Simplify 'Know Your Customer' (KYC) Compliance With Mobile ID
For any financial services firm, making certain the customer is who they say they are is mandatory for both obvious and regulatory reasons. Without...
3 min read
Genus Technologies : May 31, 2023
Opening a new account or applying for a mortgage involves asking for and handling customer information from different sources and from almost any device. And, of course, formats are completely unpredictable. However, relying on outdated, manual processes adds cost to your operations and ultimately affects your net income.
With today's technology, automating customer onboarding systems has become mission critical for organizations looking to deliver a seamless experience to their customers. By implementing customer onboarding automation, you can streamline the entire process, reducing manual effort and increasing efficiency. This not only saves valuable time but also ensures a consistent and personalized onboarding journey for each customer.
With improved automation solutions, you can enhance the overall customer experience, leaving a lasting impression right from the initial interaction. Let's explore the disadvantages of manual account onboarding processes and the many advantages of automated customer onboarding systems.
Based on the Kofax 2022 Intelligent Automation Benchmark Study, these are the key drivers for implementing onboarding process automation:
Your customers and prospective customers are sophisticated, connected, and empowered. They expect their banks to offer flexible, 24/7 transaction capabilities, adaptability to their needs, ease of use, and maximum confidentiality and data security. Effective customer onboarding is crucial, as it sets the stage for customer relationships. Engaging customers immediately after account opening is vital for driving the adoption of online and mobile banking services and nurturing long-term relationships.
Automated onboarding systems powered by an intelligent automation platform such as Kofax TotalAgility offer numerous advantages over manual processes.
Onboarding is your customer’s first experience with your institution and is crucial to ensuring long-term satisfaction. And, of course, satisfaction directly affects renewal rates and your bottom line. Kofax intelligent automation technology can make the onboarding process a smooth, fast, and painless operation for everyone involved.
Consider starting your intelligent automation with:
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