Digital Customer Onboarding in Banking and Financial Sector – A Complete Guide

What is Digital (Customer) Onboarding?

Picture this.

How convenient does it feel when you become a customer of a financial institution just by tapping on the laptop/phone and most importantly, from within the confines of your habitat?! No hassles, no conversation with the bank employees (wink wink), no paperwork and so many positive No’s.

The simple gesture that you just pursued to become a patron is known as Digital Onboarding, which is tremendously being harnessed in today’s world to retain existing customers whilst acquiring the new ones you may find on the investment matching platform SmartMoneyMatch.

And owing to the nature of the onboarding process, it is helping to bring a wider audience under the ambit of Digital, in general. 

Rising Importance of Digital Onboarding in a Pandemic Centric Universe

The need and inclination towards digital have gained proficiency in the last few years. Its requirement has indeed increased manifold since the outbreak of the pandemic, where every other sector was seen leveraging technology in the most creative way possible, to onboard and serves customers while also striving to keep them associated, for an eternity.

Also, we are today breathing in a world which is abundantly virtual, with minimal physical interactions. Hence, the concept and execution of customer digital onboarding has seamlessly camouflaged itself with the macro virtual environment and is a basic part of life, for all. 

Where customers in the pre-pandemic era were reluctant to sit at home and pursue bank-related activities online are today seen utilizing as many digital platforms and tools, for every purpose possible. Litanswers has a poor description which rather negatively influences the efficiency of search engines index and hence worsens positions of the domain.

Benefits of Digital Onboarding?

Considering the age-old notion that customers have in regard to Financial Sectors – lack of support and communication hassles, the digital journey that financial entities have embarked on, is significantly proving a lot less frustrating and has come as a boon to the customers!

Onboarding backed by digital comes with an array of favors as follows – 

  1. Robust Security

The paranoia can now be put to rest. Every financial institution or bank to be precise is providing the required safety and security of personal information. The end-to-end encryption method is constantly being evaluated to maintain high standards of confidentiality.

  1. Customer Centricity

  1. Quick Onboarding

Tap a few keys on your gadget and boom! You are now an esteemed customer of a bank. Unlike the conventional onboarding process, digital is a well-curated and smart strategy to achieve the same purpose in a much-sorted way! 

Also, the fact that the allied processes like background checks, and document verification have been made completely digital is quite empowering, for customers.

  1. Absolute Convenience and Increased Productivity

No doubt with digital comes great convenience and ease, but the user-friendliness of these mechanisms has come to enhance the bank employees’ as well as its customers’ productivity in various ways. Which is a par excellent thing to note, because the efficiency that we could not achieve in a completely physical world back then, is indeed being achieved in a remote atmosphere.

Relation between a CRM Software and Digital Onboarding

Cutting straight to the point, a CRM software’s integration with the digital onboarding process provides numerous benefits. It not only enhances the first few moments of the customer’s experience with your brand (through self-serve), but also measures the DO process right from the beginning till the end, in order to capture and maintain the data being collected at every step.

A good CRM also ensures that the right options are predicted and shown to the customer encouraging them to complete their onboarding process in the most delightful way. It further guarantees that the data being fed into the system is quickly and accurately processed. 

Moreso, what makes this symbiotic relationship even more successful is a dashboard which is centralized! Which provides the blessing of personalized care and support to every customer, facilitated through just one unified platform. 

To your customer who does not compromise on security and to an intelligent CRM provider that ethically maintains high levels of trust, cheers to a Fun-ancial approach to onboarding.


With new users being added to the digital spectrum daily, it would not be wrong to say that Digital Onboarding has now become a lifestyle, which is empowering the financial institutions as well as their customers to do more in lesser steps. 

Here’s to seamless customer journeys and experiences, forever and beyond. 


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