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Nine steps to successful Digital Customer Onboarding [Whitepaper]

Digital Customer Onboarding

Table of Content

A positive digital customer onboarding experience confirms to your customers that they made the right decision when choosing to work with your company.


The two main reasons why customers leave are: they don’t understand your product, or they don’t get any value from it.


Key Steps in Finance and Insurance Customer Onboarding

In customer onboarding for Finance and Insurance, we generally see the following steps:

  • Customer Identification
  • Document and Data Collection
  • Customer Vetting and Fraud detection
  • Document Generation
  • Document Signing
  • Document Archiving

These are not all the elements that are involved and processes can vary from very simple to very complex, but we see 9 recurring building blocks that allow you to implement any possible customer onboarding process.


Interested in digital customer onboarding?

The fight for a new customer has never been more difficult or costly. Research reveals a global increase in overall customer willingness to change banks or insurance companies.


This is particularly true for the Millennial segment, who have only known the digital world. They understand how easy it is to switch loyalties and don’t see any reason they should treat your institution differently than another service provider.

The competition for new customers is fierce. 


That customer wants, in analogy to his retail experience, to be up and running in a matter of minutes.


As soon as he is confronted, even online, with tedious interfaces, exhaustive question lists, time-consuming authentication processes, and yes, the request to finally meet a representative in person to literally fill in the paperwork before his account is active, it shouldn’t come as a surprise that he is quicker out than in. Result? A potential customer is lost!


So, if all this is known then why are there still so many organizations that rely on the classical methods of customer onboarding?


Read on in the whitepaper below to discover the 9 steps of a successful Digital Customer Onboarding process:


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