Marketing and sales efforts culminate in new account opening, which should feel like a natural next step for customers as they explore the products that best meet their needs. Unfortunately, many financial institutions struggle with account opening—involving multiple systems and the rekeying of data, while customers observe a process that appears strenuous.
ARGO Account Opening delivers a new account opening process that reduces cycle time and fulfillment exceptions, leaving account opening a simple, painless process with plenty of “eyes-up” time for your employees to continue customer conversations. Account Opening does not end until the account is fully funded, and the customer is actively using the account and its ancillary services. To this end, the solution integrates the onboarding process.
Reduce Account Opening Cycle Times
Account Opening allows you to open multiple account types, such as checking, savings, certificate of deposit (CD), and individual retirement accounts (IRA). It also assigns safe deposit boxes and orders ATM and debit cards.
The solution streamlines the account opening process by prefilling data from existing customer records where available. It guides employees through a series of questions to ensure proper titling and ownership designations. The solution also automatically populates appropriate fields with information required for forms and disclosure printing, and attaches and bundles related products and service options, such as online banking, overdraft protection, combined statements, and recurring transfers.
Reduce Account Opening Exceptions and Errors
Account Opening integrates the opening of ancillary services so users have one platform for the account opening and request process. By eliminating application flipping and rekeying, your institution can reduce points of error. Service level agreement tracking and workflow tools make it straightforward for your associates to track any follow-up tasks, adhering to your institution’s standards.
Compliance questions are part of the workflow designed by your financial institution to help ensure compliance standards are met at the point of sale.
Reduce Attrition Risk
Account Opening does not end when the customer session ends. Customer onboarding is a key step in ensuring the accounts become fully funded, and the customer begins using the services associated with the account. The solution seamlessly feeds the onboarding program designed by your financial institution. By automating the onboarding process, assigning service level agreements, and giving management insight into the process, Account Opening helps ensure penetration of the calls. Design checklists help associates cover the correct information in the call to meet the goal of retaining the new customer.
Open Accounts in One Channel, Finish in Another
The solution integrates online channels with front-line systems to help online transactions, like service requests or account applications, seamlessly move from online to a work queue accessible by either a branch or a contact center associate who progresses and fulfills the request.