According to Deloitte, 38% of customers consider user experience as the most important criterion when choosing a digital bank. This simply implies that no matter how great the functionality of the bank’s digital products is, and no matter how attractive the bank’s offline offers are, the efforts are all in vain if the onboarding isn’t seamless.
In fact, one of the largest banks, which manages over USD 130 billion in client assets and listings in trade market, is one of the best examples of this trend. Though the bank was one of first to embrace digitization and offer a wide assortment of digital services to customers, this was not translating into better customer acquisition rates. One of the main reasons for this was cumbersome and paper intensive onboarding process, which was disenchanting the customers’ midway through the onboarding process and forced them to look elsewhere for better customer experience. However, everything changed with the introduction of emSigner, eMudhra’s paperless office solution. Leveraging this innovative solution, the bank was able to eliminate paper trail by using electronic signatures and offer complete digital experience throughout the workflow.
Along with improving customer satisfaction and customer acquisition rates, emSigner also ensured-
- Faster account opening and activation rate
- Higher degree of confidentiality
- Standardized operating process
- Significant cost reduction including customer acquisition cost
- Reduced logistics and storage costs
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