Excellent Customer Experience
The onboarding journey was significantly improved for the customer, cutting the new account onboarding time from 40 days down to just 20 min to an hour. A customer survey of the account opening experience produced extremely positive results. Across countries, 73-86% of customers rated the experience at a 4 (Good) or 5 (Excellent).
The bank delivered millions USD in direct cost efficiencies in under 8 months from the new, globally streamlined processes. The straight-through-processing of customer data into the core banking systems saved the Relationship Managers, Case Managers, and Operations staff extensive time, enabling them to focus on more value-added activities. It also improved data quality and reduced errors related to rekeying of customer input.
The bank met the demand for a globally-consistent account application. Now, clients need only complete a single application to simultaneously open an account in multiple countries. The Avoka platform provided language localization within its design tool. Customers automatically see the application in the language corresponding to their location.
Alternatively, they can change the language to meet their preference, including French, English, Simplified and Traditional Chinese and Vietnamese. Within the first phase of the project, the bank supported 25 countries. The globally-streamlined process also enabled regional hubs to serve multiple countries, improving the bank’s efficiency.
Rapid time to market
The project went live in the top 3 markets in just 3 months and a total of 25 countries within 8 months. Leveraging the Avoka platform, with all the features required for an optimal onboarding experience already built-in, enabled the bank to rapidly accelerate their time to market.
Contact Avoka today to learn how you can see results such as these for your business banking www.avoka.com. We’ll show you that you can increase your throughput and revenue with an outstanding digital sales experience faster than you ever thought possible.