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How smarter customer onboarding creates lasting value for banks

How smarter customer onboarding creates lasting value for banks

Recent research from Oliver Wyman and Thomson Reuters reveals that it typically takes 90-120 days to onboard corporate banking customers and involves 307 employees to work on compliance. Furthermore, according to a 2022 financial services impact report, 3 out 4 businesses have abandoned onboarding with a bank because of bad customer experience.

This whitepaper is a comprehensive guide that seeks to dissect the contemporary challenges faced by both banks and their discerning clientele during the onboarding process. More importantly, it lays bare the transformative potential of today's digital platforms and cutting-edge tools in streamlining and revolutionising this critical phase. Above all, this paper underscores that onboarding is not merely a preliminary step but a vital component of a broader strategy - customer lifecycle intelligence. This fully digital and customer-centric model promises to not only enhance the onboarding experience but also promote enduring customer relationships that translate into sustainable customer lifetime value.

Join us on this journey as we explore the future of corporate and commercial client onboarding in the digital age.

What you'll learn:

Why customer acquisition is the main business challenge for banks in 2024
How to remove the common pain points, such as repetitive paperwork and manual entry, that undermine relationships and drive up costs
How digital platforms and tools can streamline onboarding and shape customer experience
This paper lays bare a digital approach to smarter customer onboarding which the likes of TIde, Revolut and Mettle are exploiting

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Get your guide to smarter onboarding

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