Blog / Strategy /

Key steps for a successful onboarding process

Key steps for a successful
onboarding process

Louis Badin

Product Owner Digital Banking assistant

Customers expect a fast and seamless digital experience from companies. Every generation has greater digital expectations than the previous, and those who have most recently reached adulthood are no exception. Some will expect the opening of a bank account to be as simple as opening a social media account when it requires greater amounts of personal information and documentation. As a matter of fact, new generations - Gen Z especially - are the hardest to engage. User Experience is therefore a key performance lever. At Worldline, we want to provide a 5-minute onboarding process, with a top guarantee of security, a fast integration to your systems as well as modularity and flexibility adjustable to your needs and wants.

ID proofing

Initiating a financial service application requires a great ID Proof. The individual provides their personal data, and as required by the regulator, a piece of biometric information such as a fingerprint, face scan or both. The process allows the individual to be easily and securely identified with the mobile application digitally scanning the client’s identification, which captures data in the machine-readable zone. This step goes through various sub-steps in this chronological order: document verification, physical verification, due diligence and risks scoring, all of them acting in a common goal aiming to establish customer profile and confirm customer solvability.

Electronic signature

Once customer identity is proved, the next steps are contract edition and electronic signature. A customized contract is edited, considering the product the client selected and its personal data. Thanks to our own certification authority, we offer various types of electronic signature with a probative value. Thus, the client signs its contract. All his journey is traced thanks to the end-to-end traceability of our workflow.

Business management

On the journey of this process, onboarding a customer must serve the company business. Having the contract signed is not enough to monitor the activity. Once the contract is signed by the contractor, it is stored and then archived. The archiving and preservation of the documents can vary in time depending on the needs. This archiving has a probative value, meaning it is acceptable in a court of law. Besides, statistics are realized in order to continuously improve the service and better understand its use.

Moreover, a crucial point when it comes to an onboarding service is the integration to existing systems and infrastructure. The state-of-the-art API architecture of our product – as part of Open Banking evolution - guarantees an easy integration to our clients existing systems.

Another useful tool that can be used is A/B testing. It allows the service various scenarios depending on the customer profile. For cross-countries services, ID proofing step implies various ID brokers and identity verification partners such as FranceConnect, itsme, PostIdent, electronicID, IDnow, ubble, etc.

You have a question about customer digital onboarding? Feel free to contact us