Good customer experience is incredibly valuable, and technology has a very important role in achieving customer experience goals. Now a days customers of all age groups especially millennials prefer to avail digitised services like digital onboarding , online payments and so on. To ensure grand customer experience it is equally important that onboarding journey of your customer must be safe.
Why is safe customer onboarding experience is essential? Customer onboarding starts with signup .It is a very lengthy process . If not implemented properly it may cause lot of inconvenience to customer resulting in turning down the service proposal. This adversely affects the organisation and its
product value. That is why is it essential to implement safe customer onboarding solutions like digital onboarding.
Benefits of safe digital onboarding
Let us see some benefits of digital onboarding services
- It ensures good customer engagement
- It aids in high team coordination
- It increases revenue
- It enhances customer loyalty and lifetime commitment.
- It is simple and painless
- Boost new customers confidence creating consistent experiences
- Digital onboarding is cost effective and time saving
- It is more efficient than traditional onboarding.
- It can be personalized easily.
- It is easy to adapt
- It is touchless.
- It is customisable.
- It is scalable and pluggable to any systems
- It is secure
- It requires less human intervention
It is accurate
It is seamless for end user
It helps in effective customer acquisition
Easy Integration with third party APIs for verification of data
It is Industry compliance.
Customers can use it easily
Flexibility to onboard at the convenience of customer
It is immediate and fluid process
Integration of digital onboarding processes can increase conversion rate exponentially.
Digital onboarding is faster than traditional onboarding. It takes just a few minutes. Whereas traditional onboarding takes months.
- It helps in fraud detention.
- It gives better end user experience.
To onboard customers digitally there are several digital products in vogue for all industry types like finance, insurance, gaming, matrimony and several others .
These digital products are in high demand especially in finance industry where there is increasing demands of retention of existing customers and attracting new customers ensuring safe customer onboarding.
Some of these digital products are mentioned below for your reference
Digital onboarding is better than manual onboarding that is lengthy, tedious and complex process. But it has certain disadvantages like
- Unavailability of customer for document verification for KYC initiatives,
- Types of documents required for verification can vary from one institution to other.
- Not all customers are digitally educated to get successfully onboarded online.
- Poor Network connectivity in remote areas poses challenge
- Compliance issues
- Security issues
- Identity verification
- Needs awareness around digital tools
- Lot of personal information is required for customer onboarding
As we know advantages of digital onboarding outweighs its few drawbacks. We need Digital onboarding along with artificial intelligence and machine learning to create great customer experience .