Introduction to digital customer onboarding

A recurring theme we see among banks is process digitization. Digital transformations have proven to reduce operating costs while also enabling banks to be nimble and more responsive to customer needs. They also allow banks to create innovative engagement models through digital channels. Digitization itself, however, is too wide a topic to cover in a single white paper, so we’ve selected one area that has been largely neglected by banks: digital customer onboarding.

While the workflows of retail and commercial customers vary greatly, the goals are the same: Pick a product suite best suited to their needs and onboard effortlessly. The bank’s goals are to initiate a positive, long-term relationship, maximize product use, and automate as much as possible.

We break this white paper into three parts:

1. Landscape: Understanding the onboarding landscape across major banks today

2. Strategy and design: Creating the ideal customer experience and resulting software application

3. Technology: Designing the technical architecture to support the landscape, strategy and design

Our objective is to share our experience and provide you with foundational tools to help you on your own product journey. Let’s get started.