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.

1. Improving the Client Onboarding Process:
Support Multiple Channels of Engagement to Reap Rewards
You can download the White Paper:
http://tiny.cc/jraw3w
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.
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