Enhanced Customer Onboarding Workflow with 33% Increased Task Success Rate

The client’s existing online KYC (Know Your Customer) workflow suffers from high abandonment rates and frequent technical support requests due to a complex, lengthy form process, poor user guidance, insufficient status tracking, and a stressful user experience, leading to decreased onboarding success and customer satisfaction.

A mid-sized bank or financial institution seeking to optimize its digital onboarding process to reduce user abandonment and support inquiries.

• Increase the task success rate of the onboarding KYC process by approximately 33%.
• Reduce user abandonment rate during onboarding by around 39%.
• Enhance user satisfaction and engagement by creating a streamlined, guided, and transparent workflow.
• Reduce the volume of support inquiries related to onboarding processes.
• Implement real-time status tracking and clear progress indicators to inform users throughout the process.

• Multi-step, guided form with manageable sections to reduce complexity.
• Contextual explanations for each data request, especially for sensitive information.
• Automated data formatting and validation to minimize errors.
• Progress indicators to show users their current position within the process.
• Real-time status updates to inform users of verification progress.
• Support for partial offline verification and seamless support during the process.
• Automated notifications and alerts to assist users in completing their onboarding.

• Verification service APIs for identity and document validation.
• Support ticket or live chat systems to assist users during onboarding.
• Status tracking systems linked with internal verification processes.

• System capable of supporting high concurrent onboarding sessions with minimal latency.
• Data security measures compliant with industry standards for sensitive information handling.
• System availability and reliability to ensure continuous onboarding support.
• Scalable architecture to accommodate future growth in onboarding volume.

By redesigning the onboarding workflow with improved usability, transparent progress tracking, and streamlined data collection, the project aims to boost task success rates by approximately 33%, decrease abandonment rates by around 39%, and reduce support inquiries. These improvements will enhance overall user satisfaction and operational efficiency, leading to increased customer acquisition and retention in the financial services sector.