To accelerate the client-centric transformation, Hywin is engaging with an expert team from IBM. Using the IBM Garage™ Methodology, Hywin rapidly iterated its analytics capabilities throughout the project, complementing the requirements of business users.

“We chose IBM because they share our agile development philosophy,” recalls Hua Zhu. “Through frequent iteration, our aim was to keep the new digital capabilities tightly aligned with Hywin’s business requirements. By closely communicating with the business from the time requirements are raised to the time they are implemented, we can ensure that the analytics products we are developing will deliver a great client experience.”

To fully integrate customer data and analyze customer preferences, Hywin selected IBM Cloud Pak® for Data—a data and AI platform that empowers organizations to collect, organize and analyze data, wherever it resides.

“During our evaluation of IBM Cloud Pak for Data, one of the capabilities that impressed us most is how we can use a single data and AI platform to drive rapid analytics,” explains Hua Zhu. “We also greatly appreciate how flexible the IBM solution is. IBM Cloud Pak for Data can be adapted to work with our data systems and development tools. Our analytics journey is just beginning, and IBM Cloud Pak for Data gives us the freedom to adapt dynamically as our data systems and tools evolve.”

Through its collaboration with IBM, Hywin has expanded its analytics capabilities dramatically. In just one year, Hywin has captured and cataloged more data than it has accumulated over the previous 10 years, which will provide the foundation for a diverse range of new services in the future.

Through its partnership with IBM, Hywin has built a mature data strategy, underpinned by effective analytics processes and data governance controls. The new approach allows the company to surface analytics insights up to 40% faster, driving its client-centric transformation.

“IBM Cloud Pak for Data is already helping our teams work more effectively,” states Hua Zhu. “Now we consolidate all client information onto a single dashboard. Through 360-degree analysis, our financial planners can offer tailored allocation services—a key capability to attract millennial prospects.”

Today, Hywin harnesses the IBM analytics platform to acquire, retain and develop HNWIs—helping to grow its market share.

“Analyzing existing clients who have similar characteristics to our prospects is a powerful way to understand what guides their decisions,” explains Hua Zhu. “By better understanding prospect personas, our financial planners can determine the best way to provide personalized investment services.”

To retain clients for the long term, Hywin has created a detailed model of the client lifecycle. This model allows the organization to identify client behaviors that could indicate an increased risk of churn, such as reduced engagement with the company’s client portal or declining asset allocations.

Looking ahead, Hywin is exploring more opportunities to leverage its data to drive business growth.

“We also see great potential to use IBM analytics solutions in our investment department,” concludes Hua Zhu. “The aim is to select the next-best product for each client based on their persona, preferences, and current product set. We are confident that data-driven investment planning can significantly increase conversion and boost lifetime value.”

Hywin Holding Co., Ltd. (link resides outside of ibm.com) offers a wide range of tailored financial services, including wealth management, insurance brokerage, and structured financing. Employing close to 3,000 people, the group operates in China, the United States of America, and the United Kingdom.