customer-onboarding-process-in-banking

Digital onboarding in banking is the process that new users go through to get set up and start using your product. It covers the whole journey: from initial sign-up to product activation and first use. Customer onboarding aims to deliver value to your customer as early as possible preferably in their first use. By providing a great onboarding experience, you can increase customer satisfaction, reduce churn, and boost conversions. Onboarding a new client starts the moment they get in touch with the marketing or sales team. The bank then starts the KYC verification process by collecting the necessary information and running background checks to validate the data. After all the documentation and regulatory requirements are met, the bank sets up an account and provides access credentials to its clients.