Tyson’s, VA – Appian (NASDAQ: APPN) today announced that independent analyst firm Aite Group has named Appian a “Best-in-Class” vendor for financial services client life cycle management (CLM) solutions. The ranking comes in Aite’s “Client Life Cycle Management Vendor Review: All Aboard in Capital Markets?” report.

Aite Group, a global financial services industry and technology research and advisory firm, estimates spending on CLM solutions will increase from US$438.9 million in 2018 to US$720.5 million in 2022. The report uses Aite’s proprietary vendor assessment framework, the Aite Impact Matrix, to evaluate vendors’ overall competitive positions with a focus on vendor stability, client strength, product features, and client services. To qualify, vendors must provide client life cycle management, client data management, or Know Your Customer (KYC) solutions to the capital markets community, including investment banks, broker-dealers, asset managers, and custodians.

According to the report, “Appian has been supporting business processes in the financial services realm and beyond for two decades and has a broad geographic footprint. Though financial services aren’t the sole focus of its attention, the vendor has deep enough pockets to keep pace with the next generation of technology requirements that are being included in capital markets firms’ digital transformation strategies. The low-code, rapid deployment, and easy-to-tweak nature of the Appian platform has leant itself well to the requirements of technology-savvy capital markets firms.”

Appian recently announced Institutional Onboarding, the latest in its financial services solutions. The solution leverages the development speed and powerful business process management and case management capabilities of Appian’s low-code platform. Using pre-built data records, artificial intelligence-based document understanding, and packaged integrations, the solution accelerates and simplifies flawless institutional customer onboarding experiences.

“The growing need for new solutions across the customer journey is due to the growing complexity of the forces shaping capital markets,” said  Michael Heffner, Global Industry Lead at Appian. “Increasing data privacy and other regulatory requirements, thin margins for market players, and the push for digital transformation all necessitate solutions that are more powerful and more secure, yet faster to deploy and easier to change. That’s what Appian offers through our Institutional Onboarding and other solutions.”