Account Opening Workflow

Banking: Account Opening Process using DocPro Workflow

Customer onboarding is a very important process in any industry, but more so in banking, as banks have many cross-sell opportunities. With a seamless onboarding experience, a bank is more likely to foster a positive consumer experience, that helps to differentiate your institution and build a long-lasting loyalty.

The very first step in customer onboarding is account opening process. DocPro ensures the application form processing workflow is seamless and offers you end-to-end visibility.

DocPro allows you to configure the workflow for your various account types be it Savings Account, Current Account, Loan Accounts etc.

DocPro offers you the flexibility to create complicated workflows so that you can benefit from complete automation of your account opening process.

Benefits of Scanning Workflow System:

  • End to end automation right from source to activation
  • Eliminate inefficient and time-consuming movement of physical forms
  • Complete visibility of the process which allows to react quickly to lapses
  • Streamline and allocate manpower resources dynamically based process requirement
  • Secure and controlled flow of data without any breach
  • Manage and monitor man power efficiency and effectiveness
  • Easy integration with cKYC and Aadhar

Process Buckets

You can configure various buckets in the workflow and define rules for movement of the forms between the buckets. Some of the buckets that you can configure are as follows:

  • Scanning: Scan the forms at the source. The account opening forms with the account holder forms are typically generated at your branches. Scan the account opening form, account holder form, and attachments like the POI/POA etc at the source.
  • Re-Scanning: In case it is noticed in the later staged of the process that the forms are not scanned properly they can be routed to the Re-scanning bucket.
  • Scrutiny/Inspection: The forms are scrutinized/inspected in this bucket to ensure that the form is complete in all respects and all attachments are as required. If the forms and/or attachments are not as per specifications then the forms are sent for Re-scanning with remarks.
  • Data Entry: In this stage data entry users enter the data in the forms. The data entry forms can be configured with various validations as per your requirement. Each field in the data entry form can be mapped to a zone on the image of the account opening form which makes it easier for the data entry user to identify the correct data to enter without spending time in searching the information on the image.
  • Approval: The forms approved by authorized users for further process.
  • Branch-Customer point verification: Customer point verification may be required for some cases. The reports for such cases are uploaded in the system.
  • Auditing/Verification: Audit of the process is a statutory requirement in many banks. You can define your audit parameters and DocPro will assign such cases to the audit bucket.
  • Activation: Finally, all the forms that fulfill all the process parameters will be assigned to the activation bucketDocPro workflow can be integrated with CKYC and Aadhar.DocPro can be easily integrated with your Core Banking System.The access to roles and rights can be configured through a web application.

Account Opening Sample Workflow