COB Solution Demo
-
Upload
marc-combes -
Category
Documents
-
view
222 -
download
0
Transcript of COB Solution Demo
-
7/28/2019 COB Solution Demo
1/27
Kofax Customer Onboarding Demonstration
Solution Enablement Specialist
mailto:[email protected]:[email protected] -
7/28/2019 COB Solution Demo
2/27
Today in Central Europe
2
-
7/28/2019 COB Solution Demo
3/27
Customer Onboarding Creating Those Sticky Customers
3
11%
20%
6%4% 3%
1%
9%
14%
11%
12%
4% 6%
3%
9%
0%
5%
10%
15%
20%
25%
30%
35%
18-25 26-34 35-44 45-54 55-64 65 & Above Overall
Extremely Likely
Likely
Likelihood to Switch Primary Banks to Get Access to Mobile Banking
Among Smartphone/Table Owners Q2 2012
Q2 2012. N= 242 512 435 337 190 160 1,876
25%
31%
17%
9%7%
3%
18%
Question: Have you used mobile banking (i.e. have you accessed balances, paid bills, or made account transfers using your mobile device to access a mobile bankingwebsite or using a Mobile device application)?; How likely would you be to change your primary banking relationship to get access to a mobile banking service?Note: Number may not add due to roundingSource: AlixPartners Mobile Financial Services Tracking Study Q2 2012
-
7/28/2019 COB Solution Demo
4/27
Timeliness in Customer Onboarding is Key
4
0%
2%
4%
6%
8%
10%
12%
0,0%
0,5%
1,0%
1,5%
2,0%
2,5%
3,0%
3,5%
4,0%
0 1 2 3 4 5 6 7 8 9 10 11
Attrition %
Cross-Sell %
Opportunities and Risks in Onboarding Abound
Retail Bank ExampleAttrition & Cross-Selling Rates among New Clients
(Retail Bank)
Source: 2008 Harland Clarke client case study
New CustomerAttrition %
New CustomerCross-Sell %
Onboarding Emphasis Months since Onboarding
-
7/28/2019 COB Solution Demo
5/27
Typical Customer Onboarding Cycle
5
Source: - Virtusa
Behind the scenes onboarding processes and system frequency lack business agili ty
Challenges Impacts Results In
Inefficient and disjointed process Onerous application processes Long Average time to onboard clients
Loss of fees
High internal Cost to support
Longer time to market to add newproducts
Diminished competitiveness
Siloed customer, account and productinformation
Contradictory information creates confusionChallenges to support multiple products
Need to support multiple channels Poor and inconsistent client experience
Multiple systems, manual & paperbased workflows
Inability to track progress and manage the process
Increasing Regulatory environment Requires flexibility in system and processes
Line of Business Systems haveembedded entitlements
Entitlements are difficult to setup and support easilyand consistently across applications
Deposi t Credit Card MortgageComm
Banking
Treasury &
SecuritiesBrokerage
MailDirect:
Broker/Branch/Advisor Call Center Web/Mobile
-
7/28/2019 COB Solution Demo
6/27
Customer Onboarding Best Practices - Forrester
6
Front end:Call center
Fieldoffice
Frond end:Web
Front end:Mail
Repopulation
Cross-selling
Document verification
Business data validation
Reference check Credit
Check
Credit riskassessment
Application decision
Welcome kits
Barcoding
Customer communication
analytics
Insurance Retail banking Loan management Citizen support Consumer products
Legacy system applications
E-forms RIAs Distributed capture Fax servers E-signatures
Point of service ECM components
Common productcatalog
Document output for customercommunications management
Business processmanagement
Business rules engine
Client-centric enrollment layer
Source: Forrester Research, Inc.
Best P ractices: Customer OnboardingAnalyst Author: Criag LeClair
-
7/28/2019 COB Solution Demo
7/27
Customer Onboarding Best Practices - TowerGroup
7
Prescreening
and targetedoffers
ID existing andnew customers One Process, multiple products
Follow-up via the customerspreferred delivery channel
Clear instructionsto staff orcustomer
Multiple third-partydatabases fornon-customers
Bank databasefor existingcustomers
Multiple funding options:deposit account: deposit,
credit card, ACH
Instantverification
Fundingauthorization
Prefilled for existing clients
Ability to start in one channel, finishin another
Save and return
Help via chat, phone, or onlinecobrowsing
ID verification
Source: TowerGroupOnline Account Origination: The Perfect Recipe Requires the Right IngredientsAnalyst Author: Nicole Sturgill
Workflow 15 minutes for less
-
7/28/2019 COB Solution Demo
8/27
What is needed to build a modern Onboarding Solution?
customer-focused
flexible
interactive
human-friendly
multi-channel
efficienttransparent
agile
conductor of legacy and modern
case-management solution
8
-
7/28/2019 COB Solution Demo
9/27
Laura wants to switch banks
9
-
7/28/2019 COB Solution Demo
10/27
Laura visits her local branch and fills in an application form
10
-
7/28/2019 COB Solution Demo
11/27
Video - Scanning Application form with Kofax Capture Scan
11
-
7/28/2019 COB Solution Demo
12/27
Laura receives a confirmation email.
12
-
7/28/2019 COB Solution Demo
13/27
Video - Laura receives a confirmation email
13
-
7/28/2019 COB Solution Demo
14/27
Laura is asked for Proof of ID and Proof of Address
14
-
7/28/2019 COB Solution Demo
15/27
Video - Laura submits her Driver License with her iPhone
15
-
7/28/2019 COB Solution Demo
16/27
Video Laura summits Proof of Address with Web Browser
16
-
7/28/2019 COB Solution Demo
17/27
Video - Laura can review her progress
18
-
7/28/2019 COB Solution Demo
18/27
The rest of Lauras application occurs automatically
19
All of Lauras documents are In Good Order IGO.
No further human touch is required.
-
7/28/2019 COB Solution Demo
19/27
Documents In Good Order
20
-
7/28/2019 COB Solution Demo
20/27
Laura has successfully switched banks!
21
-
7/28/2019 COB Solution Demo
21/27
Billy also wants to switch bank
22
-
7/28/2019 COB Solution Demo
22/27
But Billy has a bad credit rating and history
23
-
7/28/2019 COB Solution Demo
23/27
Billy has a bad credit rating
24
-
7/28/2019 COB Solution Demo
24/27
Meanwhile back at the bank!
25
-
7/28/2019 COB Solution Demo
25/27
Video Application SLA
26
-
7/28/2019 COB Solution Demo
26/27
Video - Reports
27
-
7/28/2019 COB Solution Demo
27/27
1The Forrester Wave for Multichannel Capture, 2012The Forrester Wave for Dynamic Case Management, 2011
Leader in Dynamic Case ManagementLeader in Multichannel Capture
Kofax/
AND
Kofax Double Leader Qualification for Customer Onboarding1
Forrester Waves