What makes ‘Bank Account Opening through digital channels’ a delightful customer experience?
We are living in the era where even classical music lessons are given online.
If you want to buy anything from Pizza to clothes, you need not travel from home to shop 2 km apart. You simplify have to get on board with fully self-explanatory digital journey and within minutes your work is done.
So, it’s no surprise that today’s techno-savvy customers expect even the bank account opening to happen digitally within few minutes.
Is it possible to actually achieve that?
Answer is a big ‘Affirmative!’
Banks just need to follow following 5 building blocks:
· Customers can start account opening process and complete subsequent stages from any device at any time
· Agent in-charge of this lead can also support from anywhere anytime
· Simplified and time-saving process for both parties
2. AI Empowered insights generation
· Quick and deeper analysis of customer data is possible with pattern identification powered by AI
· Actionable insights generated can be used to seizing new opportunities
· Customer segmentation at real-time allows for smooth account opening journey
3. Intelligent win-back mechanism and personalized offerings
· Well-designed journeys encourage prospects to complete their account opening process
· Insights generated by analyzing behavioral data helps in designing intuitive journeys with personalized offers
· Different scenarios are already taken into consideration to offer solutions to customer’s problems
4. Automation of Customer Verification
· E-KYC makes instant account opening possible
· Seamless integrations with Credit rating bodies help in determining credit-worthiness of customer instantly
· Integration with Anti Money Laundering agencies makes the process authentic
5. Automation of routine tasks with Straight through processing
· Journeys are designed such that routine tasks like handling customer requests and updating additional information are fully automated
· Collection of customer documents is also automated which makes account opening quicker
· Visual Journey designers can add some customization for instant fulfillment
