Challenge:
Private banks running operations on Avaloq Core modules face several challenges. One of them is the uneven Avaloq knowledge across teams that can hinder efficiency, accuracy, and limit the full potential of the platform.
This use case outlines how a diagnostic tool can assess Avaloq knowledge levels within your bank.
Solution:
An Avaloq Knowledge Diagnostics can be used to:
- Identify Knowledge Gaps: Evaluate user proficiency in core Avaloq functionalities specific to each team’s role (e.g., client onboarding, portfolio management, regulatory reporting).
- Benchmark Performance: Gauge overall Avaloq knowledge within the bank compared to industry benchmarks or internal targets.
- Tailored Training: Pinpoint areas where specific teams require upskilling, enabling targeted training programs to optimize knowledge distribution.
Benefits:
- Improved Efficiency: Reduced errors and streamlined processes due to a more knowledgeable workforce.
- Enhanced Accuracy: Stronger understanding of Avaloq functionalities leads to more accurate data entry and reporting.
- Maximized Potential: A more Avaloq-savvy workforce can leverage the platform’s full capabilities to improve client service and operational excellence.
- Reduced Risk: Mitigated risk of errors and non-compliance due to a lack of Avaloq knowledge.
Diagnostic Process:
- Role-Based Assessments: Design questionnaires or conduct skills tests tailored to different user roles (e.g., wealth managers, risk analysts, operations personnel).
- Knowledge Evaluation: Assess user understanding of core Avaloq functionalities, configuration options, and best practices.
- Data Analysis: Compile and analyze assessment data to identify knowledge gaps and strengths across individual users and teams.
- Reporting & Recommendations: Generate reports summarizing user proficiency and suggest targeted training programs to address knowledge gaps.
Conclusion:
By implementing an Avaloq Knowledge Diagnostics, private banks can gain valuable insights into user proficiency and develop targeted training programs. This not only improves efficiency and accuracy but also unlocks the full potential of Avaloq, ultimately enhancing client service and achieving a competitive edge.
Here is the result of implementing an Avaloq Knowledge Diagnostic: