DIGITAL RELATIONSHIP ACCOUNT OPENING

Background

Our client was looking to revamp its existing account opening process which had a turnaround time of over two weeks leading to customer dissatisfaction. Using a holistic approach, Arete helped the bank move beyond a simple ‘account opening’ process to making it the starting point of establishing a relationship with the client. Process improvements recommended by Arete decreased TAT from 2 weeks to 30 minutes.

Methodology

Arete helped the client re-engineer Client Experience, Risk Management & Sales management for clients’ onsite & offsite relationship opening process whilst addressing gaps in processing, cross-sell, compliance & reporting and workflow management areas.

Business Outcomes

 Client Experience

• Instant fulfillment
• Turn-around-time reduction
• Simplified Documentation

 Risk Management

• Smarter controls
  
• Integrated KYC/AML

 Sales Management

• Client/Sales-centered process
  
• Single Interface/Dashboard
  
• Holistic approach to Sales