Bank Workflow Management

Account Opening Solutions

Bank Workflow Solution

What is bank workflow management?

Bank workflow management is a method used to coordinate tasks within a financial organization. Through bank workflow management, an organization examines its existing processes and account opening procedures, and seeks to make them more efficient.

Front to Back Office

Effective bank workflow solutions help integrate an organization’s front, middle, and back offices. A bank’s front office consists of client-facing roles like trading, research, and sales. The middle office directly supports the front office team. Their roles include important functions like compliance, accounting, and risk management. The back office serves in an operational capacity. Common back office roles include settlements, technology, and HR.

Regulatory and Compliance Challenges

In addition to getting a bank’s front, middle, and back offices working together seamlessly, bank workflow solutions must help financial organizations to meet significant compliance and regulatory challenges. Mistakes in bank work processes and other mishaps can lead to stiff regulatory fines. Violations can also lead to negative publicity and irreparable damage to an organization’s reputation.

Despite these risks, many financial institutions continue to rely on manual workflow processes. Bank workflow management software helps banks to understand risk and boost compliance, while streamlining processes and delivering optimal customer experiences.


Banking workflow solutions

ProcessMaker’s banking workflow solutions help banks to streamline account opening at their institutions. Our low code platform can be used to provide industry leading customer experiences for the following:

  • Commercial account openings
  • Retail account openings
  • Wealth management account openings
  • Omni-channel account openings

Learn more about our workflow solution for banking

Commercial Account Opening

Commercial account openings

ProcessMaker’s banking workflow solutions empower banks to automate their entire commercial account opening process. Manual interactions like cross-validating data from disparate systems are removed and interconnected account opening workflows are established. Users have access to advanced KPI-based processes to monitor performance. Banks can increase compliance with regulatory requirements by conducting Know Your Customer (KYC) due diligence digitally.


Retail account openings

ProcessMaker makes it easy for banks to provide superior customer experiences. Create user-friendly new account applications, streamline communication, and grant users omni-channel account access.


Wealth management account openings

ProcessMaker’s bank workflow solutions eliminate gaps between sales and fulfillment. Asset managers can use the solution to drive need based on-boarding processes and reduce the amount of time needed to satisfy customer demands. Organizations can streamline account set-up, correspondence generation and management, funding, and activation.

Omni-channel account openings

ProcessMaker is an enterprise leader in workflow and business process management software BPM. Our platform empowers business users to design and automate the delivery of optimal experiences during the onboarding process. Customers benefit from the ability to open accounts from anywhere, at any time, and using any device.


Online account opening workflow

As a front-end process, new account openings lay the foundation for improving customer experience in banking. Nothing is more frustrating to a new client seeking to open an account or apply for a loan than a drawn-out application process.

New account openings and the customer onboarding process have traditionally been among the more tedious and laborious banking tasks. This is especially true in light of the enactment of the Know Your Customer (KYC) and anti-money laundering regulations following the 2008 financial crisis. Banks were forced to gather and verify additional information in connection with each new account. As a result, both the costs associated with and the average time required to open a new account increased substantially, at least for banks that manually manage and process new client documents.

Not only do these manual processes take longer and cost more, but they are prone to human error. This is true of any process where data must be repeatedly entered into multiple systems and important information and documentation gathered, which must then be manually reviewed to make a decision. Getting rid of these manual interactions is key to optimizing online account opening workflow.

Improving Customer Experience in Banking

With ProcessMaker’s industry leading bank workflow management software financial organizations can automate the online account opening workflow process. The platform is incredibly intuitive and user-friendly. The account opening interface allows customers to start, save, and complete their application across devices. Auto-fetching capabilities and pre-filled fields within the application reduces the amount of data that customers must manually enter.

Supporting Documents

When opening a new account, customers are notified of supporting documentation requirements. They can upload documentation through any device. This feature greatly expedites the account opening process and saves customers from making a trip to a local branch.

Department Specific

Once the application has been submitted and supporting documentation uploaded, they are sent to the specified department where the information can be reviewed in real-time. Documents are automatically scanned, and the information entered into the appropriate system. This reduces the need for humans to input data into multiple systems, saving both time and reducing costly errors.

Receiving Updates

Throughout the online account opening process, both applicants and bank level users receive important updates on events like verification and funding. Exceptions are flagged and routed to support staff. They can follow up with the applicant to resolve issues and expedite the account opening process. These features also help to identify and reduce occurrences of fraud. As a result, organizations reduce their operating costs, mitigate fraud related losses, and increase compliance, minimizing the risk of hefty fines and penalties.


If the customer’s application is approved the system will automatically send them onboarding information so they know what steps to take next. Bank staff can conveniently view customer information, as well as key performance indicators, on ProcessMaker’s user-friendly dashboard. From this data, organizations can gain insights on customer behavior and trends. Analytical tools offer the ability to create detailed reports.



Access-Bank logoAccess Bank: a case study of bank workflow management dramatically improving customer experience

Access Bank is a multinational commercial bank based out of Africa. Access Bank sought ProcessMaker’s assistance with its international expansion efforts. Their existing business process management solution did not have the capability to digitize online account opening workflow. Inefficient account opening and customer onboarding processes limited their ability to grow through new customer acquisitions. Their existing processes also made it difficult to comply with regulations adopted following the global financial crisis.

With ProcessMaker’s bank workflow management software, Access Bank was able to improve its processes through automation with minimal coding. They digitized their new account application processes. This increased operational efficiency while providing superior customer experiences. Moreover, the entire bank’s operational, legal, customer service, and compliance processes were optimized with ProcessMaker. Access Bank has continued to expand and is now larger than any other bank in Africa.

Privacy Update
We use cookies to make interactions with our website and services easy and meaningful. Cookies help us better understand how our website is used and tailor advertising accordingly.