Digital account opening transformation

When our client wanted an expert partner that had the ability to deliver Cloud Solutions but also wanted a partner that could provide value and knowledge within the KYC/AML domain

The Brief

The bank wanted a digital account opening solution. The existing process is a very manual intensive process, where the prospective customer visits the bank for account opening.

The Solution

The solution delivered and integrated with the bank’s existing accounting and core systems, with the focus on security, automation and extensibility. Automated the KYC/AML/Credit & Fraud check, while integrating with a wide range of partner solutions and providing internal and external customers real-time visibility into the onboarding dashboard and client lifecycle stages and achieving greater efficiencies in the customer journey

The Outcome

The solution raised the bank’s deposits by 80% and substantially increased its profitability. During pandemic customers can use bank easily from their mobile app and reduce health risk. They can open accounts and make payments without visiting the branch