CoCoNet presents digital solution for onboarding corporate customers at Finovate Europe
- CoCoNet’s onboarding solution allows banks to onboard corporate customers in days rather than months – saving time for both the bank and its customers
- The flexible and user-friendly solution allows banks to grow revenues while enhancing their relationships with their customers
CoCoNet presented its innovative onboarding solution for banks’ corporate customers at cutting-edge online technology conference Finovate Europe.
With the fast and cost-effective solution, banks can follow a fully digital process for onboarding their corporate customers. This allows them to onboard customers in days, instead of months – which was typically the case in the past. The flexible solution, which also enables banks to accelerate their processes step by step, is part of CoCoNet’s Customer Lifecycle Management portfolio, which helps banks to support their customers throughout all the different stages of their lifecycle.
Benefits for banks
Banks can benefit from the new solution in several important ways. Firstly, they can save time and money by no longer following manual processes such as printing documents and sending letters. They can also make their services available to new customers almost straightaway, which allows them to start earning revenues sooner. Finally, they are delivering a very positive user experience to their new customers from the outset, setting the foundation for a strong relationship over the longer term.
Tailored for corporate customers
CoCoNet’s digital onboarding solution for banks’ corporate customers is completely different from the digital onboarding processes already used in retail banking. It is specifically designed to accommodate complexities such as individual user rights, intricate permission and authorisation structures, and customers having subsidiaries in different countries.
The highly flexible onboarding solution quickly adapts to different needs and thus perfectly meets these requirements. Moreover, the integrated co-browsing software enables bank advisers to interact with their customers in real-time collaboration and via video chat. Queries can therefore be easily resolved, creating a good experience for customers. Bank staff also have access to an onboarding dashboard, which allows them to monitor and resolve any issues that arise with a customer’s onboarding process.
“As experts in corporate banking, we know the challenges banks face when onboarding new corporate customers,” said Dennis Rochel, Managing Director of CoCoNet Innovations.
“So, we decided to support them in speeding up the process and reduce the onboarding time by up to a third of the original time. With our smooth end-to-end solution, which can also be implemented stepwise, banks can achieve cost reductions and gain flexibility in the overall process.
Finovate is one of the most important events in the financial calendar. It showcases breakthrough technologies through a blend of short-form demos and key insights provided by thought leaders. Over the years, it has shared some of the most promising innovations in banking and financial technology. After participating in Finovate West Digital last year, CoCoNet took part in this year’s digital event for the second time.