As you begin reading this blog, businesses around are driving digital transformation projects across their organizations to adapt to the changed world post the pandemic. Customers are now more digital-centric than ever, and having a digital onboarding journey in your customer journey is more crucial than ever.
Traditional Processes for Customer Onboarding
The traditional methods for customer onboarding, as preferred by most businesses in the pre-pandemic world, revolved around a very manual process involving lots of paperwork & in-person interactions. Even with processes that didn’t require physical visits, customers had to contact the agents on the phone. Both the parties were also highly dependent on the mailing and completion of physical documents. These documents would then pass through a lengthy backend process of approvals, consuming a lot of time & paperwork.
In a world completely altered by Covid-19, this method not only became outdated but also untenable. Both sides of the interaction – customer and business – are now separated by rising digital preferences, and of course by the number of people working from home.
The Rise of Digital Onboarding
Transitioning to digital onboarding can only benefit your business. By systematically managing the onboarding process, your team and customers can drastically impact your industry presence and improve your overall performance. A well-organised digital customer onboarding journey enhances customer experience, improves customer satisfaction, and enables you to be perceived as an experienced trustworthy service provider.
Strong Brand Image
An onboarding process that is fully digital and seamless will certainly enable new customers to perceive a positive impression of your brand. They will find you a professional institution that is familiar with how to speed up processes and is up to date with the latest ongoing trends. This will allow you to outdo your competition, especially those who have not yet implemented digital onboarding solutions.
Another reason to adopt digital onboarding is to offer your customers a unique sense of belonging. Since the remote world is still in practice, customers appreciate the feeling of being socially accepted. Digital onboarding involves becoming part of a group, forum or talking via live video call with the company’s representative. Thus, creating a personalised digital experience for the end-user so they feel important.
Reduces Virtual Onboarding time
Going digital with your solutions will enable you to drastically cut the onboarding time. This will get your customers to consume your services faster and eventually contribute to your business revenue.
Ultimately, this transformation will elevate your business to a growth mode, simply because you will never have a dearth of customers. Since you will be able to onboard the customers faster, this will result in rapid consumption of services, thereby contributing to the overall revenue of your company.
The Big Ups of Collaborating Live Video with Digital Onboarding
The moment you enable live video for your digital onboarding process, you are not only bringing personalisation but also optimising cost, performance, reliability, and security. With this, you deliver an end-to-end seamless onboarding experience & more immersive customer engagement. Using live video in the onboarding process can also help detect fraud by making a face comparison between ID data & live video of an individual.
Insurance companies also need a seamless all-digital experience to ensure every touchpoint, ranging from policy purchase to filing claims and receiving payouts. With EnableX Live Video, they experience benefits like providing an optimized customer journey, increase in productivity and fastened process due to minimal intervention of humans.
Summing It Up
For different businesses to pivot and keep pace with customer demands, the onus is now on the company stakeholders to consider digital innovations that will help them deliver customer convenience, while ensuring safe and secure transactions. Those who successfully deliver this will march ahead to lead the industry’s transformation efforts into securing a future that is digital-led.
Currently with EnableX one of the largest fintech companies in India has been onboarding over 25000 customers daily.
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