Simplifying digital onboarding

Simplifying Digital Onboarding – Why We Started Quickboarding

It is an undeniable fact that onboarding is an integral part of whole customer lifecycle. It is the point at which the customer interacts with the product and makes a decision.

Banks have relied on a traditional onboarding process for many years, which is not only time consuming but also inefficient and prone to mistake, all of which contribute to a poor customer experience.

Earlier there were few options available to the customer, so even with a bad experience they were bound to use the services. However, in today’s digitally savvy age, customers have dozens of alternatives, and the digital first strategy is the only way to win them over.

All of these factors contributed to a wave of digital transformation in banking, which became even more intense when the pandemic hit, as it served as an instant wake-up call for businesses that had previously underestimated the power of technology. With the wave of change, every financial institution began to use digital technology to serve its consumers.

Working through a digital medium process is still complex as there are different ways for serving different kind of customer needs and that is where the adopted digital approach failed for many of the financial institution. Because hardcoded platforms are designed for digitization not truly digitally transformed. See the difference between digitization and digital transformation.

For flexible digital transformation Quickboarding was founded.

How it started?

The idea and need of building Quickboarding struck when I was helping FIs in digital transformation in my previous company. While working, I noticed that most of the FIs are just digitized not digitally transformed and it is because the platforms are designed that way. While doing more research I found that FIs fit their process as per the platform they are using rather it should be opposite if we’re talking about digital transformation.

Why flexibility is needed?

Because, market is evolving at a very rapid rate. Customer requirement, regulations are changing every day. To keep up with the pace of the market the FIs need a flexible platform which is capable of delivering changes in a least time and effort.

We all know that best experience cannot be achieved in one go or one iteration because it’s impossible to envisage the ideal experience without trying it out. It is a matter of learning and refining the process. The process of evolution becomes a challenge with hardcoded platforms that are designed for a specific need and use case because every time you require customization, developer dependency for a change in process, and this customization comes with a series of deployment and testing that doesn’t seem practical.

This is why we felt flexibility as a big problem and that is how Quickboarding was born. We brainstormed a lot to come to conclusion of building a complete no code platform for automating banking use cases as it was the perfect way through which:

  1. We can assure true digital transformation
  2. We can assure flexibility
  3. We can assure single platform for different automation use cases

Quickboarding’s No-Code onboarding platform doesn’t require technical mastery and there is no learning curve at all. Whether it’s your underwriter, operations person, or MIS team member, anyone can design a comprehensive onboarding procedure. It is a complete dragging and dropping.

Quickboarding is armed with several modules as well as 3rd party integrations to make onboarding lightyears faster. Quickboarding allows you to design onboarding process flows using Flow Builder, execute custom credit analysis models using Risk Engine, manage contracts using Contract Manager, and perform due diligence utilising 3rd party integrations.

Quickboarding should not be mistaken as feedback collection tool. It’s a comprehensive ecosystem for creating highly personalised onboarding procedures, from data collection to analysis to approvals. It strives to assist businesses in automating long-term pain issues.

As we continue to develop a stellar digital onboarding platform, you can expect a constant stream of new capabilities for creating super-intuitive and tailored customer journeys.

Join our Early Access Program to be a part of our journey and see how we can help you grow your business.