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Client Enrollment for SME & Corporate Banking

VeriPark

Corporate Banking
Corporate Onboarding
Providing a guided process for onboarding new clients on assisted channels.
Corporate Banking
Corporate Onboarding
Providing a guided process for onboarding new clients on assisted channels.

A web-based, rule-driven system that enables banks to onboard corporate customers to all of the bank’s corporate systems, including all the Finastra Corporate Banking products (Channels, Lending, Cash, Trade). 

VeriTouch overcomes today’s compliance risk, tedious customer experience and high operational cost of fragmented complex onboarding, with consolidated, compliant onboarding across all systems, smoother customer interactions from the operations team, and lower operational costs.
Banks’ corporate customers expect a quick and frictionless onboarding journey, and despite an increase in applications processed, banks are under increasing pressure to reduce operational costs. In addition, KYC regulations are getting tighter and often
differ from one country / region to the next, which further adds to the complexity.

End-to-end onboarding

The lack of unified records and audit trail across the various services provided to corporates (across cash, trade, lending) puts compliance at risk. However, with pre-integration to Finastra’s Connected Corporate Banking products and with many other CRM and digital channels products, VeriTouch offers a system-driven workflow that helps overcome compliance risk.

Simplified customer experience driven by a business rules engine

Time-consuming and complex onboarding process can prevent new prospects from signing up. However, by using a business rules engine, banks can reduce intricacy and increase customer satisfaction via standardized policy checks, validations and decisions per KYC type, exception management, approval matrix, and a process configurator.

Automation for cost reduction

With manual processes operating across multiple, siloed systems and departments, many banks suffer from significant costs related to onboarding. However, paperless, end-to-end onboarding caps costs even with higher volumes.

Company Verified

General information

Commercial model
Resell
Integration
Integration coming soon
Fusion Corporate Channels
doneAvailable for all 3rd party systems
Implementation
Cloud Hosted | On Premise
Website
Data processing countries (1)
United States of America
Show all

How it works

The application is built using VeriTouch, which is a vertical Customer Engagement (CRM) solution built on top of Microsoft Dynamics 365, optimized with industry best practices. The solution can be deployed via an online implementation (Dynamics 365 CRM SaaS + Microsoft Azure) or on-premise.

Onboarding

Enroll new customers and perform account opening by using standard FACTA fields and out-of-the-box flows, supporting KYC capture for full customer details.

System analysis

You can run different systems checks, such as CBR&L, internal blacklists, World-Check / AML and compliance approvals, and also perform de-duplication checks, relationship mapping with existing customers and corporate hierarchy definitions.

Keep an eye on the submissions

The solution allows users to maintain document lists and track documents submissions and integrations with the bank’s document management system. Plus they can create tasks for signature capture or integration with a signature verification system, make customer information file (CIF) updates, as well as display eligible products for up-sell and cross-sell.
How it works

How it looks

Client enrollment overview

Capture a new client’s details and perform regulatory KYC data capture posting the information to the core banking system. Show less

System checks

Complete various system checks during the account opening process and check blacklists for stakeholders. Show less

Data entry overview

Capture the new account details including currency, name and address, plus power of attorney or signatories. Show less

Document checks

Any documents submitted upon enrollment and account opening can be maintained in the CRM. Show less

Document checklist

Checklists can be configured to display the required steps and items for users to fill before submitting the enrollment request. Show less
screenshot container
Client enrollment overviewSystem checksData entry overviewDocument checksDocument checklist

Client enrollment overview

Capture a new client’s details and perform regulatory KYC data capture posting the information to the core banking system.