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For Financial Institutions (FIs), meeting the expectations of modern clients is crucial to maintaining a competitive edge in today’s digital age. With the rise of innovative digital newcomers, many FIs are struggling to keep pace with smooth, frictionless account opening experiences that can be completed in a fraction of the time.
Outdated legacy architecture and manual processes result in a lack of transparency across lines of business, the possibility of human error, multiple outreaches during the account opening process and no single client view, all of which impacts the client experience. Our research has shown that FIs can require 12+ touch points with a single client during the onboarding process. These labor-intensive processes are not only time-consuming with high operational costs, but they also represent a considerable risk in terms of compliance.
Banks that can leverage innovative and integrative technologies to produce streamlined processes and provide exceptional client experiences, are best positioned to meet their client’s needs and compete for new business.
Download the brochure to learn more.