(Estimated reading time: 5 min)
Onboarding is the star of the way in which banking operations are carried out remotely. This strategy is a vision of digital transformation that shows the financial sector a series of efficient channels to resolve demand in adverse situations.
If you wonder what onboarding is, it is an induction process that allows people to be remotely incorporated into the acquisition of products, services or as collaborators of a company.
In this article we are going to talk about onboarding in the financial sector and knowing it can be key to the growth of your company. Whether you're in a role as a high-level contributor or figured as an entrepreneur, onboarding platforms have a lot to offer you.
Today the ATM network handles cash withdrawals in 99.2%, while over-the-counter operations resolve:
- Deposits
- payment of credits
- check payment
- Services pay
- balance inquiry
- Accounts opening
- Bank transfers
Unfortunately, users are unaware of the operations they can carry out from digital banking without having to go to a branch or at an ATM.
However, the current context requires paying attention to the gradual process of digital transformation that the confinement has accelerated since 2020.
Thanks to onboarding, different entities open digital accounts, bank accounts, insurance, credit, among other financial products. Undoubtedly, digital bank accounts in Mexico experience a new scenario for the financial system.
It may interest you: How to implement a digital onboarding plan safely
Digital onboarding displaces over-the-counter operations.
- Improve the customer experience.
We know, the queues and the transfer is one of the reasons why most prefer to attend tasks remotely. And when it comes to finance, today's onboarding platforms gradually achieve secure experiences for remote information processing.
|
without onboarding
|
with onboarding
|
- Investment of time at the window.
- Procedures with printed documents that can be damaged.
- It is common for the staff to raise their voices at the window, not all doubts are resolved and customers cannot use a mobile phone.
|
- Solve in less than 10 minutes.
- Organization of client documents from the cloud.
- Personalized attention from a mobile device where an executive can resolve customer concerns.
|
- Ensure customer loyalty.
Done, improve the customer experience with customer onboarding, offer a backup to your company, the next step is loyalty. But, do you think that your client or supplier wants to wait in front of the window or with an executive in a branch to find out about the loyalty plans that your company offers? Know this:
|
without onboarding
|
with onboarding
|
- Loyalty plans are limited to offer with printed brochures and requires a new procedure.
- Purchasing a physical loyalty card can be overwhelming and unnecessary for customers.
- Communication happens only once directly and in the best cases via email.
|
- You can offer a variety of online loyalty plans such as: digital account, points to make purchases online or use of QR codes to access clubs and other benefits.
- The client has the possibility of managing a digital loyalty card linked to a bank account.
- Create a point of contact by videoconference and improve customer satisfaction by onboarding.
|
- Build trust.
When it comes to money, trust is key among people when choosing a bank or financial institution. And today the added value of a bank account is the variety of services, opportunities and benefits that can be accessed as a process of digital transformation. How can you build trust?
|
without onboarding
|
with onboarding
|
- When starting, it may be that you do not have the regulations and best practices and without even considering it.
- Contracts on paper take time away from the customer's experience in acquiring a financial service or product.
- Users run risks due to alteration of physical documents, identity theft or unlawful acts of fraud.
|
- Digital platforms like NA-AT Remote Onboarding comply with all KYC/AML regulations.
- Different institutions use digital contracts that include terms, conditions, and policies to expedite their reading and understanding.
- Digital onboarding allows the opening of bank accounts up to level 4 due to the strict and rigorous technological process of identity verification before government institutions.
|
And before this, what is onboarding. . .The digital onboarding process in the financial system is an innovation strategy that allows placing financial products and services remotely. And this isn't the first time you'll hear about it.
Know before anyone else how digital onboarding works and plan the new processes to empower your company in the financial system. Sign in now and request a free demo.
References:
CONDUSEF. If you want to withdraw cash or check your balance, find out about the agreements that banks have signed for the collection of commissions. 2022. Available at: https://bit.ly/3AZoNwU
