CASE STUDY
Comprehensive banking platform for enhanced customer experience
One of New Zealand’s leading commercial banks with over 175 years of experience has gained them more than 1.3 million personal, business, and rural customers.
Challenges
- Delayed time-to-market due to tedious and complex compliance reviews
- Lack of streamlined process to onboard a customer
- Lack of centralized system to provide up-to-date information to all stakeholders
- Lack of visibility on onboarding status
- Legacy systems for updating critical customer information
- Delayed throughput due to multiple follow-ups from various stakeholders
- Disintegrated tools limiting enterprise systems
Outcomes
- Enhanced customer interaction with 40% reduction in onboarding time
- Improved process efficiency and customer experience
- Enabled customers to onboard faster in an intuitive, accurate and compliant manner
- Enable customers to easily update their compliance-related information
- Provided a single view of compliance and onboarding status of each customer
- Guided each customer’s compliance requirements
- Improved data integrity, accuracy, and speed of onboarding with audit trail for compliance and security
Abstract
We at Areteans deployed NextGen CLM to enable smooth onboarding and dynamic verification processes. The modular solution fixed tedious, complex compliance reviews to provide a centralized system for faster onboarding.
Our team improved process efficiency for transparency and traceability. We enabled our client to orchestrate enhanced customer experience with improved data integrity, accuracy, and speed.
Benefits
- Improved customer interaction with 40% drop in onboarding time
- Simplified KYC and risk assessment for transparency and traceability
- Amplified customer experience