Improved customer experience thanks to intelligent digital customer onboarding

Current digital customer onboarding solutions are often inefficient in large part due to their unstructured and lengthy process, a multitude of checks, the sheer number of documents to process and integration with old systems.

By introducing a seamless, end-to-end process, banks can modernise the decades-old onboarding journey, improve the customer experience and, for example, significantly reduce onboarding time from days to minutes.

The ultimate goal is always to attract new customers thanks to a convenient and efficient onboarding process, as well as an appealing service offering. To achieve this, an entirely digital and intelligent onboarding process starts with efficient data capture – often using Optical Character Recognition / OCR technology, biometric identity verification with facial recognition, easy integration of background checks, smooth video identification (in case higher regulatory requirements need to be met, e.g. Qualified E-Signatures / QES), individually controlled compliance checks and the eventual approval via digital signature.
As “Celent” states in their blog “Digital Onboarding: No Longer a Question of When but How Soon”, the benefits for banks and financial institutions are hard to overlook.
Previously mentioned aspects are crucial for long-term customer satisfaction, which in turn has a direct impact on renewal rates and profit.

In addition, an intelligent customer onboarding solution can improve regulatory compliance, data quality and internal access to customer information.
“Banks say their relationship managers are happier because they can focus more on adding value to customers by gaining 10-15% extra capacity. The bank wins overall by reducing costs through automation and error reduction, with error rates dropping from 60% to 5% in some cases and processing time reduced to one-sixth of the time.”
Find the Celent blog here: https://www.celent.com/insights/330622403

If you have any further questions about digital customer onboarding, please just get in touch: Further information on fast and effective identity verification including automated background checks (e.g. KYC, address checks, credit queries) can be found at: https://rockondigital.ch/identon-online-kunden-identifikation/?lang=de