How banks can use client portals to enhance the onboarding experience

As corporate, commercial, and small and medium-sized enterprise (SME) banking clients continue to expect a more user-friendly, efficient and digital onboarding experience resembling the ease of their consumer products, banks must place greater emphasis on the front-end user experience when it comes to client onboarding. Client portals are no longer just “transaction” hubs but are now the end-to-end engine of new customer relationships. EY leaders share their insight into how banks can transform client perception of the onboarding process by incorporating purpose-built, key capabilities into their client portals.

Key takeaways:

• The client portal has evolved into a true two-way medium for banks to interact with their customers, and consumer perception of the portal dictates whether the client onboarding experience is a success or failure.
• Successful portals are set apart by user-friendly interfaces, accessibility and key capabilities to meet consumer needs.
• Document exchange, e-sign, onboarding process tracking and self-service trainings are among the key portal differentiators that set great client onboarding experiences apart.
• To deliver successful client portals, banks can consider buying off the shelf, building in house or a combination, depending on bank capabilities to maintain.

Moderator:

• Vinti Laungani, Manager, Corporate, Commercial, and SME Banking Consulting, Ernst & Young LLP