We’ll go through the Digital Onboarding process, the meaning of Onboarding, its types, how it works and why it’s beneficial for your company.
After analyzing these aspects, we will understand why a digital onboarding process is crucial for your business.
What is an Onboarding process?
An onboarding is the process of implementing new clients to your company and making sure that they are comfortable with your products, culture, and values. Onboarding is crucial for the process of making a client happy and satisfied with your company.
Types of Onboarding process
On-Site: this is the conventional one, clients will go to your company’s office and, for them to become customers, they will show identification documents and prove that is in fact them.
Semi-On-Site: when the companies offer digital documents for their new clients, for them to fill them at home, but they still are required to go to an office.
Digital: The whole process is digitalized, and the customer never has to step a foot in your office if he doesn’t want to.
How does identification work in a digital onboarding app?
Digital identification has started being used heavily in the financial sector, where companies have found that their customers enjoy more being able to be at home and register there for services, rather than waste their time in an office.
Digital Identification is a 100% digital process. Your customers will never find the need to go into your office to open an account or do things that they could be doing from home.
Opening a bank account is the most conventional example for digital onboarding in the banking sector.
Why is identification in digital onboarding changing the way we do business?
There are many reasons why the companies in the financial sector have found benefits from this new revolutionary technology. First, this revolutionary technology is very simple for the user. Second, at the same time, videoidentification allows for verification in real time, thanks to the implementation of AI.
These two factors have led to companies using this technology to discover that their client’s turnover has increased. This new system also protects your customers from fraud, thanks to the fact that this technology complies with the harshest regulations of videoidentification.
Conclusion – What are the benefits of onboarding digital identification for the financial sector?
There is no doubt that identification in a digital onboarding process is key to increase your conversion rate and improve user experience while complying with the highest regulation standards.
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9 out of 10 banks with videoidentification systems have implemented our technology, thus allowing them to increase with a 70% their customer turnover.
It also allows for a process, that usually takes around 3 weeks, to be made in 3 minutes. Saving a lot of time for both your employees and your customers. All these factors have allowed these companies to reduce their operating costs, and even increase their asset turnover ratio.
If you are interested in changing your onboarding process from 3 weeks to 3 minutes, don’t miss this guide about the videoidentification process for Digital Onboarding.