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Financial services are diverse, and so are the templates that can be used for them. Templates help financial services providers to do their work in a structured, efficient and reliable way. Templates are always useful when tasks and projects consist of several parts, have complex content or are particularly important. They are used in credit consulting as well as in securities trading.
The constant repetition in a form or checklist brings routine to work without allowing for negligence. Everything is fixed in writing and can be done through point by point. Templates thus provide an overview and security for the task at hand.
The use of checklists can also be useful for tasks that occur rarely. In this case, they serve as a reminder. Who knows all points of the annual audit? What tasks should he take over from his colleague in his absence, and what has to be considered?
Financial service providers can use templates in customer service or for internal tasks and projects. Although their area of application and content may vary, the advantages of templates in checklist format are always the same:
By the way, the templates do not have to be limited to financial services. Checklists are also helpful for financial service providers when it comes to human resources and occupational safety. A good example is a checklist for setting up a new workplace. This is used by those responsible for going through the various work steps to ensure that nothing is forgotten and that everything works perfectly.
Often employees do not have to create templates from scratch. Larger companies usually have templates for different tasks, among other things, to ensure uniform quality and branding. Also, many ready-made templates are available for download on the World Wide Web, such as the Lumiform template library.
But it is not always possible to find a suitable template for financial services. Then it must be created from scratch. If the following points are observed, it is easy:
1. Narrow down the topic
Before the template is created, all points that belong to the topic should be noted. It is best to discuss the content additionally with colleagues or superiors to get further input.
2. Keep it simple
A template must query several data, but it should still be kept simple. Questions and information should be formulated in a way that is easy to understand and limited to important data.
3. Create order
It is useful to sort the tasks or questions chronologically. Sections can be used to categorize related questions and information additionally.
4. Select suitable questions and answers
It is essential to think about the type of question and answer before creating the template. For example, multiple-choice answers are better than empty answer boxes, making it easier for most people to answer given answers.
5. Perform a test run
The new template can be tested best in practical work. It will probably not be perfect on the first run — a good chance to revise the checklist again.
Templates are not a panacea; they do not replace the financial advisors' know-how and conceptual ideas. But they relieve and support the daily work routine. Mostly young professionals benefit from templates for the many different and new tasks. But even financial experts do not forego the use of templates for financial services at work.
There are many financial accounting tasks where a lot of information has to be requested, or audits have to be performed. Here it is always an advantage to have a template to work in a structured way and not forget anything important.
It happens from time to time that something changes. Therefore, a template does not have to be created from scratch. With digital applications, changes can be implemented immediately, and updates can be accessed.
When dealing with customers, templates are irreplaceable for financial service providers. No matter which financial service is required, templates can be used to request and evaluate important data about the customer and their circumstances and wishes.