Digital Onboarding Solution for Mashreq Bank, UAE
Mashreqbank, a leading financial institution in the UAE, sought to modernize and streamline its customer onboarding process. The manual, time-consuming processes were creating bottlenecks, limiting scalability, and increasing administrative overhead. Mashreqbank aimed to implement a digital onboarding solution that could enhance customer experience, reduce operational burdens, and increase the onboarding of new accounts, credit cards, and loans.
Story
Mashreqbank, a leading financial institution in the UAE, sought to modernize and streamline its customer onboarding process. The manual, time-consuming processes were creating bottlenecks, limiting scalability, and increasing administrative overhead. Mashreqbank aimed to implement a digital onboarding solution that could enhance customer experience, reduce operational burdens, and increase the onboarding of new accounts, credit cards, and loans.
In light of these challenges, Mashreqbank set ambitious goals for a digital transformation initiative that would enable a more efficient, secure, and customer-friendly onboarding experience.
Client
Mashreq Bank
Website URL
www.mashreq.com
Services
Sector
Key Highlightes
End-to-End Module Development
- Savings & Current Account Opening: Automation of account opening with validation checks and form-fill features to streamline the process.
- Credit Card Initiation: Enabled smooth initiation of credit card applications, including background checks and customer validations.
- Personal Loan Initiation: Simplified loan processing with integration of checks for customer information, KYC, FATCA, and other regulatory requirements.
- Data Verification & Deduplication: Each module was equipped with built-in checks for customer identity and deduplication before proceeding through onboarding stages.
Backend Integration
- Automated generation of PDF application forms and notifications for both prospects and the back-office team, reducing the need for manual intervention.
- Integrated with CRM and back-office applications for seamless processing and management of onboarding applications.
Sales Executive Module
- A dedicated module for sales executives enabled face-to-face customer onboarding.
- NFC-enabled devices were used to capture customer information directly from National IDs, speeding up the onboarding process.
Integration with National
Identity Authority:
The onboarding solution was integrated with the UAE’s National Identity Authority to capture publicly available customer information, allowing for auto-filling of forms and further reducing manual data entry.
Outcomes
Increased Efficiency
The digital onboarding solution reduced administrative workloads by automating form fills, data entry, and backend processes.
Scalability
With the ERP system in place, Mashreqbank could onboard more customers in less time, leading to a higher volume of new accounts, credit cards, and loans.
Improved Customer Experience
Customers benefited from a seamless, fast, and intuitive onboarding process, either in-person or remotely.
Regulatory Compliance
The platform adhered to strict regulatory requirements like KYC and FATCA, ensuring data accuracy and security.
UI & UX Design
- Our Works
Commercial Bank Of Dubai
Transforming User Experience and Modernizing CBD’s Digital Presence
Suntory
Driving Engagement and Loyalty Through Scalable, Incentive-Driven CRM Solutions
10+
VERTICALS
100+
SOLUTIONS
80+
TEAM MEMBERS
10+
YEARS IN BUSINESS
- Contact Us
303, Saheel Tower 2, Al Nahda 1, P.O.Box: 115387, Dubai, UAE.