Deloitte Digital Bank – Customer Onboarding

Summary

The Deloitte Digital Bank accelerator revolutionizes customer onboarding with a frictionless digital experience. It enables opening accounts in under 2 minutes using a mobile device, government-issued ID, and facial recognition, creating a secure digital identity. This scalable, cloud-based solution empowers customers to control their financial life, reaching the underbanked and enhancing the overall banking experience with features like QR code payments and cross-border transfers.

Takeaways

• 😀 Customers value a frictionless experience and dislike waiting in lines or dealing with lengthy processes.
• 🏦 Traditional banking processes, such as opening an account, can be cumbersome and time-consuming.
• 🌐 Deloitte aims to reimagine customer onboarding to achieve a digital-first experience.
• 🚀 The goal is to onboard 1 million new customers per hour without significantly increasing costs.
• 📱 A mobile device, government-issued ID, and a smile are all that's needed for the new onboarding process.
• 🔍 The application automatically fills out forms by using the user's location and language preferences from their mobile device.
• 🆔 Verification is done by taking a photo of the user's ID and matching it with their selfie through facial recognition.
• 🔒 Exponential technologies like blockchain, AI, NLP, and biometrics are used to create a secure, immutable digital identity.
• 📋 This digital identity becomes the single source of truth for the customer across the organization.
• 👍 Customers are empowered to control their identity, enhancing their financial life.
• 💻 Deloitte's Digital Bank accelerator is a cloud-based application built on a scalable microservices architecture.

Q & A

What is the main problem customers face when opening a new bank account?

Customers face friction such as standing in line, holding on the phone, and signing endless documents, which wastes their time and energy.

What is the traditional process like for both new and existing clients when opening a bank account?

The traditional process involves meeting face-to-face with a bank representative, providing personal information, filling out long forms, making deposits, and sending documents back and forth, which can take days.

What is the goal of Deloitte's Digital Bank accelerator in terms of customer onboarding?

The goal is to reimagine customer onboarding to enable handling 1 million new customers per hour without significantly increasing costs, by moving to a truly digital customer experience.

How long does the new onboarding process take with Deloitte's Digital Bank accelerator?

The new onboarding process takes less than 2 minutes and can be done anywhere with a mobile device, a government-issued ID, and a smile.

What are the requirements for the new onboarding process using the Digital Bank accelerator?

The requirements include a mobile device, a government-issued ID such as a driver's license or passport, and a selfie for facial recognition.

How does the application pick up location and language preferences during the onboarding process?

The application automatically picks up location and language preferences from the user's mobile device.

What technologies are used to create a digital identity in the new onboarding process?

Exponential technologies such as blockchain, artificial intelligence, natural language processing, and groundbreaking biometrics are used to create an immutable, secure, paperless digital identity.

What is the significance of the digital identity created in the onboarding process?

The digital identity serves as the single source of truth for the customer throughout the entire organization, allowing banks to know their customer and provide personalized services.

How does the account opening process conclude after the onboarding steps are completed?

The account opening concludes with the customer signing in with a fingerprint, which is a quick and efficient step.

What additional services can Deloitte's digital bank accelerator provide to enhance customer experience?

The accelerator can provide services such as QR code payments, cash recycling, cardless withdrawals, and cross-border transfers.

What is the technical foundation of Deloitte's digital bank accelerator?

The accelerator is a cloud-based application built on a flexible and scalable microservices architecture, showcasing digital banking modules integrated with core banking applications and complex back-end systems.