In B2C businesses, customer onboarding process is aimed at reducing churn and making customer to start using the products or services. Most customer onboarding actions are completed instantly using OCR and cognitive automation based on RPA (Robotic Process Automation) process.

Even companies that use legacy systems can also use the RPA technology for offering automated customer onboarding to improve customer experience.

In the thriving banking and financial industry, it is necessary to streamline a wide range of repetitive tasks for customer onboarding.

Challenges

  • Managing scanned documents is a tedious and time-consuming tasks for opening new bank accounts
  • Customer onboarding tasks based on data reconciliation and data extraction are repetitive and take much time of executives
  • A potential customer provides personal data, identification numbers, and government IDs, and the banker has to make photocopies of these documents. The banker can then update the same in the account manually, which is a cumbersome process
  • The entire manual process for account opening is prone to errors

Solution

  • RPA bots can manage the entire customer onboarding process efficiently
  • The banker can receive documents by email and send them to an automated, scheduled process
  • Minimal IT intervention is necessary because RPA bots are easy to adjust and bank employees can maintain customized bots with ease

Outcomes

  • The account opening process has become automated, secure, and quick
  • RPA bots can provide error-free results while eliminating the ‘Human factor’
  • The workflow gets streamlined and remains highly flexible for various operations

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