A global investment bank needed a document distribution platform that would satisfy regulatory requirements for document review while reducing the cost of printing and distribution for hundreds of pages of documentation.

The Challenge:

Reduce cost and complexity associated with the distribution of required documentation for investment in a new investment fund by providing prospective clients with an online document library that permits convenient review of information without the costs associated with printing and mailing of lengthy financial documents.

The SCI Solution:

SCI developed a Web-based service to securely register users for access to an online document library that allowed users to review documents associated with their potential investments while providing the client with comprehensive reporting on user activity to support regulatory requirements. The client supplies a daily data feed that is used to create a personalized welcome kit that is sent to the investor, and that guides the user through the process of registering for and using the online library tools. The registration process adheres to rigorous security guidelines (e.g. the username and password are delivered in two separate communications while validating the user’s e-mail address so the company can communicate with the investor in the future through e-mail.) The online library tracks all reader activity and provides the client with an online reporting that verifies that the investor has read the required documents before investing.

The Results:

• The system eliminated the need to produce expensive printed prospectus documents for the complex funds, savings the clients significant marketing costs for the program.
• User level reporting on what documents were read and when they were read satisfies all regulatory requirements for investment qualification.
• A document management system provides the client with complete facilities for managing the library.
• All upload and update activity is time-stamped for audit purposes.
• High-personalization e-mail services allow subscribers to be notified of content updates via e-mail providing ongoing cost savings.
• E-mail services incorporate financial advisor contact data, and can be sent on their behalf to ensure comprehensive sales integration.