A customer’s first experience with a financial institution is crucial in setting the tone for the rest of their experience with the bank. The client onboarding process is essential for making an excellent first impression and gathering Know Your Customer (KYC) data that will be used to manage the account in the future.
The digital onboarding of customers is a process that financial institutions can use to make it easier for new customers to sign up. By conducting the entire process online, banks and other companies can make the process more efficient and convenient for everyone involved.
With the digital onboarding process, customers can sign up for services more easily and securely than ever without visiting a bank branch or office. They can complete their onboarding process from any location – and safety, credibility, and reliability are still secured. This process is called ‘Digital Onboarding,’ Deepvue’s ‘Digital Onboarding Solution’ simplifies the KYC process while digitizing the onboarding procedure and enhancing Customer experience.
Features
- Provide a comprehensive digital experience.
- Decrease the number of manual verifications and lost information.
- The overall total turnaround time should be reduced to hours or a day.
- Allow customers to complete the onboarding process from any location and device, making it convenient.
- Allow customers to upload documents securely for review and verification.
- Provide customers with real-time feedback on their application status.
- Analyze customer data quickly and accurately to reduce processing times and costs.
Deepvue’s Digital Onboarding Solutions
User Onboarding: The Deepvue User Onboarding Solution blocks are designed with a vision to digitally onboard 80% of users with minimal human intervention. It offers simple plug & play integration that creates entirely customizable journeys across use cases, making it easier than ever to get started with your product.
Merchant Onboarding: Deepvue’s Merchant Onboarding solution is designed to help acquirers onboard merchants quickly and efficiently while ensuring proper due diligence. With this solution, merchants can be onboarded in less time, and acquirers can have peace of mind knowing that all necessary checks have been carried out.
Digital Onboarding Experience Benefits
- Save Acquisition cost by 80%.
- Reduction Turnaround Time by 77%
- Increase Business efficiency by 3x
- Reduce digital fraud by 90%.
- Increase ROI by 10x
- Fully compliant with regulatory standards.
Why Deepvue Digital Onboarding Solution?
For Customers Efficiency
- Convenience and accessibility from any location and device.
- Secure document uploads for review and verification.
- Real-time feedback on their application status.
- Increased transparency throughout the process.
For Financial Institutions Efficiency:
- Reduced total turnaround time to hours or a day.
- Improved customer satisfaction due to a faster onboarding process.
- Increased security with secure KYC data management systems.
- Reduced costs associated with customer onboarding processes.
For Merchants Efficiency:
- Quicker onboarding process with minimal human intervention.
- Secure payment processing through automated verification systems.
- Reduced fraud risk with advanced authentication methods such as source verification, liveness detection, authentication, and facial recognition technology.
For Sales Efficiency
- Pre-populating data in real-time can decrease the amount of manual form completion.
- Enhancing the performance of Relationship Managers could lead to increased revenue.
- The onboarding turnaround time was reduced by 77%.
For Efficiency in Operations
- Making sure data is accurate to avoid redundant information.
- Fully customizable to meet evolving and ever-changing regulatory compliance.
- Back office overhead expenses should be reduced by 60%
IT Efficiency
- Convenience and accessibility from any location and device.
- Secure document uploads for review and verification.
- Real-time feedback on their application status.
- Increased transparency throughout the process.
Conclusion
In conclusion, Deepvue’s Digital Onboarding Solution is comprehensive for customers, financial institutions, merchants, financial services, and sales teams. It streamlines the onboarding process with automated verifications that save acquisition costs by 80%, reduce turnaround time by 77%, increase business efficiency by 3x, and reduce digital fraud by 90%. It’s fully compliant regulatory standards, secure data management systems, and pre-populated data in real-time offer the perfect balance of efficiency and security.
So if you’re looking to kickstart your digital transformation journey, contact us today for all your digital onboarding needs!
