Fostering an innovative environment: a pragmatic guide to embracing innovative CDD technologies while effectively managing the associated risks

  • Josje Fiolet
  • Digital identityOnboardingKYCDigital Transformation

The European Supervision Authorities, supporting new Customer Due Diligence technologies, provided a pragmatic guide for organisations considering how to strike the right balance. By using these guidelines, financial institutions can more easily embrace digital opportunities, and quantify the risks and security aspects of using innovative solutions. This analysis article clarifies the guidelines and provides additional insights and considerations.

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How a new kid on the payment block is outclassing other banks

  • Josje Fiolet David Mintjes Jurriaan Wesselink
  • Digital identityOnboardingRetail BankingChallengerBenchmark

Although newer and smaller banks are more agile than their larger, more established competitors, they are being outclassed by a new kid on the payments block. This is one of the interesting conclusions of the latest INNOPAY Onboarding Benchmark.

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Decentralised identity enabled by the data control stack turns GDPR into a competitive advantage

  • Maurits Dewina David Mintjes
  • Digital identityArticleGDPRData SharingOpennessCustomer in Control

A new type of player in the digital identity ecosystem - the consent manager - is enabling customers and organisations to take more control over (identity) data. Relying parties should follow this development with great interest because there are significant benefits gained from joining a data control scheme.

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Online customer onboarding is all about personalisation

  • Esther Groen Christian van Ramshorst
  • Digital identityOnboardingCustomer in Control

This blog presents a model (developed with the Shopping Tomorrow 'Digital Identity' experts) that will help organisations to better understand their own context in relation to the behavioural context of their preferred consumers. Enabling to define and deliver on a customer centric digital strategy and onboarding process by putting the customer in control of their identity.

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How to optimise your customer onboarding journey: align your modular building blocks

  • Josje Fiolet David Mintjes
  • Digital identityOnboardingKYCBenchmark

The INNOPAY Digital Customer Onboarding Benchmark revealed that higher performing banks are able to better position and align their different modular building blocks. Aligning these blocks results in a "low effort / high response" process that is customer-centric.

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Unlock the potential of your onboarding process: banks, you never get a second chance to make a first impression, so you’d better do it right!

  • Josje Fiolet Art Stevens
  • Digital identityOnboardingBenchmarkKYC

Opening an account is one of the first interactions a new customer will have with you as a bank. And it is a true cliché that ‘you never get a second chance to make a first impression’. So, you’d better do it right, right?

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Think hard before outsourcing your new onboarding process

Get a grip on the onboarding redesign process by using a simple 3 Step plan. Begin with strategic relevance. Next relate your strategy to concrete issues like customer interaction and regulatory requirements. Only then work with solution providers to turn the strategy into tangible customer experience.

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eIDs for KYC: no silver bullet yet, but golden potential

  • Friso Spinhoven Eefje van der Harst
  • Digital identityEnglish contentOnboardingKYCeIDAML

This blog elaborates on how financial institutions and Digital Identity Service Providers can play a role in aggregating information from different national electronic identity (eID) schemes to streamline KYC-processes.

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Corporate banks and FIs: what’s the ETA of your onboarding process?

  • Esther Groen Chantal van der Velde
  • PaymentsDigital identityOnboardingCorporate Onboarding

Rapid technological development drives innovation of customer processes in many sectors. Yet, corporate banks and FIs are holding on to their current, outdated corporate onboarding processes. Innopay believes that banks and FI’s need to step up their game if they want to remain relevant in the future. This first blog of a series of two elaborates on the competitive advantage of a customer centric onboarding process and describes six causes for many corporate banks and FIs to be lacking behind.

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