at Financial Technnology Year
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Features in Workflow Management Systems
for Client Service and Operations
Platforms that automate operational processes, track client service requests, manage task assignments, and ensure timely completion of administrative activities.
We ask vendors to mark their product against our feature list. It is not available for all products and in some cases we have derived data from publicly available sources. The list of features follows. Vendors can add a further 10 key features of their own.
Analytics & Reporting
Tools to analyze workflow data, operational metrics, and report on productivity, compliance, or bottlenecks.
- API Access to Analytics Data
- Allows access to workflow analytics data via APIs.
- Compliance Reporting Templates
- Prebuilt reports for regulatory and compliance standards.
- Custom Report Builder
- Users can design and save custom reports.
- Data Retention for Analytics
- Duration of historical analytics data available.
- Data Visualization Library
- Charts, graphs, and widgets for exploring data.
- Drill-down Capability
- Analyze metrics at increasing levels of detail.
- Exportable Reports
- Download or email reports in common formats (PDF, XLS, CSV).
- Productivity Tracking
- System metrics on throughput, delay, and bottlenecks.
- Real-Time Dashboards
- Customizable dashboards showing live metrics.
- Report Scheduler
- Automated, periodic report generation & delivery.
Client Communication & Collaboration
Tools supporting secure communication and collaboration between advisors, service staff, and clients.
- Activity Timeline/History
- Centralized tracking of all client communications and interactions.
- Automated Client Notifications
- Automate status updates and alerts to clients during workflows.
- Client Notification Delivery Methods
- Number of client notification channels (SMS, email, app push).
- Client Response Tracking
- Track client acknowledgement or responses to notifications.
- Document Collaboration
- Allow clients and team to comment or edit shared files.
- E-signature Integration
- Collect legally binding signatures through the system.
- Integrated Messaging
- Communicate with clients and team members within the platform.
- Portal Custom Branding
- Customize client portal appearance for corporate branding.
- Secure Document Sharing
- Upload and exchange sensitive documents with clients securely.
- Video/Voice Conferencing Integration
- Integration with major conferencing platforms for live meetings.
Compliance, Audit, & Security
Features directly supporting compliance with industry regulations, secure data handling, and robust audit mechanisms.
- Access Timeouts and Lockouts
- Automatic user session timeouts and lockouts for inactivity.
- Automated Compliance Checks
- Workflows can trigger compliance or risk alerts automatically.
- Comprehensive Audit Logs
- Full audit logs of user and system activities.
- Data Encryption (in transit & at rest)
- Encrypts client and workflow data at all stages.
- Data Retention Policy Engine
- Configurable rules for data retention and deletion.
- Incident Response Tracking
- Built-in workflows for managing and reporting security incidents.
- Penetration Test Frequency
- Number of external penetration security tests per year.
- Privacy and Consent Management
- Capture and manage regulatory consents from clients.
- Regulatory Compliance Frameworks
- Built-in support for financial industry regs (SEC, FINRA, GDPR, etc).
- Third-Party Security Certifications
- System is certified against SOC2, ISO27001, or similar.
Configuration & Maintainability
Features supporting customization, ease of updates, and maintaining complex workflows over time.
- Automated Backup Scheduling
- Configure regular backups of system and configuration data.
- Automated Updates
- Receive and apply version updates automatically.
- Configuration Documentation
- Automatically generate or update system configuration documentation.
- Configuration Version Control
- Track changes to workflow configurations and rollback if needed.
- Custom Fields and Forms
- Add and configure user-defined fields and forms.
- Integration Test Tools
- Built-in tools for testing integrations before production rollout.
- No-code/Low-code Customization
- Business users can configure fields, rules, and flows without coding.
- Rolling Back Failed Deployments
- Undo unsuccessful configuration or workflow deployments.
- Sandbox/Testing Environments
- Safe environment for testing configurations before deployment.
- Scriptable Business Logic
- Ability to define custom scripts or business rules (e.g., via JavaScript, Python).
Integration & Interoperability
System's ability to interact and synchronize with other platforms, data sources, and tools used by financial advisors and operations teams.
- Batch Import/Export
- Bulk import/export of data to diverse formats.
- CRM Integration
- Natively connects or easily integrates with common CRM platforms.
- Calendar & Email Integration
- Syncs with calendars and email clients (e.g. Outlook, Gmail).
- Core Banking/Portfolio Integration
- Integrates with core banking or financial data sources.
- Custom Integration Tools
- Toolkits or modules for building unique integrations.
- Data Synchronization Frequency
- How frequently the system can synchronize with other data sources.
- Document Management Integration
- Connect to third-party document management systems (DMS).
- Open API
- Supports robust APIs for data ingress and egress.
- Pre-built Integration Connectors
- Number of out-of-the-box integrations supported.
- Webhooks Support
- Provides webhook endpoints for real-time updates.
Scalability & Performance
Attributes determining whether the system can handle growing workloads and large teams, while maintaining quick performance.
- Auto-Scaling Capabilities
- Automatically adjusts resources based on demand.
- Cloud-Native Architecture
- Supports elastic scaling and high availability.
- Concurrent User Support
- Number of simultaneous users the system can support without degradation.
- Data Storage Capacity
- Maximum volume of data the system can store and manage.
- Disaster Recovery RTO
- Recovery time objective; how quickly the system can recover from failure.
- Geographical Redundancy
- Ability to run across multiple data centers/regions for resilience.
- Load Balancing
- Distributes user and task load for consistent performance.
- Performance Monitoring Tools
- Built-in tools for monitoring resource utilization and performance.
- Transaction Throughput
- Maximum number of transactions processed per second.
- Uptime SLA
- Guaranteed system uptime percentage, as per service level agreement.
Support & Ecosystem
Coverage for vendor support, educational resources, and external solution ecosystem.
- 24/7 Support Availability
- Round-the-clock helpdesk or technical support.
- Community Forums
- Access to peer support and product community spaces.
- Developer Documentation
- Comprehensive technical documentation for extensibility.
- In-app Knowledge Base
- Library of articles, guides, and FAQs accessible within the platform.
- Marketplace of Extensions
- Central hub for certified integrations, plugins, and add-ons.
- On-site Support Time
- Availability of on-site support, measured in hours per year.
- Onboarding Training Services
- Formal training and onboarding support for new clients.
- Professional Services Network
- Availability of consulting, integration, and customization partners.
- Release Notes & Communication
- Regular communication on updates, bug fixes, and features.
- User Feedback Mechanism
- Easy way for users to submit feedback or feature requests.
Task & Case Management
Capabilities for tracking, assigning, prioritizing, and resolving tasks and client cases efficiently.
- Automated Case Assignment
- Automatically route tasks/cases to the right personnel.
- Bulk Task Updates
- Permits updating the status of multiple tasks simultaneously.
- Case Queues
- Support for creating service, specialist, and escalation queues.
- Case Tracking
- Full lifecycle management for client requests and service cases.
- Concurrent Task Capacity
- Max number of tasks and cases system can manage in parallel.
- Customizable Case Fields
- Allow firms to define fields specific to their processes.
- Linked Cases or Subtasks
- Relate cases to projects, parent tasks, or dependencies.
- Priority Levels
- Supports configurable priority status per task or case.
- Progress Tracking
- Track status and completion % for all cases/tasks.
- SLA Management
- Ensures service level agreements can be set, tracked, and reported.
Usability & User Experience
Attributes that make the system intuitive and efficient for front, middle, and back-office users.
- Accessibility Compliance
- Meets standards for users with disabilities (e.g., WCAG 2.1).
- Bulk Editing Tools
- Make changes to multiple items simultaneously.
- Contextual Help & Tooltips
- Inline documentation and help for features.
- Global Search Functionality
- Quick search across workflows, clients, cases, and documents.
- Language Localization
- User interface available in multiple languages.
- Mobile Access
- Native or mobile-optimized app for on-the-go workflow management.
- Modern User Interface
- Responsive, clean, and easy-to-use web interface.
- Onboarding & Guided Tours
- Step-by-step guides for training new users.
- Personalized Dashboards
- Users can tailor dashboards to their preferences.
- User Interface Response Time
- Speed with which the user interface responds to actions.
User Management & Access Control
Features related to managing user accounts, roles, permissions, and authentication to maintain data security and support productivity.
- Audit Trails
- Records all changes and access for compliance and review.
- Automated Provisioning/De-provisioning
- Automates user onboarding and offboarding.
- Bulk User Management
- Allows for simultaneous creation, update, or deactivation of multiple users.
- Delegation & Proxy Access
- Supports temporary or delegated access by designated users.
- External User and Client Portal
- Provides secure, dedicated access for clients to view or update information.
- Multi-factor Authentication
- Requires multiple methods of identity verification for system access.
- Permission Granularity
- Degree of specificity for setting permissions at object or field-level.
- Role-Based Access Control
- Ability to assign role-appropriate access and permissions across the system.
- Single Sign-On (SSO) Integration
- Supports centralized authentication and access through an SSO platform.
- User Activity Logging
- Tracks and records user actions and changes within the system.
Workflow Automation & Customization
Capabilities that allow firms to define, automate, monitor, and optimize processes tailored to their advisory and operational needs.
- Conditional Logic Support
- Workflows adapt based on conditions or data fields.
- Configurable Templates
- Predefined templates for common processes, customizable by users.
- Custom Task and Approval Routing
- Specify rules for routing tasks based on user, team, or process type.
- Dynamic Workflow Builder
- Drag-and-drop or configuration-based tool for creating and editing workflows.
- Integration with External Triggers
- Can start workflows triggered by external events via APIs.
- Parallel and Sequential Workflows
- Supports both concurrent and stepwise processes.
- Pause and Resume Workflow
- Ability to stop and later resume a workflow instance.
- Reminders and Escalation Triggers
- Automatic reminders and escalation on overdue items.
- Task Assignment Automation
- Tasks are assigned automatically according to rules.
- Workflow Execution Capacity
- Number of workflow instances the system can handle in parallel.
- Workflow Versioning
- Allows management of multiple versions of a workflow.