Lyons logo

The way people bank is changing. More and more people not only want to bank online, they want to avoid visiting a branch at all. Face-to-face interactions with tellers take time and require visiting during hours that may not be convenient for everyone.

Digital customer on-boarding tools can help. Customer on-boarding is the process of leveraging different financial products and services into an intuitive path for the customer’s journey. It starts with the opening and funding of a checking or savings account and expands into a lifelong relationship that includes everything from loans and credit accounts to investments and more.

It is just like on-boarding a customer after a face-to-face transaction, only the process occurs digitally  and that means you will need to find a way to verify account information.

With New Customer Account Verification the Data is All in One Place

With old systems, key information is not available from one system to the next. However, when you adopt integrated new customer account verification, there is a single source for the information and it informs your other systems. For instance, if a customer starts an application online, with the integrated approach, that info will be available in other platforms. This simplifies the process of opening an investment account when the customer already has a checking account. Customers save time and you reduce the risk of errors or inconsistent information.

Technology is Changing All of the Time

When you add integrated account verification, your processes improve as well. With the world constantly changing, it’s critical to stay up to date. Integrated account verification systems do more than hold everything in one place. They also help reduce the cost of ongoing process changes.

Streamlined Process

Finally, integrated account verification systems also help to streamline your customer processes across the boards. Your customers need to be able to experience the same journey, no matter which channel they are using to interact with your company. This helps to reinforce your branding and distinguish you from competitors. Integrated systems offers real-time reporting as well. You can use it to manage your processes and your staff, spotting inefficiencies before they become problems.

Ultimately, integrated account verification systems can help you make sure that your customers are pleased and that employees are doing their best to serve the needs of your business as well as its customers. These integrated systems also make it easy to compare solutions, collect feedback and update systems with new technologies as they become available.

Could your company use an account verification system? Do you have business processes that operate separately but often serve the same customers? Adding an account verification system to your operations could help you streamline your processes and collect information about your customers that you can use to better your business. Contact Lyons Commercial Data to learn how an account verification system could help you.

Leave a Reply

Your email address will not be published. Required fields are marked *