The customer on boarding implementation, though automated, is a step of procedures and prerequisites that have to be followed to reap the best benefits out of the solutions.The Client OnBoarding Framework basically refers to the reusable framework within an enterprise, that can deal with account opening, KYC (Know Your Customer), onboarding formalities, document management and many more all in a digitised format, paperless solutions.
The programme offers to provide high-quality user experiences, enhance product selection and cross-sell capabilities across all channels to help customers identify products that are right for them. To minimize application processing times and streamline the information collection process. To reduce reliance on paper and increase business agility.
Client experiences and benefits:
Customers expect a flawless experience, enhanced efficiency and sharp responsiveness while interacting with a bank. Customer on-boarding, other than getting a new customer, also means gathering relevant information to learn about the customer and their concerns and interests. The first step towards improving customer experience is a fully digital on-boarding experience. Digital customer on-boarding has proven to reduce operating costs while also enabling institutions to be more responsive to customer needs.