Omniscient: Painting the Broader Picture of Analytics

When Felipe Luna founded Omniscient five years ago, the technology landscape for financial services firms was too fragmented and inundated by legacy systems to keep up with the modern times. “Executives in financial organizations were under the illusion that their business processes were being automated because they were using numerous ‘technology’ solutions to manage their businesses. Instead, most of them found themselves bogged down because they were forced to constantly switch among multiple applications, to extract information and conduct business operations,” observes Luna, CEO, Omniscient. Consequently, organizations lacked the ability to attend to multiple clients simultaneously, directly impacting profitability. Omniscient rose to the operational challenges in a holistic manner.

“The Omniscient application operates on a few simple principles: to simplify technology for financial services firms while helping them reduce the use of multiple applications and data bases, thereby allowing business leaders to see all business data at one time and empowering them to use these data driven insights to improve the decision-making process,” explains Luna. With CRM as its core functionality, the platform performs a range of interrelated activities involving financial document integration along with managing customer interaction portals, service, and case management processes. The Omniscient database records all information received from banks and other financial institutions seamlessly, thereby accelerating data processing for its users.

According to Luna, the present CRM space is experiencing a shift toward higher order predictive analytics. Using advanced analytics, organizations are moving beyond legacy, web-based solutions to the ones that promise automated data integration. “We are approaching an era where organizations will be capable of optimizing the use of predictive analytics in automating client responses and workflow processing,” explains Luna.

40 percent of small financial services firms are unable to afford analytics and automation technology, states Luna, referring to recent studies. In an ambitious bid to empower these advisors to assist their clients better, Omniscient offers its core CRM system free of charge for firms with four or fewer users.