By switching its retail wealth platform to FactSet Investment Dashboard, OP was able to provide a more modern interface and better overall experience to its retail customers.

Firm Type

Regional Co-operative Retail Bank

The Challenge

Upgrade technology to improve the customer experience and increase the number of customers trading via their platform

FactSet Solution

FactSet Investment Dashboard

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The Challenge

OP Financial Group is one of the largest financial companies in Finland, offering retail and commercial banking services all over Finland as well as insurance services. OP is a co-operative bank, owned by its customers. According to Kristian Wikman, Senior Business Development Manager at OP, this means that satisfying its owners/customers requires focusing on more than just profits.

OP’s retail clients range from new investors to heavy traders, and OP provides multiple platforms to meet their needs. Unfortunately, because the platform used by its active traders and premium customers was based on outdated technology, OP was getting very low marks for customer satisfaction. OP knew they had to make a change, so after extensive research of possible solutions available in the market, OP decided to implement FactSet Investment Dashboard for its retail and wealth customers.

The Solution

In close cooperation with OP and NFS, FactSet’s local Finnish integration partner, FactSet configured Investment Dashboard to meet OP’s needs and enhanced the standard product capabilities. OP took advantage of the available customization options, including styling and branding for the customer interface, the ability to share watchlists between the client portal and Investment Dashboard, and trading integration with OP’s online banking portal.

OP found Investment Dashboard to be especially well suited for supporting its desktop and tablet solutions. Clients appreciate the customization options the new platform allows. While OP has created screens within the application that clients can use as a starting point for their analysis, clients can create and maintain their own dashboards within the application.

One of the key features of Investment Dashboard that was well-received by clients was the ability to broadcast identifiers between screens. This feature allows users to move seamlessly between reports within the application without having to re-enter tickers each time. This was a huge efficiency gain for users, creating a smooth and uninterrupted workflow.

Customers have provided extremely encouraging feedback on the look and feel of the updated OP application with Investment Dashboard. Mr. Wikman attests that the response to the new interface has been overwhelmingly positive, saying, “from day one we have had customers complimenting the product, saying that it is fresh and they like the product’s features.”

For OP, one of the key benefits of choosing Investment Dashboard for its retail client solution was the support they received from the FactSet and NFS teams during the entire implementation process. According to OP, the support they received far exceeded their expectations, especially in the final testing phase. The OP team also greatly appreciated FactSet’s ability to reprioritize and to deliver a required feature ahead of time.

The Outcome

For OP, FactSet’s software as a service (SaaS) model for providing Investment Dashboard was a perfect fit. It has proven to be a cost-effective and resource-reducing solution that has served OP’s customers well.

OP continues to analyze its customers’ behavior and interactions with Investment Dashboard. In fact, OP is currently in the process of upgrading its technical infrastructure; once this is complete, the company expects usage of Investment Dashboard to at least double. The firm is also in the process of developing a marketing campaign to reach even more customers (potentially attracting up to 50,000 new users).

With more and more customers, especially younger ones, moving to mobile (with double-digit growth in recent years), OP is counting on FactSet Investment Dashboard to provide the effortless digital experience that its customers are demanding. According to Joona Heinola, Specialist at OP Markets, “we plan to continue expanding the Dashboard’s [trading and mobile] integration to provide our customers an even better experience.”

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