In recent years, the onboarding process has gained importance in the financial sector as a strategy for contracting financial services and products remotely. How do financial companies use digital onboarding? Find out!

The capacity of onboarding lies in the response to the security requirements of the sector and the agility as a result. Prior to this boom, onboarding responds to the needs of areas such as human resources, for the hiring of new collaborators, administrative processes and for the subscription of new users.

We will discuss an onboarding plan that will help you analyze at what stage you can begin to implement an onboarding process as a strategy to drive growth for your business.


5 fundamental steps 


Build a collaborative structure

Digital transformation begins within the organization. And this happens when a traditional team is integrated with a digital one. But there must be a leader or representative for this powerful challenge.

Make sure you assign a representative who can focus on achieving the goal: digital customer onboarding. The profiles that appear for this task are: Director of Digital Transformation, Director of Innovation or Chief Information Officer.

Once the lead is assigned, the next step is to build a collaborative structure to implement, manage, and execute digital onboarding with the end customer.

Define project objectives

Identify setbacks in the processes of contracting products and services of your business to establish objectives or intelligent goals. These are specific, relevant, can be measured and achieved within certain deadlines. 

Among the objectives that those who lead the way in digital transformation through onboarding were able to achieve are:

  • Simplify the traditional onboarding process.
  • Carry out the remote onboarding process.
  • Create new channels or points of contact with your customers.
  • Obtain an electronic file with biometric data.
  • Unify the hiring process from a single application.
  • Improve the customer experience in the integration process (KYC/AML).
  • Reduce levels of fraud due to identity theft or document falsification.
  • Streamline the identity validation process with government institutions.
  • Respond to new regional regulations such as the Circular Única de Bancos (CUB).
  • Integrate 100% digital onboarding into applications or platforms safely.
  • Comply with regulations, standards or policies in a specific region to perform digital onboarding.

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Invest in the best technology

The fundamental task of the leader in digital transformation is research. This contemplates the characteristics of the software, implementation, acquisition of tools to carry out the process and investment. The profile that makes the decisions considers the reduction of costs to unify the processes that are carried out in a traditional way. The same software can simplify document validation in real time, validate identity with biometric data and store electronic records with the following biometric data: 

  • Life test
  • fingerprint validation
  • Onboarding closure with digital signature
  • Comparison of signature with official identification document
  • Comparison of official identification document with face in real time
  • With the help of technology, the digital onboarding process can represent a considerable reduction in expenses. Another benefit that you should look for before choosing the right software is the possibility of onboarding in less than 10 minutes.

Test the process

According to your budget to invest in technology, time and capacity, carry out implementation tests. This will help you to measure in the short term, the results and adaptation of the onboarding process as a new strategy. The result will be making the decision to expand your business nationally or internationally. Consider the provisions that you must comply with for face-to-face onboarding. As an important note, Mexico seeks to implement the regulations from face-to-face onboarding to digital onboarding. Don't lose sight of the advances in Mexico to make the process a safe practice anywhere in the world. We recommend you invest in comprehensive technology that allows you not only to carry out gradual implementations, but also to expand your strategy with the same software. Get more with less and with the quality that the current context demands. 

Improve the digital onboarding process

Once the testing process meets your objectives or you have obtained the results in the expansion of your strategy in person or remotely, it is time to improve. Consider the maintenance and constant improvements of this technology in the banking sector. You can think of: Highlight the value of having software that includes real-time video conferencing or video recording for future consultations and that, in addition, offers you product-solutions to validate identity or sign the contract with your new client or partner.Keep in touch with your client via email or WhatsApp. It can be to welcome you, share information about the process or to invite you to create a community on social networks and keep you up to date with your products and services.Create tutorials for your clients to use remote digital onboarding.Create loyalty strategies such as contracting digital accounts or benefits to make online purchases.Promote the paperless culture in your company to reduce the use of paper in contracts. Add, in addition, the benefits in the reduction of time and expenses for transfer. Start a new customer onboarding plan with Onboarding 3.0. As you can see, an onboarding plan can start at any stage:

  • Build a collaborative structure.
  • Define project objectives
  • Invest in the best technology
  • Perform process tests
  • Improve the digital onboarding process

Analyze if what you are looking for is to improve the digital onboarding process or take the first step; define who will be in charge of carrying out the project until the objectives are achieved.