Case study

Saranac Partners

This week we sat down with Rick Bains, Head of Technology at Saranac Partners and user of Qwil.

Tell us a little bit about your business?

Saranac Partners is a private office delivering advice, access and execution across the full spectrum of client needs from the simple to the complex.

How important is technology to your business?

Our proposition and people are strengthened by the use of an integrated and scalable technology platform specifically designed for private clients. The latest technology, such as Qwil, also enables us to securely communicate and share data effectively both internally and with our clients.

You were one of the first adopters of Qwil. Why?

In our business communication is vital! We want to offer clients as many ways to talk to us as possible. We saw early on that social chat tools were becoming as important as email and more traditional forms of communication, and we wanted to offer clients a solution that combined convenience with security. This is where Qwil came in.

What were the key selling points for Qwil?

Qwil is a platform designed and built for banking professionals. Everything has been thought through with private banking in mind. It retains the look and feel of social chat platforms with the added security, rules of engagement, control of data and the integration potential. One key aspect also, is that it is branded for Saranac and differentiates employees from clients. Many platforms forget about staff and just think of the client or vice versa.

How are you looking to integrate Qwil?

Qwil currently runs out of the box with chats logged manually in our CRM systems. However, we aim to fully utilise their APIs to automate processes and integrate into our core platforms. Our clients want a seamless experience and Qwil can connect the various parts of the technology whilst staying a personal tool to engage.

What has been the reaction from clients? or from your employees?

The feedback has been great. Convenience and security are both extremely important to our clients and a tool that combines both is very attractive. As with any new technology, it takes time for both sides to adapt, but considering chat is widely used across generations, it is just a matter of time for it to become a key communication channel in the wealth management industry.

What would you say to your peers?

You should try it. It is always a challenge in our industry to offer new technologies that are also robust and secure. Its great in this instance that the hard work has been done for you.

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