A significant number of new customers are attracted and onboarded online. The onboarding process is the first interaction the customer has with the organisation, and therefore it should be rock solid. A well-designed customer onboarding process supports the mission and strategy of an organisation, and increases conversion.
Customers expect digital, relevant and fast onboarding processes; a seamless integration of services with their mobile devices. Other companies are setting the norm, and financial services can no longer lag behind. In a commoditised market, a well-designed onboarding process has become a key competitive advantage.
It is challenging for organisations to find the optimal way of offering their services online; they need to balance security, compliance and risk, while keeping a seamless user experience. Innopay can help organisations to solve this struggle. We know the regulatory requirements, what customers want, what solutions and techniques are available, and how to apply these to the specific situation of an organisation.
Every quarter INNOPAY analyses the onboarding processes of retail banks. This results in a benchmark that reveals that smaller newer banks outperform their more established competitors. Read more about INNOPAY's benchmark here.
Source: INNOPAY analysis Q1 2018
At Innopay we believe that the onboarding process should be flexible and modular, to be able to adhere to the rapid changing requirements. Our offering is also modular. We can help you design your onboarding strategy, support with compliancy, select the right solutions and partners, and ensure your organisation is ready to support it effectively.
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In september INNOPAY hosted the Digital Customer Onboarding event. During the event we discussed and jointly discovered what digital customer onboarding in financial services could look like. Find the program here.
1 - Digital Customer Onboarding introduction - Josje Fiolet - INNOPAY
2 - Risk management as enabler of the onboarding experience - Mesut Demirtas - ING
3 - Onboarding and Authentication: match made in heaven? - Sebastian Bärhold & Daniel Frances - IDNow & Veridium
4 - Onboarding journey of Moneyou - Maartje Visser - Moneyou
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How #openness will change insurers’ pricing strategies
Efforts of insurers should focus more on delivering personalized propositions to their customers. This article elaborates on how insurers can gather relevant insights in an open ecosystem world to allow for more personalised premiums and...Read more...
Third Parties and Corporate Banks: Digitally Transforming the Corporate Onboarding Process
The concept of Open Banking and its potential grows steadily on corporate banks. PSD2 has been an important catalyst for banks in opening up, however, it forced them to focus on complying first, leaving little...Read more...
Fostering an innovative environment: a pragmatic guide to embracing innovative CDD technologies while effectively managing the associated risks
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,...Read more...
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