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 identityOnboarding

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 Yet, corporate banks and FIs are holding on to their current, outdated corporate onboarding processes.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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Banks are not using the regulatory potential for digital onboarding

  • Saba Ullah
  • PaymentsDigital identityOnboarding

Incumbent banks still use regulatory requirements as an excuse to not improve their onboarding process, and therefore miss out the digital opportunities. Regulation increasingly provided solutions and opportunities to provide customers with the best digital onboarding experience.

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Banks will lose when not changing their perspective on how to realise customer centricity

Becoming customer centric, means that traditional banks need to be in it for the long haul and go through a long, disrupting and often uncertain transformation. It is therefore imperative to balance long term spend with effective short term results. Therefore, contrary to conventional approaches, Innopay advises to start with establishing an activity-based view of the existing operating model to enable banks to deliver these short term results. This is the only way to face competition, deal with regulation and safeguard and sustain client relationships.

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(Re)designing your onboarding process? These are the requirements to consider

  • Josje Fiolet
  • Digital identityOnboarding

For financial services, a significant number of customers is attracted online. The customer onboarding process is one of the first interactions the customer has with the organisation and therefore it should be rock solid.

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