Accelerate Onboarding to Provide an Exceptional Customer Experience
Deliver Impressive Digital Customer Experiences
In a digital world where everyday consumers and commercial customers spend more time on their phones and online, it becomes increasingly important to meet them where they live and work. Consumers have hundreds of options to choose from when it comes to banking or insurance, so it’s essential to provide a streamlined digital experience that will attract and retain them. For critical account types like checking/savings, insurance, loans or other services, regulations and internal policies require detailed identity verification. Traditional processes involve high volumes of complex documents and heavy manual processing that slows down onboarding.
Ephesoft Takes Onboarding to the Next Level
Ephesoft captures and processes all documents and files required for application validation and customer onboarding. Customers submit required documentation or files via their phone or browser and Ephesoft intelligently classifies, captures and extracts data to complete the onboarding process. Using advanced AI, organizations gain access to searchable, relatable data sets from onboarding documentation, which allows for a more personalized user experience and potential follow on sales.
Customer Onboarding Time
One large bank in the UK digitally transformed their corporate customer onboarding process using Ephesoft’s platform. Their onboarding dropped from 30 days to 7 days, improving the client experience.
New account creation
Identity verification
Digital document submission
AI-based document classification and extraction
Credit inquiry processing
Know Your Customer (KYC)
Anti-Money Laundering (AML) and Trade-Based Money Laundering (TBML)
Corporate and individual loans and mortgages
Taxes
Customer service and support
Contracts
Human Resources and employee onboarding
Security
GDPR compliance
Feed data into an ERP, IAM, LOS, RPA, CRM, credit, risk or line of business systems
Positive customer experience
Easier document submission by phone or browser
Faster processing and delivery of new account data increases efficiency
Decrease time-to-account profitability
Dramatic reduction of human error due to manual data entry
AI provides context and additional insight into customer behavior
Comply with and standardize regulatory requirements that affect customer onboarding globally
Data can be used enterprise-wide, especially in KYC, AML, Tax, Operations, Credit, Wealth Management and Legal departments
Increase visibility into customer risk and improve risk ratings
Reduce duplicate requests
Maintain regulatory compliance throughout the customer lifecycle
Accelerate response to regulatory change
Enrich customer profiles
Take 3 small steps to make a big impact
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