Digital onboarding for banks & financial services
Linus A. Xavier · International journal of advance research, ideas and innovations in technology · 2021
Since the onset of COVID-19 in the year 2020, organizations across the globe have been forced to do business with minimal human contact. Global fin-tech & banking industries are no exception. Fin-techs are leveraging this opportunity to eat into the business that traditional financial organizations, as well as banks, had previously taken. It’s becoming essential for banks, and traditional financial services organizations to move onto digital processes, digital customer onboarding being a critical piece of it. Regulatory KYC processes make onboarding a tricky affair. However, today’s digital ecosystem and advancements in CV & AI allow financial institutions to onboard customers with zero human interaction in most cases.