The process of traditional account opening requires the customer to visit the branch, along with the documents and stand in queue, sometimes for a longer period of time. One of the drawbacks, besides long time, is the rejection of the form after a week due to improper document or sometimes due to no matching signatures. Such drawback adds to the mental trouble of the customer.
adStringO Software came up with a solution – 7 Steps to Digital Account Opening. As the name suggests, the process involves 7 easy steps to an account opening within minutes, yes minutes! Let us look at the 7 Steps to Digital Account Opening, step by step, in brief.
The 7 Steps to Digital Account Opening –
•Step 1: Scan/Metatag/Mobile capture
This is the first process and it requires the customer documents to be captured using mobile phone camera. The agent can scan & upload the document from on location or branch.
•Step 2: Quality Check of Digital Scan Application
In Quality Check 1 the uploaded document is checked for errors. If any error found;
poor visible quality of the document,
improper scanning, etc.
In such case the document is sent back to the branch for re-verification.
•Step 3: Data Entry
The customer document (application form) details are filled.
•Step 4: Final Quality Check
Quality Check 2 involves a thorough checking of the filled form and the customer documents again. If any errors found, the application form is sent back to the branch for re-verification.
•Step 5: Discrepancy standing/Audit
Discrepancy standing order is made available for the customer.
•Step 6: Account Creation/Mail
Account of the customer is created. Customer is notified about this by a mail or message or both to the registered email id or mobile number.
•Step 7: Card & Account Hard Copy dispatch
Card and Account hard copy & other documents are dispatched to the customer’s address as the final step.
This would certainly change the account opening for all the BFSI industries. If you are opening an insurance account, a saving or a salaried, you will be able to complete the entire process in minutes. Imagine applying for an account opening with any bank and being able to operate on the account same day, revolutionizing, isn’t it? Help customers get the best solution to open an account.
Another benefit that going digital provides is the possibility to operate from anywhere, anytime. BFSI industries can operate in over 6 lac rural areas without having a branch, reaching a huge potential customer base. Go branchless, go digital!
On board the solution of 7 step Digital Account Opening to deliver an enhanced experience to your customers.