How to Make Customer Onboarding More Valuable for Financial Services

December 18, 2018 Eric Parrott

A male solutions architect and a customer becoming partners with a handshake to simplify the customer onboarding experience

How Customer Experience is Changing

Today’s customers are always connected and are quickly adapting to the latest technologies. Businesses that want to survive and outrun the competition have to connect with their customers and build and deliver apps faster to respond to increasing customer expectations. ​

Like in many industries, customer experience is driving transformation in financial services. As a result, a customer-driven approach requires a strategic shift in the ways financial services companies deliver value and innovate around each and every customer. 

To get there, financial services companies need to connect all their business processes and enable IT teams and business leaders to work together to quickly take action in near real-time.  

What is customer onboarding in banks and financial institutions? 

The customer onboarding experience for banks is often disjointed and inefficient. There aren’t clear roles between banks and customers - especially when it comes to who’s responsible for completing specific tasks. Beyond that, it’s difficult to track each party’s journey activity. 

Building trust. Inspiring confidence. 
Onboarding a customer is a key step toward establishing expectations. A great first experience builds trust and sends customers the message that you actively listen and care. 

The problem: A bad experience creates doubts and raises questions, leading to frustrated employees, angry customers, and lost business opportunities. 

The solution: A single platform that enables financial institutions to provide a faster and easier customer onboarding relationship that doesn’t majorly disrupt existing client relationships as it promotes new customer growth. The Customer Journey dashboard provides real-time tracking of customers through each stage of the onboarding process to prioritize engagement and outreach efforts, taking the guesswork out of customer relationship building. 

How to Lead Customer Experience

Customer onboarding expert walking through a client through financial services offerings on a laptop

Financial services capabilities have expanded thanks to the Financial Services Cloud, richer client information, improved service, and the integration of open banking standards. When combined with Salesforce technology, design thinking, and next-generation delivery, the opportunities to create positive customer experiences are virtually limitless. 

What are Salesforce Lightning Bolts? 
Salesforce Lightning Bolts are solution templates built for industries like financial services by an ecosystem of partners to help accelerate your time to market.

The Appirio Customer Onboarding Experience Bolt - This Salesforce Lightning Bolt provides a modern, streamlined onboarding experience for financial services users. This custom-branded community experience comes with built-in automation tools that guide users through each step of an immersive onboarding journey while integrated intelligence analyzes customer responses, enabling banks and other financial institutions to make persona-targeted product recommendations at the right time - at any point of the customer journey. 

An onboarding experience is more than just a branded experience or theme, it includes business logic such as objects, workflows, and configuration and provides industry best practices around specific use cases. 

Customer onboarding for commercial banks provides a customer experience and internal framework for managing the prospect to client lifecycle for small business banking customers and includes: 

An Onboarding Roadmap and Timeline - Provide users with a clear path to a successful onboarding experience and at-a-glance insights into where they’re at in their journey in real-time.

Guided Workflows - Simplify navigation through Salesforce Lightning Flow and guide users through each step of the onboarding journey. 

Automated Product Recommendations - Built-in, customizable logic automatically evaluates customer responses to produce intelligent and precise product recommendations. 

Customer Journey Dashboard - Track customers through each stage of the onboarding process to prioritize communication and outreach efforts, keeping customers engaged by delivering a more personalized experience.

The Benefits of the Appirio Customer Onboarding Experience:

  • Decreased implementation effort - less coding, more time to innovate 
  • Faster time to market and value
  • Transforms slow, manual, and outdated customer onboarding into a modern, streamlined experience
  • Makes sure banks and customers are on the same page and that things aren’t lost ‘in the shuffle’ 
  • Empowers banks to focus on what’s important: cultivating successful customer relationships
  • Accelerates the deal cycle
  • Can help speed up development and reduce project duration with prebuilt POC and assets 
  • A reliable solution built on the Salesforce platform featuring Lightning UX and Flow with baked in industry best practices for financial services, including security 
  • Increase transparency across your organization 
  • Makes it easy to add features and capabilities as your customer relationships evolve​

What makes Appirio different? 

The Appirio Customer Onboarding Experience for Financial Services is a native Salesforce solution that leverages the investment you've already made in the platform and skills and training. It’s flexible and easy to adapt to your own requirements using standard Salesforce configuration. By leveraging this prebuilt accelerator, you can save time and money while increasing the value of your Salesforce platform. 

Next Steps

For more insights into Salesforce Lightning Bolts and other solutions, check out the 
Explore the Appirio Salesforce Hub or get in touch with an expert to learn how to get even more value out of your Salesforce solution. 

About the Author

Eric Parrott

Eric Parrott is the General Manager of the Financial Services Practice at Appirio. He has direct responsibility for sales and account management for Appirio financial services clients in the US and indirect responsibility globally. His expertise includes customer relationship management strategy, Salesforce, and other enterprise cloud technologies, and Agile development methodology. Industry expertise includes banking, capital markets and wealth management. Eric's been with Appirio for over six years and has been focused on CRM consulting for almost 20.

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