8/9/2019 IBM Banking: Transformed Account Opening With Streamlined Banking Processes

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IBM Sales and Distribution

Solution Brief

Banking - Front Office Solutions

Account opening forbanking

Enhance your account opening experience to keepmore customers

Highlights

Provide a faster, more convenient andinnovative customer experience by

leveraging known information and

insight

Offer additional value with targeted

products and services based on antici-

pated needs and desires

Leverage channels, such as smart

phones and ATMs, in new and innova-

tive ways

Allow the customer to interact in a

seamless manner across all channels

Lower account opening costs and gen-erate higher annual revenues

Account opening is a critical customer-facing function that sets the

tone for your customer acquisition and customer relationships. But

account opening and maintenance are significant cost centers. To

increase revenue and help ease cost concerns, leading banks are lookingto transform their account opening activities at the enterprise level.

IBM can help improve this critical process.

Open the door to easier bankingA new generation of customersaccustomed to increasingly innovative

retail experienceshas expectations of more satisfying and faster inter-

actions with financial institutions. For example, you could offer credit

card applications via a mobile phone, with approval in just minutes. Or

use an ATM to extend personalized offers such as account upgrades or

reward opportunities, and then allow the customer to accept or learn

more right there. Because, after all, superior customer service retains

more customers and the account opening solution for banking from

IBM can help.

Leverage the information and insight that your institution already has

regarding a customer, such as current products, recent purchases or

change in life events. You can proactively offer personalized, targeted

offers and recommendations. Your customer will recognize and value

the fact that they are understood individually and the relationship will

be strengthened. Increased revenues from that relationship generally

follow.

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Maximize the customer experience by allowing the customer to get

through the account opening process in a continuous, seamless manner

across all channels. For example, begin a loan application on the

Internet, then transition to a client service representative (CSR)

in the contact center to get help with some questions regarding theapplicationwithout having to reenter informationand then allow

the customer to go into the branch location to meet with a sales associ-

ate to finalize the request and provide the required signature. The sat-

isfaction of this kind of seamless experience is a key factor in building

long-term customer loyalty and advocacy.

Build on a solid foundationThe account opening solution is based on the IBM Banking Industry

Framework, which provides a solid, comprehensive platform upon

which to build the capabilities that provide the functionality and level

of service described above. Transform your IT environment to supportthese new capabilities while reducing operating costs by:

Creating a single view of the customer within your enterprise. Presenting the optimal information and functionality to each bank

employee through a role-based integrated workplace to enable a

superior customer experience. Automating and reusing business processes across channels for less

development and maintenance costs; using external business rules to

greatly enhance the agility of the defined processes. Managing all aspects of a business process from a single viewpoint

from start to finish.

Digitizing documents and submitting them to an enterprise contentrepository so they can be easily leveraged across the enterprise.

Distributing documents to customers digitally and allowing them to

sign documents electronically, shortening and transforming some

business processes. Using customer analytics and insight to understand who your prof-

itable customers are and focus on them. Eliminating duplications in systems and data.

Our consulting teams will work with your to construct a tailored

account opening solution that can help streamline, compress and digi-

tize your processes. We can help remove the duplication of effort that

increases operational costs; eliminate the lengthy application processthat can lead to unsatisfied customers; and give your staff more time to

focus on building relationships and selling products and services.

For more informationTo learn more about the account opening solution for banking, please

contact your IBM representative or IBM Business Partner, or visit:

ibm.com/banking

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