why digital customer onboarding is important

Why is digital customer onboarding so important in banking?

why digital customer onboarding is important

New banking customers are expecting to open a new checking or savings account remotely by using their laptop or mobile device. According to the special report published by BAI three-quarters of Millennials say they would switch banks for a better mobile experience by 2020, while Gen Xers’ appetite to use digital methods to open bank accounts for savings and loans is rising.

Mobility goes to the next level, and it is becoming critical to deliver a competitive onboarding process. Users need to be able to open a bank account on any device, whenever they want. However, an issue might arise because of this. Most banks will need to acquire a new level of technical flexibility. To provide bank personnel with a 360-degree customer view, data must be accessible through APIs, systems, and form fields that are easy to use.

The various banking departments need to communicate in real-time, and silos must be broken down. Due to their design, large legacy systems are frequently unable to integrate with such an ecosystem. Technical support is required to bring all the pieces together and provide a consistent onboarding experience. 

Is Digital Onboarding delivering to the bottom line of the bank or is it an extra cost?

The digital customer onboarding process becomes paramount for the competitiveness of the bank when delivering the customer experience, thus increasing conversion rates. Additionally, investment in a modern onboarding process can potentially offer cost-cutting, improve efficiency, and eliminate obstacles and response time whilst adhering to some of the most severe restrictions with ease. 

What are the advantages of making an investment in digital onboarding?

Read more!


Profile sponsors the Banking Summit

Profile sponsors the Banking Summit

Profile sponsors the Banking Summit

Profile Software, a leading financial solutions provider, announced today the sponsorship of Banking Summit as bronze sponsor. This hybrid event entitled “Mapping the way to growth” taking place on 22 March at the Grande Bretagne Hotel Athens, and in live streaming, will address the challenges of the banking industry guided by industry experts.

In Banking Summit event, the post-pandemic recovery projects of the European economy will be highlighted along with the attractiveness of finance and banking industry in Greece and the investments. It will also elaborate on the digital transformation and the future of the banking sector.

Profile is a leading provider for the banking industry for the past 3 decades, investing in innovation and digital transformation whilst being in front run of technological advancements delivering the most suitable and pioneering platforms to global financial institutions. At the event, Profile will have the opportunity to liaise with industry experts to discuss on what’s new and how the new reality is affecting the sector. The latest addition in its portfolio, the Finuevo Suite, is a complete end-to-end banking platform which incorporates Digital banking (Finuevo Digital) with advanced Core Banking, Lending and Payments solutions (Finuevo Core).  A native-cloud system, for front-to-back operations using state-of-the-art tools to help users achieve exceptional day-to-day banking operations.

Profile supports industry leading events to showcase its constantly evolving product portfolio incorporating market trends with advanced functionality, whilst interacting with the market to better elaborate on trending and future needs.

For registrations follow the link here.