Consumer Account Opening Frictionless. Secure. Meet the high consumer expectations with a frictionless account opening. Consumers can open an account in a few minutes
- Meet with customers where they are, both online or in-branch
- Customer Self-Serve
- Embedded into bank website
- Complete in Person
- Bi-directional integration with your core banking system
- Add account and services, signers, request additional documents, and update customer information.
- Ensure a consistent experience post account boarding.
- Add or remove signers
- Modify treasury limits
- Understand every activity within the process with Dashboards and Reports
- Keep a bird’s eye view on all your account opening workflows in flight. Zoom into specifics and fight abandonment by tracking due dates, progress and escalations.
- Included identity verification and
- Background checks.
- Biometric review - Capture live face-scans and compare with IDs,
- OFAC - cross-search across sanction lists,
- Run credit checks
- Reduce the risk of fraud with the background check tools.
- Stay compliant with the due diligence and AML/BSA tools.
- Easily present appropriate deposit compliance disclosures.
- Define customer risk profiles and
- Configure related usage limits and exception approvals.
- Perform due diligence and risk rating of application before final approvals.
- Capture consent easily for appropriate deposit compliance disclosures with eSignature.
- Collect electronic signatures once from all relevant parties.
- Generate and deliver Signature cards seamlessly
ProcessMaker’s Next Generation Account Opening delivers an end-to-end digital account opening experience.
- Cover the last mile with immediate funding options
- Fund new accounts easily via ACH, with account validation via NACHA Phixius.
- Wire Transfers
- Or fund from existing debit accounts or credit cards via PayPal.
- Automatically create customers, accounts, and relationships directly with your Core system without manual intervention.
- Reserve account numbers from the Core,
- Auto-generate CIF numbers using your own rules,
- select from a range of predefined numbers,
- Or input account numbers from starter packs.
- Cross the finish line with storing in your DMS repository
- Automatically create all account documents and signature cards. Have them moved via SFTP with index files created so your current document management system can access them.
- SMS Communication with Twilio
- Notifications to customers and bankers
- Throughout the process, applicants and bankers receive notifications on process events, such as verification checks, account funding, etc. Exceptions are flagged for back/middle office support users to reach out to applicants, help resolve exceptions, and ensure the completion of the account opening process.
- Expand Services: with Open banking concept - with RESTful API, expand your capabilities with third-party integrations.