Financial Services Account Opening Digital Transformation
Financial Services account opening digital transformation is a foundational capability that banks, credit unions, insurance firms, and financial institutions need to level the playing field with the emerging startups and the leaders. The debate is no longer about whether or financial services firmsneed online account opening. That ship has sailed.
Today, the question is how best to make the online accounting opening, which hitherto was an online replica of an offline process, into a dynamic, digital sales capability.
Customers of financial services firm, the world over, have adopted the smartphone as the means and the end of information to transaction and post purchase lifecycle.
Omnichannel optimization has become a fundamental requirement of online account opening.
Let’s look at some of the best practices for formulating a strategy and implementing the transformation of accounting openingcapability for the digital age.
Mobile First, Digital First:
Indeed, for digital account opening capability mobile first and digital first are no longer buzzwords. They are the in vogue realities.
Today, just creating a website form for accounting opening is not enough.
Thinking mobile first, click first, and digital first is a change in culture, a shift in mindset, and a philosophy of making customer delight as the centerpiece of everything you do and don’t do.
How to enable Account Opening Digital Transformation?
Rethink Everything: Form and function go together and sometimes form is the function. Don’t just ask how, but why? Moreover, why not?
Reengineer Processes: Eliminate every step that does not translate to an exceptional user experience.
Revamp Support: The call centers, reps, and agents should be able to assist customers in every situation, on all devices, at every channel.
Rearchitect Systems: Digital enablement will not work with just lipstick on a pig. Your systems of differentiation and systems of innovation need to be the state-of-the-art.