Overview

The Institutional Onboarding app demonstrates how an important process within Financial Services can be fully digitalized in an user-friendly way. This is done by leveraging the speed and agility of building apps with Mendix and smart connectors to accelerate the onboarding process and enrich customer data.

Institutional Onboarding is a process in which a business (also known as a commercial/corporate customer) is onboarded at a Financial Services company like a bank. This usually is a complex, multi-step process that requires lots of physical paperwork to be filled in, by both the customer and the financial institutions’ Customer Engagement Manager. The process usually lacks cross organizational transparency and takes a long time to complete because of strict regulatory requirements.

The Institutional Onboarding app offers the Customer Engagement Manager a streamlined, fully digital experience to quickly onboard an institutional customer and guide them through the steps of the process, including company details, products and services selection, authorizations and ending with a digitally signed DocuSign contract, completing the standard onboarding process.

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Documentation

Institutional Onboarding Process

The application enables a Customer Engagement Manager to fully digitally complete the onboarding process for their new customer. Including;

• Onboarding Overview: Quick overview of the current onboarding process steps and their completion status.
• Business Profile Information Gathering: Includes Company Registration Number check (Employer ID Number (US) and KVK-number (NL)).
• Product & Services Overview: Smart selection of Products and Services based on annual turnover and headcount.
• Authorizations: Registration of Authorized users, their roles and the security measures. 
• Signees & Contracts: Digital signing of a contract through DocuSign.