16 Jan Ultra-secure client engagement solution for legal & financial providers hits the Australian market

With digital privacy breaches now commonplace for companies that have not adequately protected their client’s data, it is more important than ever for advice firms to embrace client portal technologies that not only foster security and privacy but also offer unique features to make the lives of their clients better. 

According to the Netwealth 2022 AdviceTech survey, 33.3% of advisory firms have a high intention of adopting secure client portal technologies. However, the reality is that 69.6% of our legal and financial service providers are not securely exchanging information and messages with their clients, which is putting us all at risk. 

Firms that fail to deliver on this critical innovation will fall short of their client’s expectations, where trust and engagement are everything. Furthermore, the financial, legal and reputational exposure that advisory firms could face if they don’t take action now could be disastrous with cyber hacks, ransom payments and loss of customer trust. Steve Morgan, founder and Editor-in-Chief of US-based Cybersecurity Ventures, estimates that the cost to the global economy from cybercrime will be US10.5 trillion by 2025. 

Australian innovation company, My Life Capsule recently launched its privacy-first client engagement solution, which provides ultra-secure data & file sharing for more efficient business and more organised, better prepared & better-protected clients.

The ultra-secure data and file-sharing solution helps individuals and families organise, protect and share personal information; and helps legal and financial service providers to engage with clients efficiently and securely, to mitigate corporate security risks and enhance client relationships.

Advisor Innovation recently reported that Australian advice practices lack ‘deliberate’ tech stacks. In the article, Morningstar’s head of business and strategy, Peter Bryant, states, “Delivering sensitive information by email poses risks of miskeying the email address or the information being intercepted. Delivering information via a client portal instead can offer enhanced security and would be an example of a well-chosen, intentional tech decision.” 

According to My Life Capsule CEO Pam Moorhouse, “Consumers now expect their service providers to protect their data, but that’s not enough for client relationships to thrive. Providing a solution that offers security, privacy and personal data control to organise, protect & share one’s personal information is the future of client engagement”. 

In a study of 100,000 customers over two years, Motista (a pioneer in developing Predictive Emotional Intelligence solutions) found that emotionally connected customers have a 306% higher lifetime value. Such connection and trust are more relevant for personal legal and financial advisory firms, than other service-based businesses due to the nature of the life events they assist their clients with, such as purchasing property and wealth management to personal disputes, divorce and end-of-life planning. 

Founded by Australian Entrepreneurs Pam Moorhouse and Ryan Henderson, My Life Capsule’s client capsules are already helping individuals and families in more than 40 countries. With state-of-the-art International award-winning digital security vaults, GDPR compliance, and world-class customised sharing and consent protocols, My Life Capsule empowers privacy-first client engagement to make businesses more efficient and their clients better prepared.

The ultra-secure client engagement solution for legal & financial providers 

My Life Capsule’s client engagement solution addresses two problems:

Firstly, most people can’t find critical personal documents, information or passwords when they need them most. The impact of this problem for individuals and families is unbearable administrative & emotional stress during significant life events, such as;

• Divorce
• Death of a loved one 
• Personal Illness or accident
• Buying a property.

Secondly, most legal & financial service providers don’t exchange personal information and messages with clients efficiently or securely, and they fear a client data breach. The impact of this problem is:

• Increased cyber security risk for inbound & outbound personal client data
• Long onboarding cycles for client file & data retrieval
• High administration costs 
• Limited client trust, engagement, reach & retention.

The solution to both these problems is My Life Capsule’s ultra-secure data and file-sharing solution – comprising the Partner Portal and the Client Capsule:

The PARTNER PORTAL helps legal and financial services firms to reduce client admin, enhance operational security and improve client engagement, offering:

• Faster client onboarding
• Less client admin
• More secure operations
• Greater client engagement.

So much more than just a client portal, My Life Capsule’s CLIENT CAPSULE helps individuals and families manage day-to-day and time-critical administration to be more organised, better prepared and protected, offering: 

• 24/7 access to personal information (life admin)
• Categorised vaults include legal, financial, medical, identity, passwords, children and more to make organising and access to critical information fast and easy
• Secure data sharing between individuals, families and service providers
• Emotional and administrative support for significant life events
• Enhanced trust in and loyalty in service providers. 

Learn more about the ultra-secure client engagement solution for legal & financial providers at https://mylifecapsule.com/enterprise/

For a product demonstration or enquiry, please email info@mylifecapsule.com