Create an onboarding process for investment institutions with our Step by step instructions

Client onboarding process template for investment banking

Customer onboarding is growing steadily in the leading banks and financial institutions all encountering stiff competition in the market. All of them have to grapple to at least get a share of the growing market thereby introducing client onboarding. Until you can get a good grasp of the customer, you will not be successful in your business. Customer onboarding is a reality even for banks and financial institutions. Client onboarding offers the banks a great opportunity to expand to new areas, establish themselves as the best and acquire more members to deposit with them. To receive these benefits, it is important they streamline their onboarding processes and offer a customized client service.


Investment banking Onboarding process

A successful onboarding program takes a lot of work that must be intentional. It requires a strategy to show the customer that you know them; you are interested in their individual needs and that you will reward them for doing business with you. Until customers feel secure, they will not be interested in doing business with you. A few steps to follow for a successful onboarding are:

  • Appoint a program leader to oversee the onboarding process - This person in charge should be the single point of contact for the onboarding process. They should manage the budget, goals and measurement of the program's success and be the liaison between the product, channel and marketing departments. A strong leader should best fit this position to ensure there is a focus and observe disciplines.
  • Let onboarding incorporate even new accounts - Onboarding process is an ongoing process for both the current and new customers opening new accounts. All account types should be included in this process whether they are depositing accounts, loans accounts, small business, and investment services should include all of them. Other leading banking organizations even call for ancillary services such as online banking and bill pay and mobile banking etc. The bottom line is - do not leave any account out of the onboarding process.
  • Put the family cap on - those with more than one account in your bank are already family, and you should treat them like so. Work on many other incentives that attract much more people to open more than one account to get onboarding process flowing. Introducing mobile banking is one great tool that makes many of your customers enjoy easier access to services and makes onboarding a success.