Digital Customer Onboarding during Pandemic Times
The pandemic has generated a great demand for Digital Solutions. With customers and employees confined to their homes, it is critical for businesses to offer secured digital onboarding services in a way that it eliminates the time and cost required to manually validate a customer, speed up customer onboarding seamlessly while authenticating customers’ identities with 100 % compliance to KYC norms / SEBI regulations.
According to recent article published on moneycontrol.com, “Digital Onboarding helps reduce the number of customers visiting the branches, it also saves time of the executives from facing the customers directly. If board meetings, family get-togethers and even marriages can happen via video calls, can opening bank accounts be far behind? Several Indian banks are preparing to offer customers the option of opening a new account through video conferencing instead of visiting a branch.” (Ref: https://bit.ly/36VXm6m)
Why Digital Onboarding?
For most businesses across all domains, constantly identifying customers through Know Your Customer (KYC) processes is imperative. Any customer who opens a new account starts his journey of Onboarding by filling details, submitting photographs, signing on multiple forms and ensuring all their signatures match with each other, and 100% compliance to regulations without any errors. The traditional process of Onboarding is time consuming, but with Digital Onboarding the process is simplified. It is easy, convenient, cost-effective and most of all engages the customer with a seamless customer experience across channels.
An identity for the digital age
- SEBI (Securities and Exchange Board of India) has now approved the Digital Onboarding Process with video calling and this will be applied across the industries in near future.
- “According to the article published on PYMNTS.com, E-Commerce giant Amazon is also considering new ways to onboard merchants as the pandemic continues. The company is testing a video interviewing system to replace in-person meetings with sellers that want to list their products. It has been carefully exploring this technology for several months, to prevent spreading the virus and boost its fraud protection efforts.”
Benefits & Features of Digital Onboarding solution built on UniServe™ NX
The AI powered Digital Onboarding solution with Real-time face recognition capabilities simplifies the Customer Onboarding Journey with Paperless verification. The benefits of the solution are:
- Real-time identity verification
- Eliminates fraud
- 50% Faster Onboarding
- Adheres to KYC Regulations
- Avoids duplicity of Customer Data
- Helps Onboard 1.5 million Subscribers per day
- Improves Customer Experience and Customer Engagement
- Acquires new customers quickly
Features:
- Built on Dynamic Case Management capabilities
- Data Virtualization
- Inbuilt Advanced Biometric Capabilities
- Enables Customer identity verification for compliance with eKYC/ AML
- Secured Digital Identity & Signature & more….
For any enterprise, small or large, a Digital First Journey is something that will add value to the customer with enhanced Customer Engagement. Not just that, a Digital Onboarding Solution like ours built on UniServe™ NX platform empowers enterprises with easy adoption of digital and seamless onboarding of customers at half the time, saving costs and thus contributing to increasing business growth.