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Moving to Digital Onboarding: Making Customers Loyal for Life

February 13, 2019

Onboarding customers, business partners or even employees needs to be as fast and seamless as possible in this digital age. Often enterprises focus their digital transformation initiatives on customer acquisition, but once you’ve signed them, consumers today expect a fast and seamless enrollment experience via any channel – digital, mobile, call center, etc.

In their first 90 days with your organization, are you doing everything possible to make onboarding fast and painless, improving the chances they will become a loyal customer or partner for life?

In working with our clients, we see proof that leveraging modern digital technologies to streamline your onboarding processes improves customer satisfaction, enhances lifetime value, and enables better upselling and cross-selling opportunities. Not to mention, digital onboarding can deliver efficiencies and reduce the cost of meeting regulatory compliance requirements.

A good digital onboarding process delivers ROI both externally and internally:


  1. A friction-free, optimized experience that focuses on speed, ease-of use and convenience makes your customers happy
  2. Automated business processes that eliminate manual steps and paperwork while enforcing data integrity reduces overall operational costs – and makes your executive team smile

We’ll show you how.

Why We Need to Transform Digital Onboarding Processes

Industry analysts and large consulting firms say onboarding should be a priority for digital transformation efforts across nearly every industry. After all, bad onboarding can increase customer attrition rates by between 25 and 40 percent, according to The Financial Brand.

Industry analyst firm Celent emphasized the need to focus transformation efforts on onboarding in its November 2018 report discussing industry trends for wealth management firms.

“The ability to seamlessly onboard clients has become table stakes in the age of digital advice. Rising expectations among clients and advisors have raised the bar for wealth management incumbents, who must balance regulatory and compliance requirements with the need to drive satisfaction and cross sales.” —Celent

According to Bain & Company, customers who use digital channels reward their banks with loyalty. Digital banking customers tend to own more products, and they transact and engage more with their bank. Mobile-first customers give higher loyalty scores to their primary bank than people with low digital behavior do – globally almost 50% higher.

As noted by Argo executives at the InsureTech Connect conference last October: “Customer acquisition is just the beginning. How you deliver value to customers – that’s the real benefit to them in this ecosystem. We’re trying to create a better experience for everyone we engage.” That means a better onboarding experience.

Even in government agencies, where cost savings are typically the focus, many CIOs are transforming their onboarding processes not just for efficiency sake, but to deliver better citizen service.

So, why is the onboarding process so difficult?

The Challenges of the Customer Acquisition Onboarding Experience

We believe traditional onboarding a combination of several problems:

  • Fragmented signup process — Time- and attention-starved customers may not be able to complete the signup process in one session. Ideally, the onboarding process should track progress and let them stop and then restart onboarding effortlessly, from where they left off.
  • Complex information requirements — Several industries, especially financial services, healthcare and government, have complicated data requirements and strict compliance regulations. State or regional rules often govern what information needs to be gathered in what format. Customers often have to wade through forms with irrelevant questions – struggling to figure out what you need from them. This often results in high NIGO (not in good order) scores.
  • Multiple channels and devices — Customers may choose to onboard across multiple different devices, or even through a call center, and the experience is often inconsistent. Enterprises need to provide an integrated and seamless experience across each channel.
  • Paper-based processes – Sadly too many business processes still require customers to complete and sign paper forms and either scan and fax or even worse, mail them back. No one enjoys this tedious and time-consuming effort, either externally or internally.

The Solution: 5 Ways to Streamline Onboarding

Here are five areas to consider as you evaluate your onboarding processes:


  1. Replace Forms with Guided, Adaptive Interviews

It’s time to re-imagine the form as your onboarding mechanism. Instead of serving up static “smart” forms, you can deliver smart, adaptive interview questions through an interactive, digital channel, either via a browser or mobile device. Tailor the questions and responses to each unique individual and their previous answers, and provide information throughout the process to keep them engaged.


  1. Personalize the Experience by Reusing Information

It’s likely you already have good information on your new customer or employee. Make it easier for them and speed up onboarding by pre-filling information from your backend systems and then have them verify it.


Not only can you pull in “known” information from not only core systems of record, but consider bringing in third-party data sources like LexisNexis or even geospatial mapping applications.


  1. Ensure Your Onboarding Process is “Device Agnostic”

It shouldn’t matter if prospects come to your business via a mobile app, a website, an optimized mobile experience or in some other way — the onboarding process should be fast, effortless and consistent. This means tailoring onboarding to their timing and requirements, and letting them start and stop as needed.


  1. Deliver Communications On Demand

No customer wants to be treated as “just another number.” Instead, you should build dynamic, engaging communications as needed and deliver them to your customers on demand across multiple platforms — through a web portal, social media platforms, SMS text messages, emails or traditional documents. If those assembled agreements or documents require signing, you can even integrate e-signature tools like DocuSign into the process to make onboarding even faster.


  1. Improve Internal Staff Efficiency During Onboarding

Faster onboarding matters to your staff as well. When you integrate their workflows with the onboarding process, it creates a better experience for everyone. Allow experienced staff members and customer service agents to step into the process when necessary, providing expert, focused help and support to your new customers. A good onboarding process will reduce manual work, and enhance customer and employee satisfaction.

Use Intelledox to Transform Digital Onboarding

Proof points like this will resonate and increase loyalty at a time when your customers which you have invested so much to gain are lured by your competitors.

Here at Intelledox, we provide all the technology you need to transform customer onboarding and boost your conversion rates. Our next-generation forms, workflow and on-demand communications management platform will help you turn your prospects into paying customers.

See for yourself. Read this case study to learn how an international banking group saw large gains through using Intelledox Infiniti’s Adaptive Interviews. Contact us to find out how we can help your organization.


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