Businesses are consumers themselves, and they increasingly expect the user-friendly apps they use in their personal lives to translate into their professional lives. Fortunately, the gap between personal and business technology is closing. Here’s how the financial institutions leading the tech landscape are reshaping their digital onboarding experiences for business customers.
What is digital onboarding in corporate banking?
Simply put, to digitally onboard customers, you need to freight forwarders brokers email lists move the experience from the person’s request to the internet. But digital onboarding is more than just adding an online form to your website that customers can fill out on their smartphone. It involves both the front-end and the back-end —an end-to-end strategy that touches every element of the onboarding process.
What are the most important features of an effective digital onboarding experience?
Internally, every onboarding process should have automated steps that reduce unnecessary human contact to speed up decision-making.
Focus on the external customer experience, not your bank's internal capabilities.
A self-service portal that allows customers to apply online and upload essential documents.
Complete and very diligent KYC checks that do not slow down processing time.
Electronic signature tools that reduce (or eliminate!) paper signatures.
No unnecessary back and forth with customers
The ability of computers to read, sort, and process email attachments and other business data using technologies such as machine learning and robotic process automation.
As this is one of the first interactions a new customer will have with your bank, it’s important to show how convenient, customer-focused, and well-oiled your operations are. A poor, tedious, or disorganized onboarding experience leaves a bad first impression that can be hard to overcome.