Customers today have high expectations for a seamless experience, increased efficiency and a strong response when interacting with a bank. Digitalization of bank’s processes is the key for achieving these expectations.

The first step to improve the customer experience is a fully digital onboarding process. During this time, the digital customer has been shown to create reduced operating costs while allowing banks to be more flexible and responsive to customer needs. In today’s economic environment, it is vital for banks and other financial institutions to acquire new customers through the digital channel.

Why is onboarding necessary for the digital client?

Digital signatures have been used successfully by banks and other financial services providers to digitize lower value and high volume cases, such as retail account openings. They now turn into higher value transactions – which are usually mediated scenarios with more complex workflows. With on-boarding platforms to manage more sophisticated contracts and transactions, there is a shift towards the digitization of more complex on-board transactions.

The benefits of Inform’s Digital On Boarding Solution

  • Convenience: The customer is able to open a bank account or get a banking product anytime and from anywhere.
  • Speed: Compressing the on boarding process from days or weeks into a single session, without the need of visiting a branch (sometimes more than one time) and waiting for the approval of your request
  • Efficiency: One of the major benefits of digital boarding is efficiency. Due to system validation of data – data errors, internal handling effort and time are minimized.
  • Security: 100% compliant with e-IDAS, KYC and AML
  • Immediate Satisfaction: A customer wants immediate response, feedback and confirmation. Digital onboarding allows for shorter completion times. In addition, all procedures are followed and all validity is checked in the data entry section thus reducing time.
  • Customer-centricity: Keeping the customer in focus is the only viable way to grow a business. This entails not only data collection and unavoidable administrative hassle, but also an understanding of the needs of the outlook. A digitized workflow allows the process to be built around users and their preferences.
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