Stonehage Fleming, a leading global wealth management and fiduciary services provider, has been awarded the 2024 Digital Wealth Management Impact Award for Technology Transformation by Datos Insights. The award recognises the company’s successful use of Laserfiches content management and business process automation tools to overhaul its operations and boost efficiency.
The London-based firm, which manages clients across 19 international offices, faced a series of operational challenges, including outdated legacy systems, increasing regulatory demands, and the need to adapt to rapidly changing client expectations. To address these challenges, Stonehage Fleming embarked on a comprehensive digital transformation initiative, with Laserfiche’s technology at the heart of the process.
Laserfiche, a leading provider of intelligent content management and business process automation software, played a crucial role in helping the firm streamline its back-office functions. Stonehage Fleming used Laserfiche as a process orchestration engine to automate key tasks within its Business Development department. This included optimising the client onboarding process, improving the consistency and efficiency of workflows, and enhancing collaboration across teams.
A key feature of the transformation was the integration of Laserfiche’s suite of automation tools with Stonehage Fleming’s existing technology platforms. By automating processes and improving interoperability, the firm was able to free up significant staff time, allowing them to focus on providing enhanced client service. Laserfiche’s advanced information governance and security features also ensured that the company could meet stringent regulatory requirements, safeguarding sensitive client data.
According to Stonehage Fleming’s IT team, the digital transformation programme has resulted in estimated savings of over $150,000 and tens of thousands of staff hours. The firm highlighted that these improvements have led to faster service delivery, enabling employees to respond more swiftly to client needs while reducing operational risk.
Joman Kwong, strategic solutions manager for financial services at Laserfiche, praised Stonehage Fleming’s innovative use of the company’s technology. “Wealth management firms need strategic IT planning and technology partners that optimise back-office functions while supporting compliance. Stonehage Fleming’s adoption of Laserfiche’s solutions is a prime example of how digital transformation can enhance both employee and customer experiences,” Kwong said.
Stonehage Fleming’s achievements with the Laserfiche platform were key to winning the prestigious award, which recognises firms that are driving meaningful change in the wealth management sector through technology. Gert Bester, IT business systems manager at Stonehage Fleming, expressed his pride in receiving the accolade.
“We are honoured to be recognised with the Datos Insights 2024 Digital Wealth Management Impact Award for Technology Transformation,” Bester said. “Our partnership with Laserfiche, alongside our solution provider Datafabricx, has been instrumental in transforming our operations. By streamlining workflows, mitigating risk, and delivering faster client service, we have been able to continue meeting the evolving needs of our clients.”
The award highlights Stonehage Fleming’s commitment to innovation within the wealth management industry, demonstrating how cutting-edge technology can be harnessed to improve both operational efficiency and client outcomes.
