Improving the client onboarding process support multiple channels of engagement to reap rewards

568 views

Published on

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.

0 Comments
0 Likes
Statistics
Notes
  • Be the first to comment

  • Be the first to like this

No Downloads
Views
Total views
568
On SlideShare
0
From Embeds
0
Number of Embeds
2
Actions
Shares
0
Downloads
7
Comments
0
Likes
0
Embeds 0
No embeds

No notes for slide

Improving the client onboarding process support multiple channels of engagement to reap rewards

  1. 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. PEX Network, a division of IQPC, facilitates access to a wealth of relevant content for Process Excellence, Lean, and Six Sigma practitioners. Further enhanced with an online community of your peers, we will provide you with the tools and resources to help you perform more effective and efficiently, while enhancing the quality operations within your organization. As our industry becomes more and more dependent on the Web for information, PEXNetwork.com has been developed to provide Six Sigma professionals with instant access to information. Leveraging our strength and foundation in education, IQPC and the Process Excellence Network are uniquely positioned to provide a comprehensive library of webcasts gathered from our events, as well as exclusive content from leaders in the industry.

×