Xchange Contracting, Licensing and Registration

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The only unified solution to power the full lifecycle of agent and advisor onboarding and credentialing, delivering a frictionless user experience that minimizes the compliance burden on your distribution partners. Xchange uniquely provides a single, unified solution that is powered by an extensive compliance rules engine. The solution enables firms to seamlessly execute the complex processing requirements associated with managing and tracking onboarding, licensing, registration and compliance and product education credentials.

Key Features

Platform Capabilities:

  • Auto-Populated Producer Data: Automatic data population from primary sources – including NIPR, BI providers and internal CRM and third party systems - to reduce data entry.
  • Business Process Automation: Auto-trigger appointment transactions and background investigations based on business rules, eliminating the need for staff intervention.
  • “Clear to Sell” Validation: Real-time credentials validation and data synchronization with the NIPR ensure that producers are properly credentialed at the time of business placement.
  • Workflow & Hierarchy Management: Auto-route electronic contracting packets through the approval process, ensuring that required sign-offs occur and exceptions are queued for review.
  • Status Notifications & Dashboards: Status alerts are sent to designated recipients as contracting progresses. Provide unified views of contracting approval status and exceptions.
  • Enterprise Reporting: Generate templated and ad-hoc reports, across the producer population, at any level of the company’s hierarchy.
  • Dynamically Generated Contracts: Contract appendices are dynamically generated and prepopulated based on producer selections, including LoB and product selections.
  • Self-Service Tools: Self-service capabilities include guided interview questions, simple forms maintenance, real-time appendix creation and easy access to hierarchy views.

Enterprise Modules:

  • Agency Contracting: Xchange Contracting integrates comprehensive capabilities that enable insurance companies to dramatically reduce the time to contract and appoint new producers.
  • Alerts 2.0: Alerts 2.0 enables companies to identify individuals and agencies for which they should receive notifications and automated PDB data updates.
  • CE Central: RegEd’s CE Central solution simplifies the management of producer compliance with state CE requirements.
  • FINRA Registration Profiles: Enables firms to manage FINRA-related registration information for each registered representative to ensure regulatory requirements are met.
  • Managed Services: RegEd’s Licensing and Registration Managed Services team can prepare the required filings and transactions, order supporting documents, validate producer data against current regulatory sources, and maintain evidence of filing.
  • Permissive Registrations: RegEd’s Xchange and Compliance Questionnaires solutions provide a comprehensive, WORM-compliant system for managing permissive registrations using a highly configurable workflow and approval process.
  • RegEd CLEARXchange: RegEd CLEARXchange instantaneously validates contracting, licensing, education and training, appointment, and registration, at the source, to deliver a real-time Clear to SellSM.
  • Registered Rep Onboarding: RegEd Registered Rep Onboarding solution offers the unique ability to drive unparalleled operational efficiency and optimize all processes throughout the onboarding and registration process.
  • State Requirements: The industry’s most complete and current producer licensing resource, provides instant access to current state summaries of licensure, appointment and termination statutes, regulations and administrative requirements.
  • Xchange Enterprise Overview: Xchange, developed in collaboration with top industry firms, has been implemented in more than 150 financial services firms across the nation. Xchange is unique in its ability to drive unparalleled operational efficiency and optimize all processes across producer / rep on-boarding, registration and licensing activities.

Key Benefits

  • New Levels of Operational Efficiency: Xchange’s advanced capabilities drive efficiency across the onboarding and credentialing lifecycle. Business process automation auto-triggers transactions based on time-based requirements, events and business rules. Automated data reconciliation with NIPR and FINRA significantly reduces manual data entry.
  • Streamlined User Experience: Producers and home office staff benefit from a seamless UX and single, unified platform. User dashboards simplify and prioritize fulfillment of obligations driving producer satisfaction.
  • Earn the Loyalty of Top Producers: Automation across the onboarding and credentialing process provides a frictionless user experience and speed to market that earn the loyalty of top producers to achieve sales and revenue goals.
  • Lower Overall Cost of Ownership: Business process automation, straightthrough processing and a streamlined onboarding process enable efficient allocation of licensing staff, as well as savings in unnecessary PDB fees and non-productive appointments.
  • Drive Faster Time to Market: Data integration and business process automation capabilities drive speed to market and minimize the time producers spend on compliance-related tasks.
  • Scalability to Meet New Demands: Xchange technology easily scales to support aggressive growth that comes with the acquisition of new agencies and M&A -- business rules can be easily added, hierarchy extended and workflows reconfigured.
  • Embed Compliance and Reduce Risk: Xchange’s sophisticated compliance rules engine, maintained by RegEd’s experienced and tenured Regulatory Affairs division, ensures compliant transactions, while integration with order entry, compensation and training systems enables automated “clear to sell” and compliant business placement.

Product/Service details