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Customer Onboarding: learn how to make this process fully digital

Companies from different segments have followed the constant evolution of technological advances, including customer onboarding in digital format. A process can be applied, from hiring and requesting new services to registration updates.

In addition to bringing customer ease, digital customer onboarding can accelerate new user acquisition. 

What is digital customer onboarding?

Digital customer onboarding is nothing more than the initial process of capturing and registering new customers or updating the institution’s active customers to obtain new products or services digitally, with technology as the main ally to facilitate and streamline each step of the process.

The main objective of this process is to make the relationship with the customer more fluid through the digitization and automation of the entry process, thus attributing manual and repetitive activities to machines and, the most strategic part, to humans.

Customer onboarding in digital has significantly changed different segments, with the financial market as the highlight in the conversion rate of new customers. In addition, this process has also contributed enormously to fraud prevention.

Benefits of digital customer onboarding:

It is not just the financial market that gains from the digital implementation of customer onboarding, despite being an example in this practice. 

The benefits range from improved customer relationships to increased productivity in operations and processes. 

Check out the main advantages below:

Reduce customer acquisition cost

Technology is an excellent ally in reducing costs, such as costs with printing documents and notary processes. In addition, it optimizes employees’ time, who can dedicate themselves to more strategic tasks of the company.

Security and fraud prevention

Digital customer onboarding not only reduces process failures but also identifies fraud threat patterns faster and more accurately, applying prevention measures quickly.

 This occurs through technologies such as Computer Vision (or Visual Recognition), which identifies document irregularities.

The SDK guides the user in registering the selfie, the Face match that verifies the identity, comparing the selfie and the document, and the Optical Recognition of Character (OCR) that allows the extraction of information captured from an image. 

Enables greater scalability

Digital onboarding also allows for greater scalability; processes are executed faster but without increasing business costs and optimizing production time.

Thus, by abandoning manual commands and digitally investing in the onboarding process, the company can accelerate its processes by investing in algorithms and digital systems, eliminating bottlenecks, and promoting greater agility.

best customer service

Automation improves the customer experience as it offers more objective interactions. For example, by making the account opening process available online or releasing access to the service in a few minutes, the customer finds the solution to their pain and solves their problem quickly and efficiently.

Greater predictability

The bet on digital has the advantage of having the help of tools to monitor what we call customer health through the monitoring of metrics. This helps track interactions to see if there are any product or service abandonment risks.

Thus, it is possible to plan so that the institution or company is not taken by surprise. Analyzing the necessary improvement points to optimize customer service is also possible.

How to do effective digital customer onboarding

If you’ve come this far, you must wonder how to apply digital customer onboarding in your business effectively. That’s why we’ve prepared some tips that can help you. Follow next.

First, knowing who your user is and what he is looking for when hiring your product or service is essential. Thus, it can offer the customer a more pleasant and practical experience.

An important tip is strengthening this first contact through social accountability mechanisms, streamlining registration and authentication with just one click.

 During onboarding, it is also essential to measure customers’ progress, who are duly informed about the steps already taken. The application of checklists can help in this process.

This helps keep the customer engaged so that they go through their entire journey to the completion of registration.

Clear metrics and quick results also help to have a thriving customer experience, measuring strengths and those that need improvement and generating greater trust, thus ensuring a good experience.

This entire process is also known as First Value, one of the leading indicators used to measure audience engagement and the onboarding process results.

How technology can help with customer onboarding

The first step in digital onboarding is capturing customer data, using apps for phones and tablets, or using a computer. After sending all the data, a process of analysis and verification of documents and information begins.

This is a practical example of how digital onboarding can help speed up a process that would otherwise be 100% manual.

Follow and learn more details about how each stage of customer onboarding works and how to apply it effectively:

1) Identity verification: trained cognitive engines are used to perform automated comparisons between the face of the identity document and a photo of oneself (selfie). 

The selfie is performed under guided guidelines to prevent fraud. The technology recognizes unsafe situations, such as eyes closed, averted gaze, people lying down, or a second person in the image. 

2) Document Validation: The technology can also recognize document-related deviations such as unreadable, cropped, or torn documents. Therefore, following the rules engine, the request may be rejected if it does not meet the minimum requirements. 

3) Capture/Extraction of Document Data: Through OCR technology, when the user sends a document, it is possible to transform images into the text; that is, you can extract information from photographs sent from records such as CNH or RG, collecting all the necessary data and storing it in a content management platform. 

4) Data verification: these are rules determined for automatic validation by the system, such as correct form filling, missing documents, errors, inconsistencies, and validity, among others. 

5) Additional Checks: inquiries to credit history, other institutions, etc.

6) Effectiveness: it is the completion of the digital onboarding with the new customer’s adhesion or the beginning of the new product or service.

In addition to the items mentioned, the technology in onboarding also allows a background check, which is nothing more than the background check of new customers.

 Artificial Intelligence, Machine Learning, and Big Data Analytics allow cross-referencing information with relevant databases.

If the technology finds inconsistencies in the process, it is possible to refer to specialized analysts to do the human analysis, approving or pending onboarding requests.

Digital onboarding applications

Financial market

  • Opening of accounts.
  • Registration update and request for new services.
  • Mats for granting credit (payroll-deductible, real estate) to non-account holders.
  • Consortium mats.

in other markets

  • Onboarding of new employees (HR processes).
  • Onboarding clients in companies from the most diverse segments, such as services and education.

Want to know more about how to apply digital customer onboarding at your organization? Request a Call from our experts.

Jack henry
Jack henry
Hi, I'm admin of techfily.com if you need any post and any information then kindly contact us! Mail: techfily.com@gmail.com WhatsApp: +923233319956 Best Regards,

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