Boost Customer Acquisition with Real-Time Digital Onboarding
Overview
On an average, banks take around 1-2 days to onboard a retail customer and around 3-5 days for corporate customer (solo, micro and small enterprises). Leading studies indicate that 85% of corporate customers encounter cumbersome KYC processes leading to frustration and subsequent deflection to another bank. Customer Due Diligence (CDD) regulations involve thoroughly vetting the individual as well as business and its owners to mitigate fraud risks. Corporate customers have complex ownership structures, varying business models, and unique banking needs, calling for an onboarding approach that’s far more time intensive compared to individual onboarding processes.
Enable banks to onboard retail and corporate customers in 8-10 clicks, completing the process in near real-time.
Maveric’s Real Time Onboarding Solution
Functional Architecture
Our solution integrates with the external KYC/KYB providers along with bank’s internal applications like core banking, CRM, document management, IAM, risk management and case management. Typical implementation timelines for our solution ranges from 6 to 8 weeks.
Quick, Simple Onboarding
Integrated within mobile and web banking applications, enabling customers to complete onboarding in 8-10 clicks and upload necessary documents.
Smart Document Handling
AI-based intelligent document management module captures and verifies documents submitted by the customer and stores those documents.
Real-Time KYC Verification
Seamless integrations with third-party KYC/ KYB service providers along with video KYC and biometric authentication help to capture and analyse customer information in near real-time. Post that, our solution performs onboarding decisioning and initiates extended due diligence if necessary.
End-to-End Digital Integration
Integrates with internal banking applications like core banking, CRM, case management, risk management and access management to ensure end-to-end digital flow.
Business Benefits
Enhanced Fraud Detection Accuracy
Helps retail and corporate customers to get onboarded using self-service application and create checking and business banking accounts within few hours.
Improved Decision-Making
Simplified digital onboarding journey with minimum manual touchpoints to enhance efficiency, reduce errors, and maximize productivity.
Operational Efficiency
Elevates customer experience through user friendly and digital native onboarding journey.
Experience onboarding excellence
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The Maveric Edge
Contextualized Solutions
An innate ability to bring together domain, platform, and technology expertise to craft contextual solutions to support transformation programs.
Impactful Delivery Model
A customer centric model geared for high delivery impact.
New Service Line Development
Proven ability to develop and scale new service lines aligned to customer growth areas
Differentiated Engagement
Technical engagement led to customer value creation.
Meet the Experts
Kishan Sundar
Senior Vice President, Chief Technology Officer – Key Accounts
Arindam Ray
Vice President – Central Engagement
Supratik Nag
Vice President – Central Engagement
Ready to transform your banking ecosystem?
Contact us today to learn how Maveric’s “Real-Time Onboarding Solution” can accelerate your innovation journey and position your bank for long-term success.
