Streamline On-Boarding to Accelerate Customer Journeys In Financial Services

Customer service is emerging as a key competitive differentiator for Financial Services firms. However, just 8 percent of banks have standardized their customer on-boarding processes. Making a good first impression is the beginning of any customer journey, and on-boarding represents an opportunity to get relationships off to a good start.

Financial services firms are facing a changing operational reality. They must be prepared to deal with:

  • Disruptive technologies that are changing the way clients interact with them
  • Regulatory standards that are evolving in light of these technologies
  • New business models that provide convenient access for users leveraging new methods to engage firms

These factors add up to make creating a positive customer experience particularly challenging, and Financial Services institutions that can streamline and accelerate on-boarding get a critical edge.

Considering the entirety of the customer journey is critical from the outset of the on-boarding process. Evaluate how clients are interacting with services, what devices they prefer and when they need access to in-person services compared to when digital solutions make the most sense. From there, refine apps and services to meet the needs of customers who will engage with you on a variety of touch points and need a common experience across these diverse channels.

Providing this flexible customer engagement model hinges on having internal processes in place to ensure your users can keep pace with client demands. This is where ramping up on-boarding processes pays off. Being able to cut out the paperwork and process gaps that slow projects to a crawl can ensure you establish the foundation for an excellent customer journey at the start of a new relationship.

This animation delves into the growing need for streamlined on-boarding in Financial Services. Check it out to learn more: