5 Tech Upgrades That Can Revamp Your Customer Onboarding Process

When businesses brainstorm ways to scale, they generally think about focusing more on sales. However, billion-dollar companies can assure you that growth depends on a positive customer journey. 

The onboarding process is your customer’s first impression of the company. If accurately and conveniently executed, it can lock the customers for years to come. A recent study revealed that out of the 216 customers surveyed, more than 90% felt that the companies they take services from “could do better” when it comes to customer onboarding processes. An additional 63% stated that when opting for a service, the business’s onboarding process plays a crucial role. 

Suggested Read: Shufti Bagged “Product Leader” Award with 92% Customer Satisfaction

What’s the Risk of Sticking with Legacy Processes? 

Even the most advanced legacy software is no longer safe from today’s tech-savvy criminals. On top of their high vulnerability to cybersecurity threats, upgrading technologies is crucial for staying up-to-date with the latest customer trends and expectations. 

If you’re not sure where to begin, here are five tech upgrades you should make to give a new life to your customer onboarding process. 

1- Go Contactless

Customers today have become hesitant towards processes that require too much physical contact, given the consequences of COVID-19. The latest technologies provide companies with a chance to offer safer communication channels. How? Through contactless user interfaces and minimal touchpoints. 

For instance, financial institutions can use biometric facial recognition technology instead of manual processes to verify customer identities during the initial stage of onboarding. With this method, legitimate customers can be onboarded remotely, in less than 30 seconds, and that too with the highest level of  convenience. 

Suggested Read: 5 Key Questions about Facial Recognition Answered by Experts

Another contactless technology businesses can opt for is Near-Field Communication (NFC). NFC-based identity verification processes allow customers to sign-up with a simple wave or tap of a card. Leveraging such technologies during the onboarding process can make your customers feel like the company is staying ahead of the curve. 

2- Use AI for Automation  

Some of the largest companies worldwide are using AI to upskill customer onboarding processes. Optical Character Recognition (OCR), for example, uses AI to extract data from documents through an automated process. This eliminates the need to manually type in data, making customer verification smoother for both the customer and the business. 

Download White Paper: Fully Embracing Digital Transformation with Automated AI OCR Engine

AI is also crucial for enhancing security, particularly for the prevention and detection of fraud. AI-powered technologies such as biometric authentication systems and document verification solutions have the ability to weed out suspicious transactions, identity thieves, and countless spoof attacks. This is an added bonus for businesses as it leads to the timely detection of customer onboarding frauds. 

Download Report: NFC Verification: Not Cutting Any Corners With Remote ID Authentication

3- Invest in SaaS Tools 

Software-as-a-Service refers to the method of delivering applications by making them accessible via the internet. For companies, SaaS tools are becoming highly beneficial as they reduce the upfront costs of software installation as well as ongoing costs such as hardware maintenance.