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How to Digitalise Client Onboarding and Improve Customer Experience

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Financial institutions are improving the client onboarding and the customer experience, but could do better by developing enterprise rather than point solutions, gaining a 360 view of each customer, and working towards digitalising the client lifecycle.

During a recent webinar hosted by A-Team’s Data Management Insight and sponsored by Fenergo, a poll question revealed that 50% of the webinar audience was not satisfied with and was working to improve the client onboarding and customer experience it offers, 37% was quite satisfied and working to improve, 8% quite satisfied, and 5% not satisfied at all. Countering this, another poll questioning how organisations view digitalisation of the client lifecycle in terms of remaining competitive, showed 64% of the audience deeming digitalisation essential, 20% somewhat important, 12% just one factor of remaining competitive and 4% saying it is a ‘nice to have’.

Bridging the gap between a lack of satisfaction with existing client onboarding and the need for digitalisation, the webinar discussed how to optimise entity data management and create golden source data that can span the customer journey, barriers to digitalisation – namely cost, culture and skilled resources, technology solutions, and the ultimate benefits of successful digitalisation.

The webinar also provided a step-by-step guide to digitalising onboarding and plenty of advice for practitioners from speakers including Was Chaudry, head of UK private banking onboarding at Credit Suisse; Manash Banerjee, global head of entity reference data and technology lead for client lifecycle management rollout at Nomura Securities, and Niall Twomey, chief technology officer and co-founder at Fenergo.

You can listen to the webinar here.

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