mako’s solution and the ways our customer success team can support you, book a demo today.

Photo by Christina @ wocintechchat.com

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