The COVID-19 threat has brought unforeseen changes in the financial industry. If digital onboarding was gaining traction before COVID-19, now it has become mandatory. In this presentation, we’ll take a closer look at how banks and FinTechs can leverage the benefits of digital onboarding and how they can design a winning onboarding process. As the COVID-19 lockdown is getting to a close, tech-savvy companies that implement digital onboarding will have an even bigger edge over their more-traditional counterparts. To comply with all SCA rules and regulations, companies can use Tremend’s highly-advanced TORP. Learn more about this tool here: https://bit.ly/2TFv4rp

1. Digital Onboarding in 2020
How companies in the Financial Sector
can leverage this New Trend?

2. The COVID-19 threat has brought unforeseen changes in the financial
industry. If digital onboarding was gaining trac on before COVID-19,
now it has become mandatory. In this presenta on, we’ll take a closer
look at how banks and FinTechs can leverage the benefits of digital
onboarding and how they can design a winning onboarding process.
As the COVID-19 lockdown is ge ng to a close, tech-savvy companies
that implement digital onboarding will have an even bigger edge over
their more-tradi onal counterparts. To comply with all SCA rules and
regula ons, companies can use Tremend’s highly-advanced TORP. Learn
more about this tool here.

3. As the COVID-19 threat is rampaging through world economies,
a growing number of businesses and corpora ons in all
industries, from telecom and educa on to healthcare and
financial ins tu ons, are required to take their onboarding
processes to the next level.

4. In the post-COVID era, all the aspects of our lives will be impacted
by technology. The tradi onal manual onboarding systems and
processes have become obsolete and outdated. Instead, financial
ins tu ons, including FinTechs, payment processors and banks,
need to implement be er digital processes that cater to the needs
of today’s customers.

5. Because the lockdown will con nue to exist and will probably
be triggered by subsequent waves of infec ons during the end
of 2020 and the beginning of 2021, companies in the financial
industry need to find innova ve ways in order to adapt to the
situa on. The best thing they can is to offer virtual onboarding
services to their new customers.

6. WHAT IS
Digital Onboarding?

7. Digital onboarding enables financial companies to
streamline the acquisi on process of new customers.
Customers can thus open bank accounts and perform
transac ons by using digital means, such as digital
signature, document upload and facial recogni on.

8. The onboarding process needs to be:
Consistent with the brand
Well-planned
Thoroughly tested
Seamless

9. Challenges of the old approach

10. The traditional onboarding is extremely tedious and can take months
Takes a lot of time & resources
Involves countless interaction with the customer
Has to follow a multitude of processes across several departments
It usually involves the legal, operational and credit departments of a financial institution
Documents may be lost due to too many interactions between the departments
The customer is likely to get confused and give up the onboarding altogether.

11. WHY MIGRATE TO
Digital Onboarding?

12. Capitalize on the trends part of client onboarding, which
includes but are not limited to AI, SCA, digital iden ty,
blockchain, data collabora on and biometrics.
Can make employees become more sa sfied with their jobs.
Prac cally, a bank that digi zes the onboarding process can
save up to 30% of their employee’ me, enabling them to spend
more me on other tasks.
Improve the brand’s image in the eyes of new customers
Save customers me
Create a sense of belonging for their target niche
Companies that go fully digital can grow and expand, gaining an
edge over their compe on.

13. HOW TO DESIGN
A WINNING
Digital Onboarding?

14. Designing a smooth, winning onboarding process
allows companies to gain an edge over their compe on.
The steps are:
Personalize the process as much as possible
Integrate the onboarding process
Enable each customer to have a say in the process
Capture feedback from customers
Con nuous process

15. In 2020, Banks and FinTechs should con nue to innovate and
streamline this process, making it as easy as possible. To accomplish
that, they can use Tremend’s own TORP.
TORP is a bespoke, highly-advanced and integral digital customer
onboarding tool that can allow banks and FinTechs to fully digi ze
their processes and comply with all SCA rules and regula ons.
This tool is specially designed by the experienced Tremend
engineers to automate the buyer journey experience and to
allow financial companies to stay ahead of the curve.

16. Thank you!
We’re always happy to talk.
email: hello@tremend.com
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