OnboardWise™: Better Data, Faster Turnaround, Differentiated Experience

Case for change

Customer preferences and behaviors are constantly evolving. The ease of technology today is changing the way organizations interact with their customers. For financial institutions to be competitive, it’s important for them to offer their customers with experiences that are truly differentiated in function and impact, right from their first interaction.

Typical onboarding processes today suffer from:

• Manual, paper-based tasks spanning the client onboarding lifecycle.
• Slow time to revenue—often up to four months—accounting for reams of paperwork and page after page of complex legal language.
• Opportunity costs as a result of processing delays.
• Information risks due to multiple hand-offs between different teams and inability to control related security and privacy.
• Operational risks via multiple iterations between clients and financial institution workforce leading to possible repetition, confusion, and errors.

OnboardWise addresses these challenges by providing:

• An all-digital, end-to-end platform for client onboarding and related transaction processes, including digital signatures and document sharing.
• Innovative, human-centered design of the end user interface to offer an easy-to-follow, guided process for requesting and validating information.
• Dynamic client-specific dialog that translates complex legal and regulatory requirements into everyday language to invite and capture timely, accurate client responses for record keeping.
• An algorithmic engine running in the background to continuously analyze and interpret client responses to determine the next set of questions for input.
• Configurable workflow that business users can tailor as needed to align with changing company policies, regulations, and other mandates.
• Efficient integration with Salesforce sales and servicing platforms.
• Access anywhere design with consistent information availability across devices.
• Customizable visuals to include corporate branding preferences.

Operational advantages

Simplify and accelerate back-end processes while protecting client information security and privacy:

• A centralized platform operating with Salesforce customer relationship management for multiparty collaboration, and client lifecycle management, including initiation, approvals, risk review, and funding.
• Validation of existing information vs. request for inputs to reduce errors and duplications.
• Digital document management capabilities including exchanging, bundling, virus scans, and e-signature.
• Active monitoring for application status and customer preferences with key insights through site analytics, metrics, and dashboards.

We expect to see many clients sharpening their brand portfolio and service delivery while making changes to their operating model to accelerate innovation, decision making and responsiveness to the ever-increasing demand of customers and consumers. OnboardWise delivers on this premise with an end-to-end approach of managing the customers’ and our clients’ digital priorities in sync.