The banking sector is growing rapidly, and matching its speed is the fierce competition for customer acquisition. Every bank wants the customers to themselves, both the ‘unbanked’ and the ‘banked’. Because of this, bankers and executives are making references to varying forms of new technologies, jumping aboard any promise of the ‘new best thing’ to bait customers. It becomes a question of ‘What do customers want?’ And a race to be the first to give it to them.
Today’s consumers want faster banking experience, from bank account opening to rapid customer service 24/7, anywhere. To customers, it’s not about the ‘new best thing’ banks can offer, it’s about how the banking experience fits perfectly into their everyday lives. For example— that store owner wants to open a tier 3 account and generate his account number in no time while standing in front of his store attending to customers; That student wants to validate her BVN and run off to class without having to fill numerous paper forms with unnecessary fields; That mechanic wants to request for a new ATM card without having to waste time he should be spending on fixing a client’s car to stand on queues at the bank; That farmer wants to know that he can open any choice of account seamlessly even with the poor network in his hometown. In other words, customers want ease and flexibility at the touch of a button.
Now, the race is on, the starting gun has been shot, and every bank wants to win. But to do that, on the immediate, they would have to solve their own problems. Problems like;
Stressful and time-consuming processes of customer acquisition using paper forms that would pile up, get lost, or may never be referred to again resulting in wastage.
The cost of printing different bank forms to suit the ever-changing needs of customers.
Tedious process of manually entering customer data into backend system, plus the high chances of untraceable human errors.
Inability to monitor deployed marketing field agents to ensure they are not making false job completion claims.
Inability to validate customer data on the spot to ensure accuracy before information is processed.
The impossibility of mapping responses by location, severely limiting the amount of insights.
How BioRegistra fits into all these
Some bankers think customers want new technology, but what they really want are the benefits that digital technology can provide. Digitization basically is about looking for ways to reduce friction or solve pain points of both the customers and the bank. Hence, digitization is about finding a solution that ensures everyone wins. And that’s where BioRegistra comes in. With this all in one KYC platform, banks get an end to end digitization solution that can enable them give customers that unique experience they want and they (banks) can get the numbers they need. More elaborately, with BioRegistra banks can;
Acquire customers on the go by capturing all kinds of data needed for opening tier 1, 2, or 3 accounts without customers necessarily stepping into the bank. So even if the bank agent meets a customer without supporting documents like IDs, passports, reference forms, etc, there is no need to sweat as the platform allows for documents to be scanned in-app and details added to the required fields.
BioRegistra digitizes all forms used by banks from account opening forms to card renewal applications, POS terminal applications, cheque book request forms, and more, and provides a single point of access for marketing executives and other stakeholders. What’s more, because the webforms are easily configurable to fit any business need, agents anywhere can meet the banking needs of any customer with the touch of a button.
BioRegistra configures captured data from one point and publishes across all channels allowing information to be stored once and for all. Hence, customers only need to provide their details to the bank once to create a profile for future transactions and when seeking new services, information are pre-filled automatically.
Captured data are integrated into the workflow in real time so processes like account number generation or BVN validation can be done at shocking speed. What’s more banks are saved the cost of human errors during re-entry and customers are saved from the long process of correcting costly errors they did not make in the first place.
With BioRegistra, banks can even the playing field to make sure the race is no longer for the swift but for the willing. This all in one KYC solution was made with the belief that everyone can be banked, even those folks in remote areas where network connection is unstable . Agents can be deployed to those areas equipped with their devices, and empowered with a platform that can be configured as the need arises. Collated data would sit comfortably on the device, to be synced automatically once network connection is detected.
The geolocation feature of BioRegistra enable bank marketers see the different locations where each form was filled, as well as monitor the capturing process of deployed agents.
With BIOREGISTRA, your bank is assured a win. Get started now for FREE.