By: Tony Van Niekerk, COVER
A Conversation with FSPHub
The financial services industry is constantly evolving, and in today’s digital age, financial service providers (FSPs) must adapt to remain competitive.
Recently, I had the opportunity to sit down with Michelle Swart, Operations Manager at FSPHub, and Craig Grasko, Business Development Director at FSPHub, to discuss the role of digitisation in the FSP space and how FSPHub is helping businesses streamline their operations.
What digitisation means for an FSP – To kick off the discussion, I asked Craig to define what digitisation means in the context of an FSP. He explained that while most FSPs already use technology in some form—whether through emails, WhatsApp, or marketing automation—true digitisation goes beyond these tools.
Craig emphasised that digital transformation involves consolidating all essential business data into one centralised location. This includes client information, emails, WhatsApp communications, documents, and workflow tasks. Having everything in one place allows an FSP to manage its operations more efficiently without the chaos of chasing emails or following up on outstanding tasks manually.
“Email is digital, but it can also be a source of frustration,” Craig noted. “You never really know if someone has acted on an email, what the status of a task is, or if something has been completed.” By digitising operations, FSPs can automate workflows, reduce human error, and gain full visibility into their business processes.
The Benefits of digitisation for FSPs – Michelle weighed in on the benefits of digital transformation, particularly how it improves productivity and efficiency. With a system like FSPHub, all client-related data is easily accessible in one place, eliminating the need to track down information across multiple platforms.
“Everything you need regarding your client is in one place,” Michelle explained. “You don’t need to follow up with several people to check where a process is. You simply go into the client file, and all the information is there.”
Another major advantage is remote accessibility. Since FSPHub is cloud-based, users can access their data from anywhere with an internet connection, without needing specific software installed on their devices. This flexibility is particularly beneficial in today’s hybrid work environment, where professionals often work from various locations.
The Origins and purpose of FSPHub –I was curious to know how FSPHub started and what problem it set out to solve. Craig explained that the platform was created to address the complex operational needs of FSPs. Financial service providers often deal with multiple insurers, product lines, and administrative processes, and managing all these moving parts efficiently is a significant challenge.
FSPHub was designed as a back-office workflow and automation system that integrates various business functions, including:
- Workflow and task management
- CRM (Client Relationship Management)
- Email and document management
- Automated reporting and analytics
The platform is not meant to replace policy administration systems but rather to integrate with them, ensuring that all data flows seamlessly between different systems. “The word ‘Hub’ really speaks to what we do,” Craig explained. “We integrate information into one place so that you can see everything with the click of a button.”
A Purpose-built CRM for FSPs – At this point in the conversation, I asked Craig if FSPHub could be compared to a traditional CRM (Customer Relationship Management) system. He responded by clarifying that while FSPHub shares similarities with a CRM, it is specifically built for FSPs.
“You could get a standard CRM like Salesforce, but then you’d have to customise it heavily to fit an FSP’s needs,” Craig explained. “FSPHub, on the other hand, was built by FSPs, for FSPs. You don’t have to explain what a policy is, what an endorsement is, or how claims workflows should function—it’s already designed for that.”
One of the key strengths of the system is its flexibility. Users can customise workflows and adjust processes based on their unique business needs. Craig highlighted that this adaptability allows FSPs to standardise operations while still maintaining the ability to tailor the system to their specific requirements.
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Key features that drive efficiency – Michelle provided insights into the features that have made the biggest impact for FSPs using the system. She pointed out that workflow automation and integrated communication are among the most valuable aspects.
Some of the standout features include:
- Customisable workflows that align with business processes
- Email and SMS integration, with WhatsApp functionality coming soon
- Electronic document signing for secure transactions
- Group communication tools for targeted client messaging
- Advanced reporting and analytics for tracking team performance and workload distribution
“The ability to generate reports on task completion, email communication, and workload distribution has been a game-changer for management teams,” Michelle added.
Seamless integration with administration systems – A major concern for FSPs is ensuring that their digital tools work in harmony with existing administration platforms. I asked Craig how FSPHub manages these integrations.
He explained that while integrating different systems can be challenging, FSPHub offers multiple integration methods, including:
- SFTP data transfers for secure monthly updates
- API integrations (currently in development) for real-time data syncing
Craig emphasised that FSPHub is not a competitor to administration platforms but rather a complementary tool that enhances their functionality. “We want to integrate as seamlessly as possible to provide brokers with a powerful, unified solution,” he said.
Onboarding and adoption: A Smooth transition – One common challenge with new software is getting teams to adopt and use it effectively. However, Michelle assured me that FSPHub is designed to be user-friendly and intuitive.
The onboarding process includes:
- System setup – Customising workflows, importing client data, and integrating mailboxes
- Orientation training – Teaching users the basics
- Hands-on training – Allowing users to experiment and receive further guidance
- Ongoing support – A dedicated support team is available via phone, email, or even Skype
“The system is so easy to use that we haven’t faced any major adoption challenges,” Michelle noted. “If a client provides all the necessary data, we can have them fully operational within a week—sometimes even within a day.”
The Future of digital FSPs – As we wrapped up the discussion, we touched on the future of digitisation in the FSP space. Craig and Michelle expressed excitement about further automation, enhanced integrations, and expanding communication capabilities within FSPHub.
From my perspective, the most exciting aspect is the improvement in client communication. Many FSPs struggle with maintaining consistent, clear communication with their clients, and FSPHub is taking significant steps to address this gap.
I look forward to future discussions where we can explore real-world case studies of how FSPHub has transformed businesses. As digital transformation continues to shape the industry, solutions like FSPHub will play a crucial role in helping FSPs operate more efficiently and serve their clients better.
The financial services landscape is changing, and digitalisation is no longer an option—it’s a necessity. FSPHub is at the forefront of this transformation, providing FSPs with a centralised, integrated, and highly efficient platform.
With its customisable workflows, seamless integrations, and user-friendly design, it’s clear that FSPHub is not just another CRM—it’s a purpose-built solution designed to help FSPs streamline operations, improve efficiency, and enhance client relationships.
Stay tuned for more insights as we continue exploring the evolving digital world of FSPs!