Customer Onboarding

Business Challenge

In the current setup, customer onboarding is a cumbersome offline process. Customers must submit hard copies of setup application forms to bank branches, where back-office teams manually process them. This process typically takes an average of 5 days, leading to delays in accessing our products and services.

We recognized the need to digitize and streamline this process to improve customer experience and reduce onboarding times significantly.

Solution Overview

Our solution involves offering online onboarding for various products, including Cash Management, Trade Services, and Smart Collect, through our digital platform. Additionally, we incorporated eKYC (electronic Know Your Customer) verification into the onboarding process to expedite account setup.

Customers now have the convenience of applying for products via our Net Banking portal or Mobile Banking app. Once a customer submits an application online, our back-office portal handles the setup process, enabling customers to start transacting online on the same day they apply.

Furthermore, new users undergo eKYC verification, seamlessly onboarding them to explore our products and services.

Key Benefits

• Streamlined Onboarding: Customers can apply for multiple products digitally, reducing manual paperwork and delays.
• API Integration: Our solution integrates multiple external APIs into a single application, simplifying the onboarding process.
• Convenience: Customers can access the onboarding platform via Net Banking from anywhere, using their preferred devices.
• User-Friendly Interface: Our digital forms make it easy for customers to provide necessary details quickly.
• Increased Onboarding: The digitized process attracts more users, expanding our customer base.
• Reduced Turnaround Time: With swift processing of eKYC and automated setup, customers can avail of our services with minimal delay.

Implementation Timeline

• Impelementation Completion: The development and testing of this module were completed within 3 months.
• Go Live: The solution was delivered for UAT within 6 weeks and implemented in a phased manner over the following months