COVID-19 has amplified many of the existing inefficiencies in banks, impacting smooth operations across the banking value chain. One of the many critical banking processes impacted is Customer Onboarding, the first touchpoint for customers. Customer Onboarding has traditionally been a highly-nuanced and complex process, which involves multiple sub-processes as well as departments to work together. Hence, a typical onboarding process is time-consuming and can take up to several weeks.
However, Intelligent Automation (IA), powered by Artificial Intelligence (AI) technologies such as Computer Vision (CV), Machine Learning (ML), and Natural Language Processing (NLP), has the potential to achieve as much as 60-80% straight-through processing rates in a typical Customer Onboarding process in retail banking.
This Zinnov-WorkFusion whitepaper on Reimagining Customer Onboarding with IA answers questions such as –
- What does a typical Customer Onboarding process entail?
- What are the key challenges associated with Traditional Onboarding?
- How does IA reimagine the process and enhance customer experience?
- What are the key outcomes delivered by IA in Customer Onboarding?
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