Here’s 4 Ways Financial Institutions Can Perfect Customer Onboarding
How a financial institution acquires its customers will tell a lot about its’ future. In a competitive landscape like that of FIs where customer acquisition and retention is a daily tussle, it is imperative to get the onboarding experience right.
What today’s customers want
• Personalized experience
• Everything at the click of a button
• Convenience and ease
• Digital everything
What today’s customers don’t want
• Stressful processes
• Filling forms repeatedly
• Having to visit the bank
• Laggy turnaround time
How to perfect customer
onboarding and acquisition
Open
Tier 1,2,3, and 4 accounts.
Paperless account opening
Digital onboarding offers a more streamlined onboarding experience and enables customer conversion from anywhere, even outside the office.
Capture
Biometrics, demographic data, e-signature.
Mobile KYC documentation
Mobile data capture solutions allow for KYC details of every kind to be captured easily on a mobile device and scanned in-app without limitations.
Verify
Fingerprints, driver’s license, NIN, BVN
On-the-go ID verification
Combine the best customer experience with immediate verification of biometric details and proof of identity documents, even outside the office.
Enable
Loan application, on-the spot services.
Self-service offerings
Automate digital channels so that customers can onboard themselves and perform different functions at the comfort of their spaces.
Benefits of seamless customer onboarding
• Client loyalty and referrals
• Improve customer satisfaction
• Optimized customer acquisition
• Reduce churn
• Increase turnaround time
• Save cost and boost profitability
• Streamline business processes
bank customers blame inefficient onboarding as a key driver for abandonment rate.
say digital experiences are important when choosing a primary FIs.
Source paymentcom.com
What's next?
We hope we have sparked your curiousity because there is more.
We have done our research on how real-life financial institutions have been able to acquire more customers than their competitors with seamless digital onboarding experiences that leave their customers satisfied and loyal.
All our findings we combined into a sizeable document that we are willing to give to you so that you can take your financial institution to the top and beyond with seamless customer acquisition.
In this document, you will find
• Client loyalty and referrals
• Why to become a fully digital FI
• What 21st century customers really want from FIs and how to satisfy them
• The wrong and right way to go digital
• How to enable account opening with BVN and NIN (for Nigerian banks)
• Steps to becoming a winning customer-centric bank
