Digital Onboarding – Definition and Insights on How it Works?

Digital Onboarding

Digital Onboarding

Digitalization has brought both customers and service providers closer like never before by fast-tracking the process of onboarding and immediate access to the services. Apart from the convenience standpoint, digital onboarding has become compulsory due to lockdowns and restrictions during the covid-19 pandemic.  

However, this process step has significantly improved both business and customer relationships. More importantly, digital onboarding solutions facilitate minimal manual intervention, reducing pressure on the employees. This solution is viable for employee background verification for identifying the identity-related details provided by the candidates, including ID check, address, facial recognition, etc. But it is crucial to get in touch with the agency you have selected to learn about employee background verification in detail, as it is critical. 

Definition of Digital Onboarding:

Digital onboarding is an online method of enrolling new customers by checking the provided information digitally. Through digital onboarding solutions, a user will provide the necessary documents and details, which will then be verified and validated against various databases and relevant professionals. Subsequently, the customer gains access to the services and products offered by the organisation. For instance, it could be regarding loans, bank accounts, insurance, etc., with banking institutions. In addition, digital onboarding is a secure way of onboarding new recruiters and ensuring the identity and the documents submitted belong to the same individual.

Types of Onboarding:

  1. On-Site Onboarding: It is a traditional method of onboarding where the customer physically visits the offices provides the necessary documents to avail of the services 
  2. Semi-On-Site Onboarding: Here, the company allows digital uploading of the documents, but still, the customer has to come to the office to finish the onboarding process 
  3. Digital Onboarding: It is the best method of customer onboarding where the entire process gets carried out remotely, and the customer can get it done at the comfort of their home. 

The Process of Digital Onboarding:

It begins with a digital online platform of the company either done in-house or outsourced to a third-party vendor who offers top-notch digital onboarding solutions. This facility will help the organisation convert potential leads into loyal customers. A typical Digital Onboarding process includes the following steps, 

  1. Customer details capturing 
  2. Some basic training provided for the customer on how to use the products and services 
  3. Introduce CSM to the customer 
  4. Integrating the product with the customer’s environment 
  5. Giving a walkthrough of the product 
  6. Creating an effective roadmap to accomplish the customer’s goals   

The above steps would involve physical interaction between the organisation’s officials and the customer in the traditional onboarding process. Also, there is a lot of time required to complete the tasks, which will consume more time for both parties. With digital onboarding, most tasks are performed remotely with the help of a laptop or mobile device, and the tasks will be completed within a few minutes, saving both time and money for the organisation. Moreover, customers can start using the services immediately.

Benefits of Digital Onboarding:

  1. The entire process will be streamlined 
  2. Physical interaction between customer and organisation can be eliminated 
  3. It reduces costs 
  4. The digital footprint will help to backtrack very easy 
  5. Reduced errors 
  6.  Faster approval
  7. Better relationship between customer and the organisation 
  8. Employee background verification time will be drastically reduced 

Most companies have implemented digital onboarding solutions for  background check  and customer onboarding. As we are moving into a fast-paced lifestyle, digital onboarding is the only way to move forward that will benefit both the organisation offering the products and services and the consumers who avail their services.