Financial services firms are on a digital journey across the globe, and some parts of this journey have been more seamless than others.
Firms are increasingly aware that streamlined, pain-free onboarding builds the foundation for a successful client experience throughout the duration of a client’s lifecycle. Primarily, a digital experience adds convenience and competitive service for the client.
Despite ranking highly on the agenda for all financial institutions, not all firms have been able to achieve a fully digital onboarding process. A ‘userfriendly and frictionless’ onboarding experience may be the ideal, but it means overcoming great technological, infrastructural, cultural, regulatory and commercial hurdles to achieve it.
This research report by Finextra, in association with Box, is based on several leading industry voices on the subject to explore the current status of onboarding digitisation journeys. Experts share their insight on the current status of onboarding projects and why the need to evolve is more important than ever.
The paper explores how onboarding pain points are increasingly frustrating digitally-native clients, the role that data and information management play in meeting smooth onboarding goals, and efforts being made towards what the industry describes as onboarding nirvana, based on a 360-degree view of the client.
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