Pandemic Powered Digital Transformation
Until 2020, methods and experiences of onboarding a customer saw steady but slow evolution. COVID forced many to rethink the way we do certain critical activities, leave alone onboard a customer. The pandemic was a catalyst for the banking and financial service sector. When it came to customer onboarding, technology stood up to the challenge and delivered. With digital customer onboarding and video KYC now becoming norms, banks onboard customers faster than they did even 3 years ago!
However, with great power comes great responsibility. With digital onboarding platforms cropping up everyday, customer expectations and evolving regulatory compliance needs immediate addressing. We, at Celusion, have made giant strides in the area of digital customer onboarding. Through AI ML, we have dealt with problems of customer dropouts and even compliance. We have also simplified and smoothened the customer journey by enabling they auto-fill identity and address information from images of address proof with an accuracy of 99.5% using OCR technology to auto-fill details from registries and Customer Information System (CIS). This enables the customer to start his investment journey in under 15 minutes! Onboard also supports multiple methods of digital customer identification such as Aadhar, PAN and DigiLocker. The platform also prevents frauds and reduces objections through AI-ML powered face detection, liveliness check, and face matching, to name a few. Most onboarding platforms require intensive and large-scale digital transformation. Irrespective of the scale of the organization, this is suboptimal to say the least. Onboard enables you to plug into existing ecosystems so as to not disrupt any existing functions, only fortifying them.
As mentioned before, the need of the hour is a simple, and smart onboarding platform that also enables organizations to lower onboarding time and cost to onboard, and increase their rate of onboarding. Would you like to give our platform Onboard a try? Simply call us for a demo.