CoCoNet enhances MULTIVERSA IFP with a fully digital initialisation process, which enables banks to grant access to their corporate banking portals more quickly

  • A convenient and user-friendly enhancement allows banks’ corporate customers to start using their banking portals on the same day that access is requested.
  • Banks can use the new process as a basis for increasing customer satisfaction – and driving competitiveness over the long term.

Thanks to CoCoNet’s digital initialisation process banks can further improve their customer experience by granting access to their portals more quickly. The new process is an enhancement of CoCoNet’s market-leading payment and cash management platform MULTIVERSA IFP. It simplifies and accelerates the initialisation process, both for banks and their new users.

Previously, the identification and key initialisation process for granting portal access involved posting initialisation letters and verifying IDs and signatures manually. With the new, digital process, however, banks fulfil the expectations of their customers, who want to start using the portal on the same day that access is requested.

How does the new digital process work?

Banks’ corporate customers simply create new EBICS keys for their team members with their MULTIVERSA Token. They can then choose to initialise the keys digitally. The app guides the user through a simple, step-by-step process including immediate online identification. At the end, the user is authorised to access the online banking portal.

“Our digital initialisation process will enable banks to significantly reduce the amount of time they spend on activating EBICS keys for new customers,” said Björn Hassing, CEO of CoCoNet. “This will allow them to improve customer satisfaction and retention, since initialisation is among a customer’s first touch points with a banking portal. As a result, the solution will boost banks’ competitiveness over the long term.”

He added: “We believe in thinking smart. So, we are committed to continuously improving our products to support banks in optimising their processes. Digitalisation of even simple processes, such as the initialisation letter, can be a simple way for banks to retain customers while applying the latest security techniques, and saving time and money. We will actively look for further opportunities to digitalise bank-to-customer processes in the future.”

 

The new digital initialisation process in MULTIVERSA IFP saves time on the customer side and costs on the bank side.

 

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