A Not In Good Order (NIGO) error occurs when a submitted form is incomplete, inaccurate, outdated or missing required signatures or disclosures. NIGO submissions delay account opening and harm the client experience. They also create rework for advisors and operations teams.
Digital workflows reduce NIGO rates risk by validating data and enforcing required fields before submission.
Docupace Value: How We Eliminate NIGO Errors
Docupace prevents NIGO issues by applying custodian-specific logic, conducting real-time validations when data gets entered and ensuring every form is complete and compliant before submission.
With Docupace, firms can:
- Use smart, rules-based forms: Select the correct, custodian-approved documents for every account type
- Pre-fill client information automatically: Reduce the chances of incorrect or missing data
- Run real-time compliance and validation checks: Catch missing fields, outdated disclosures and signature issues before submission
- Synchronize information bi-directionally: Ensure data is current across CRMs, custodians and internal systems
- Enable straight-through processing: Reduce manual handoffs that introduce errors and delays
- Enforce required fields and signature logic: Prevent incomplete submissions that trigger NIGO outcomes
- Reduce operational rework: Minimize the back-and-forth between advises and operations teams caused by preventable errors
To learn more about how Docupace helps firms dramatically reduce NIGO rates, visit www.docupace.com.
FAQs About Paperless Onboarding
What does NIGO mean in financial services?
NIGO stands for Not In Good Order and refers to errors caused by a form or submission that is incomplete, inaccurate or non-compliant.
What causes NIGO issues?
NIGO issues are most commonly caused by missing signatures, outdated forms, incorrect information and incomplete disclosures.
How does automation reduce NIGOs?
Automation helps reduce NIGOs by applying real-time validations, custodian rules and required-field logic to catch issues before submission.
Why is preventing NIGO submissions important?
Preventing NIGO submissions is important because doing so reduces delays, improves accuracy and significantly enhances the client experience.
