CASE STUDY

Comprehensive banking platform for enhanced customer experience

One of New Zealand’s leading commercial banks with over 175 years of experience has gained them more than 1.3 million personal, business, and rural customers.

Challenges

Delayed time-to-market due to tedious and complex compliance reviews
Lack of streamlined process to onboard a customer
Lack of centralized system to provide up-to-date information to all stakeholders
Lack of visibility on onboarding status
Legacy systems for updating critical customer information
Delayed throughput due to multiple follow-ups from various stakeholders
Disintegrated tools limiting enterprise systems

Outcomes

Enhanced customer interaction with 40% reduction in onboarding time
Improved process efficiency and customer experience
Enabled customers to onboard faster in an intuitive, accurate and compliant manner
Enable customers to easily update their compliance-related information
Provided a single view of compliance and onboarding status of each customer
Guided each customer’s compliance requirements
Improved data integrity, accuracy, and speed of onboarding with audit trail for compliance and security

Abstract

We at Areteans deployed NextGen CLM to enable smooth onboarding and dynamic verification processes. The modular solution fixed tedious, complex compliance reviews to provide a centralized system for faster onboarding.

Our team improved process efficiency for transparency and traceability. We enabled our client to orchestrate enhanced customer experience with improved data integrity, accuracy, and speed.

Benefits

Improved customer interaction with 40% drop in onboarding time
Simplified KYC and risk assessment for transparency and traceability
Amplified customer experience