Client Enrollment for SME & Corporate Banking
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.
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.