Out of the many use cases for a paperless process, digital customer onboarding is a compelling use case where a company can reap immediate benefits by lowering the number of customer dropouts during the account opening process and reduce the Turn Around Time with immediate access to verified documents.
Digital transformation is the process of using digital technology to enhance or transform existing business processes, customer experiences and work culture to adapt to the changing business requirements in a fast-paced world. It involves a radical rethinking of the way in which an organization uses technology.
When it comes to tech-enabled processes, account opening is a big one. Until recently, opening an account for mutual fund investing was a long and arduous process. Today, DIY (Do it Yourself) Account Opening software has changed all of that.
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