White paper: Agreement automation – Best practices to remove friction, improve compliance and achieve growth
Aite Group predict that by 2020, over 45% of checking and savings account applications will be submitted through online and mobile channels.
Financial institutions that want to win new customers and achieve growth must digitise the way in which customers are onboarded – whether a customer is opening a new account, taking out a loan, signing up for a financial product, or signing a credit or asset finance agreement.
Today’s customer demands fast, digital services – services that many financial institutions are still delivering using paper forms and in-person identity verification methods. These archaic processes lead to high customer abandonment rates and an increase in application fraud.
This white paper discusses best practices for financial institutions looking to digitize their customer agreement processes using agreement automation.
Learn how to:
- Reduce abandonment rates with digital identity verification
- Eliminate manual errors through automated workflow rules
- Fight application fraud and achieve KYC compliance
- Strengthen agreement enforceability with audit trails
- Quickly evaluate and fix deficiencies in current processes
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