Choosing the best Customer Onboarding Software

With the blurring of physical boundaries and expansion of digital footprint, businesses are facing intense competition to win over customers. It has become imperative to provide a contactless digital experience in order to gain and retain customers.

Customer onboarding is the critical first step for any business and it is important to make this process as simple, secure and seamless as possible. A good digital onboarding platform, apart from enabling customers getting onboarded in a simplified manner, also enables organizations to electronically collect and validate KYC (Know Your Customer) data which is  key to preventing frauds and complying with regulations.

Five must-haves in a digital onboarding suite

• Omni channels offering across digital mediums for customers to open accounts, provide documentary evidence, enforce cross-medium operational efficiencies and seamlessly transition between channels to holistically track the onboarding status. 

• KYC and Digital identity verification by adopting latest technologies like behavioral analytics, geo-location validation, device integrity checks or neural network based facial recognition to prevent impersonation. The product must have a robust security mechanism to protect customers from identity and financial frauds, in addition to proactively flagging documentation issues.

• Integrating multiple data touch points and systems thereby avoiding redundant capture of the same information / documents across departments, and seamlessly integrating with e-vaults for storage of documents and with CRM systems for an all-round relationship management experience.

• Customizability of product features to cater to specific and evolving needs of businesses. Depending on the customer demand and the nature / size of the business, the product should be flexible and robust. Apart from keeping the customers engaged, this aids in creating lasting bonds and improves stickiness of business relationships.

• Dashboard and analytics providing comprehensive data to measure the efficiencies of application processing and digital onboarding activities. Metrics could include onboarding completion rate, reduction in onboarding duration and number of support calls / tickets raised, that provides valuable insights to the businesses and helps them identify what is working well and the pain points.

Digid is an online onboarding platform that provides a hassle-free and delightful digital experience to businesses and their customers. Be it the intuitive navigation, reduced documentation, integrated data capture, fail-proof authentication mechanism, simplified workflows or robust compliance framework, Digid offers them all.

We strongly believe that onboarding is not a process, but a lasting first impression that we make in the minds of our customers thus marking the beginning of a successful business relationship!