Five advantages of customer onboarding automation for the banking industry

First impressions count – how many times have we heard that phrase, so true in all areas, and even more so in business!

Customer onboarding is a process that allows potential customers to start interacting more efficiently with service platforms and is also a golden opportunity for organizations to deliver greater value. This step-by-step registration of information must be simple, agile and secure.

New technologies such as Artificial Intelligence (AI) and solutions such as Robotic Process Automation (RPA) and APIs, have given a twist to onboarding, which was previously done manually, allowing sectors, such as the financial sector, to improve the customer experience and thus build customer loyalty, in addition to complying with current regulations and security controls, through friendlier platforms.

Among the advantages offered by the automation of customer onboarding in banking are:

  • Faster and safer customer acquisition and onboarding, through technological tools at their fingertips such as mobile applications or websites.
  • Better guidance for users to manage account openings, card and loan applications online or other products and services (goodbye to long forms and long lines).
  • Speed and greater security for financial institutions in the analysis and validation of user information for the approval of products and services, through new technologies such as Big Data, facial recognition and other biometric data. Digital onboarding reduces the possibility of information dispersion that traditional paperwork can generate.
  • Reduced operating costs and better use of employees in other areas.

Faced with the multiple challenges faced by the banking industry, digital onboarding provides the tools to give potential customers the differentiating factor they are looking for. Pranical Technnologies Latam, a company with more than 20 years of experience in the development of technological solutions, accompanies financial institutions in the automation of onboarding, with cutting-edge technologies, strategies and consulting to get the most out of this solution.

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