Improving Customer Procesess Using Multichannel Engagement Tactics

We respect your privacy, by clicking "Download Your Copy" you will receive our e-newsletter, including information on Podcasts, Webinars, event discounts, online learning opportunities and agree to our User Agreement. You have the right to object . In addition, you agree to having your details passed onto the sponsor who may promote similar products and services related to your area of interest subject to their privacy policy. For further information on how we process and monitor your personal data click here. You can unsubscribe at any time.

Onboarding is a critical process in the client life cycle as it sets the stage for the rest of the customer relationship. Achieving efficiency during the onboarding process has become a necessity not only to meet clients’ expectations and preferences, but also to comply with the growing number of regulatory requirements which impact the onboarding process to protect customers and firms from taking undue risks. Banks, for instance, that require too rigid an onboarding process may leave first-time customers with a poor impression of the firm, thereby reducing their appetite to conduct more business with the bank after the first account setup or loan approval.

This white paper examines the strategic value of investing in mobile and Web-based onboarding capabilities to achieve banks' current priorities of improving the client experience, restoring profitability, and meeting regulatory requirements. The report reviews banks' current and expected onboarding challenges (both for new-to-bank and existing clients) and illustrates the components of a mature and customer-focused onboarding process.