Adviser users of the Unipass Mailock encrypted email system report the benefits as including not just security of communications with clients, but also business benefits such as protecting against human error, improved client experiences and the speeding up of the client onboarding process.
Research among advisers using the system, highlighted that among the most valued benefits of encrypted communications between advisers and clients were security when issuing investment valuations (79%) and exchanging new policy proposal documents (77%).
Also the speeding up of the onboarding process, enabling clients to return documents such as proof of their identity, bank details and signed terms of business agreements quickly, securely, and free of charge, to their advisers.
Two-thirds of advisers surveyed stated that they have the greatest use for secure email in ongoing client servicing. Specifically sending client review information securely.
Outside of security issues, the motivation for advisers in adopting secure email was primarily communication efficiencies, while in terms of experience, 42% of advisers also cited cost reductions as a benefit, followed by improved operational efficiency (37%).
In addition, 65% of advisers said they were using secure email alongside a client portal.
There was good feedback too from advisers’ clients about receiving secure emails through the service, with nearly 70% stating that they felt it was a positive or an extremely positive experience.
George Thompson, systems development manager for Portafina, highlighted that their organisation viewed the service as “providing significant efficiency savings and improvements for client servicing. He commented: “The ability to set up customers quickly and easily has transformed the onboarding process. The beauty of the service is that it is so easy to use and our customers just get it.”
Commenting on the research, Anthony Rafferty CEO of Origo says: “This user survey shows how advice firms are utilising encrypted email not just to secure communications but to improve their business efficiencies by speeding up the onboarding and servicing process for both advisers and clients, as just one example.
“Having a system that is encrypted, requires two-factor authentication, can revoke an email where human error may have occurred – the ‘oh no’ moment – and provides a compliant audit trail, can give advice firms, product providers and platforms greater security and peace of mind that they are taking appropriate steps to better secure their clients’ data and their businesses.
“These are significant results from companies who are using the service daily and the benefits will grow as companies increase their use of the system and more of the industry adopts Unipass Mailock for its secure email.
“We are now onboarding more providers and platforms so that they can benefit from using Unipass Mailock to communicate securely with advisers, who can use their Unipass Identity to securely access the system and easily read the emails and attachments.
“With Aegon and Royal London already using the system and others in the pipeline, we are starting to build a Unipass Mailock community that will transform email communications across financial services.”
