Customer On Boarding

Bringing all of your customers’ information together across branches, platforms and systems to provide top level service resulting in customer loyalty.

  • Customer On-Boarding - Definition& Meaning
  • Context - System Overload
  • Challenge - Customer Loyalty Low, Increase Regulations, and Diminishing Revenue
  • Goal - Increasing Revenue through Informed Customer Care
  • Solution - Unified system that is easy to use with all information
  • Benefits - Maximizing Revenue Opportunities

Customer On-Boarding - Definition & Meaning

Yes, Customer On-Boarding is about establishing the accounting relationship, having a legal framework, getting the CRM correctly populated, and general notifications to all the associated parties. It is also so much more. Proper Customer On-Boarding is building a relationship with a customer. This has to be handled with finesse. It means providing an experience with a client that introduces them to your company, brand, and offerings of value to them. It means understanding their wants and needs from previous interactions and particularly purchases. Customer On-Boarding is about making sure the first 90 days with that person is a success and results in a long-term mutually beneficial relationship.

Context - System Overload

Banks, insurance companies, and other financial institutions have been quick in adopting new technology from the beginning to increase their productivity and streamline processes. Over the last thirty years, one system has been added to another for different purposes and products. Companies have acquired and merged doubling the internal systems each time. Those systems built initially for improving efficiency have now become silos of information and barriers for employees to attain valuable information on their customers. Now new and difficult to enforce regulations are being imposed on companies and their employees which are nigh impossible to fulfill with the current infrastructure.

Challenge - Customer Loyalty Low, Increase Regulations, and Diminishing Revenue

Frankly, the current situation for most financial institutions is worse than it has been in a long time and is not getting easier. This can be seen as a time to tighten the belt and hope it blows over or as an opportunity to differentiate and rise out of the ashes as a phoenix of the future. With the recurring financial crisis, property crash, struggling currencies, and general unknown financial future, the public’s impression and trust in financial institutions resembles that of Black Tuesday when the stock market crashed in 1929. The governments in their attempts to prevent future crashes and comfort their constituents have added policy after policy like KYC (Know Your Client), AML (Anti Money Laundering) and FATCA (Foreign Account Tax Compliance Act). These regulations have merit but are more than a little difficult to implement when customers’ data and transactions are scattered over petabytes of data a plethora of repositories in and out of the company in different geographies and under different departments. All of these areas discussed and a less than robust economy leaves customers with less to invest and a more cautious and critical eye to offerings.

Goal - Increasing Revenue through Informed Customer Care

With the landscape of diversified systems across departments and geographies, the time spent by business users in on-boarding new customers is long and complex. With the current challenges facing financial institutions, customer on-boarding, retention, and caring for cross and up sale opportunities are essential. Therefore, the operational challenges today must be overcome and the time spent reduced. The answer is to bring the user back to one unified source with one screen for all the products and documents.

The primary result of this is threefold. The initial customer on-boarding process will go smoother and be more successful resulting in more customers brought on. These customers are better understood by those caring for them allowing them to provide them new services easier and maintain their loyalty. Lastly, those caring for the customer will be more focused on generating business and less frustrated from the process of hunting for information and overcoming artificial barriers.

The secondary goals are to comply with regulations and reduce costs. Through the unification of the data, legacy systems can be phased out. This results in a series of savings for licenses, administration, and maintenance on systems which are no longer necessary as historical data stores. It also results in a regulatory overview of all contracts and agreements with a customer for easier compliance measures and evaluations. Internal process can even be easily mapped to assure compliance matching specific to the exact customer.

Solution - Unified system that is easy to use with all information

The solution is found by bringing all of these disparate systems under one access point. Many systems could be used for this. We have found that MarkLogic Server is one of the best fits. It has the ability to store all the varied types of data. It can scale to hold any volume of data while maintaining milli-second response times as exemplified in some of its Big Data projects. The navigation of the data can be done through a search interface common to all but with powerful display and navigation options. It also goes beyond a typical search engine in its ability to allow addition and editing of material. Through APIs and XML, it integrates seamlessly with other systems in the customer on-boarding ecosphere for marketing, support, and finance. The entire interaction with the system from the business user is not only familiar, fast, and easy to use, it remains secure at all times.

The challenge remains how to get all of this disparate and varied data lacking standards into the system. The challenge of getting all of that data normalized and pushed into the system could take man-years of the IT department which not only has a monetary cost but an opportunity cost of the time to implement while current customers slip away. This is where 30 Digits’ Extractor technology comes in to play. The Extractor technology can take the data out of all of these data stores wherever they may be in the company, cloud, or other location. The Extractors understand the native languages of the repositories. With a simple mapping through a fully assisted user interface, data from current systems can be streamed across. This can be done in bulk full transitions deprecating the original source or happen through ongoing feeds maintaining the existing system in parallel with the new one. It also assures that the security on the documents is maintained in the new system. As the data volumes are typically in the terabytes, the 30 Digits Extractors have scaling and speed to handle the largest and most demanding environments.

The end result is a unified system that works across all the data in the company.  This allows the business users to find their customer’s contracts, plans, and last interactions in real-time while on the phone with them. This means no more hunting and searching and still most likely missing important information. It means customers have confidence in their provider and are willing to trust them with new investments.

Benefits - Maximizing Revenue Opportunities

The Customer On-Boarding solution unifies a complex information sea into a simple to use tool for accessing company wide information on customers securely.  This benefits the company that implements, the employees that use it, and the end customer.

Optimizing Customers On-boarding Experience

  • Increase speed and success rate of on-boarding new customers
  • Visibility into other products and services bought through other divisions of the company
  • Increase in new client revenue

Improving Long-Term Customer Relationship

  • Capitalize on cross-sale and up-sale opportunities
  • Improved customer experience
  • Retain customers longer
Cost Savings
  • Reduced effort in on-boarding and customer care processes
  • Elimination of legacy systems
  • Development and deployment of new products is cheaper and faster on unified system

If you would like to know more, contact us at We would be more than happy to answer your questions and talk with you about how we can assist with Customer On Boarding at your company.

Connect with us
First Name:*
Last Name:*

Related Material from the Resource Library