With clients demanding seamless digital experiences akin to their daily lives, a seamless and modernized onboarding process has become an absolute necessity for commercial banks to thrive. Your client’s first interaction with your bank is most often through the onboarding process. Creating a flawless, streamlined experience to establish trust and foster a strong client relationship from the outset is crucial.
In a constantly evolving market with increasing competition from unconventional lending sources, optimizing operational efficiency, elevating client experience, and maximizing wallet share has become a top priority for commercial banks. A simplified, intuitive onboarding process is also critical in adhering to regulatory requirements and reducing the risk of non-compliance penalties.
Our digital onboarding solution is designed to enhance the onboarding process — beyond just funding and loan maintenance. By providing recurring services in a seamless manner using the power of process automation, relationship managers can focus on fostering deeper commercial relationships with their clients.
By incorporating a comprehensive suite of commercial services (e.g., trade finance, foreign exchange, equipment leasing, and merchant services), we aim to simplify and scale the onboarding process while providing an improved client experience by creating full visibility into the onboarding process and leveraging automation for scale and repeatability.
Improve collaboration efficiency through Omnichannel Routing and Case Teaming. Create additional cross-sell and upsell opportunities by increasing visibility for relationship managers and service agents.
Eliminate delays to business transactions, cash flows and loan fundings caused by piecemeal documentation requests, duplicate data entry, paper based or manual processes and prolonged onboarding. By streamlining your onboarding process, give your relationship managers more time to build deeper relationships and expand wallet share.
Enhance document generation, tracking, and approval of consent and disclosure documents, reducing risk and ensuring compliance with regulations such as AML and KYC. Increased process and client visibility creates a strong foundation for comprehensive risk management.
Meet your client’s needs and increase customer satisfaction by creating a frictionless process that is efficient and includes self-service capabilities, clarity into the process and progress and secure document exchange.
A significant portion of a bank’s operating costs is devoted to complying with regulations and mitigating risk. By automating low-value repeatable processes, these costs can be reduced and manual workload can be optimized.
Snowflake features data governance to protect customer data, ensuring regulatory compliance. It enables data analytics to reveal patterns, trends and highlight customer segmentation based on behavior, demographics and other attributes. Additionally, Snowflake can also be used to automate certain aspects of the onboarding process, such as data validation, compliance checks and document management, making the process more efficient and faster.
We help financial services businesses in banking, wealth management, and mortgage create compelling, intelligent experiences to attract and retain clients and achieve ROI on data science investments in the process.
Keep up with current trends in data visibility, agility, and analytics in the commercial banking industry with insights directly from industry experts at Salesforce, Fulton Bank, and Atrium. Watch and learn how the right analytics strategy and tools can empower commercial banks and lenders to take immediate action on insights surfaced within Salesforce to create personalized experiences that attract and retain customers.