Provide resources and information to improve your clients' financial well-being.

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Providing resources and information to improve your customers’ financial well-being makes them happier and more loyal. Digital onboarding is a great opportunity for banks to provide their customers with the tools they need to make smarter spending decisions, better manage their money, and save more. This will keep them coming back for years to come.

Include links throughout the signup process to direct users to helpful tips or calculators that can help them figure out how much money they’re spending each month on things like coffee. Make sure these links are easy for users to access; don’t force them down a rabbit hole just because you want them to use another feature in your app. Additionally, BPA can help automate the processes of sending your customers the right information at the right time.

Use digital onboarding to improve the customer experience in banking by making it more convenient, accessible and personalized.
Digital onboarding is a more convenient method of customer acquisition. Customers can engage with your brand in a way that works best for them. It’s an on-demand service, meaning it fits around their schedule.
Digital onboarding is an accessible customer acquisition method because it can be done from anywhere with internet access. So you don’t have to worry about business hours or geographical limitations. The same goes for digital onboarding apps: they are available 24/7.
Finally, digital onboarding is personalized! Your customers will feel like they are getting special treatment because they will receive a tailor-made solution that matches their needs and preferences (e.g. login information).
Digital onboarding improves CX by providing new customers with a more convenient and personalized experience.
With digital onboarding, your new customers can access information and make decisions at their convenience. It’s more convenient for them—they don’t have to wait in line or drive—and more convenient for your bank because it doesn’t have to deal with the time and expense of physically interacting with customers. Digital onboarding saves time for both banks and customers, making it a win-win for everyone.

Automation such as digital process automation (DPA) can also improve customer experience in banking and work efficiency for employees.
Banks are in a tough spot. They need to be able to provide their customers with the services they need, but they also need to be able to keep up with the pace of today’s business. And that’s where digital process automation (DPA) can help.

With more and more customers using mobile apps to manage their accounts, banks need a way to ensure their services are available whenever a customer needs them – even outside of traditional business hours – while increasing efficiency and reducing costs. You can achieve this by automating processes with DPA.

Main features of ProcessMaker for opening accounts in the banking sector:

Core Integration: Two-way integration with your core solution.
Treasury Services Integration: Eliminate frustrating back-and-forth and easily integrate your business customers into your treasury services.
Account Management: Add accounts and services, signers, request additional documents, and update customer information.
IDA/IDV & KYC/KYB: Reduce the risk of fraud with background check tools.
Compliance: Stay compliant with due diligence and anti-money laundering and counter-terrorism financing tools.
Financing: Cover the last mile with immediate owner email database financing options.
Document Management and Storage: Cross the finish line by storing your documents in your EDM repository.
Real-time Reporting: Understand every activity within the process with dashboards and reports.
Market and cross-sell by providing personalized offers to your customers.
Expand your services: Open banking concept – with RESTful API, extend your capabilities with third-party integrations.
If you implement a DPA platform to efficiently manage your banking processes and workflows, then you can:

Increase your efficiency with real-time reporting capabilities across all sites;
Automate routine tasks so employees have more time for personalized interactions.
Reduce manual errors with intelligent workflow management tools.
Improve the customer experience by providing 24/7 access through self-service applications.
Provide predictive alerts based on historical data analysis rather than manual analysis that requires additional staff.
Improve accuracy with automated exception handling built into every step of a transaction.
It’s no secret that banks are looking for ways to cut costs while maintaining their competitive edge. You can use DPA to reduce the number of people involved in a transaction, which can reduce expenses related to salaries, benefits, and training new employees.