End-to-End Digital Account Opening Deployment in 3 Weeks

Digital Account Opening

Today, a lot of digital banking solutions are conjured as a knee jerk reaction triggered by the current state of the market or because of the changing business landscape due to a new disruptor. In both cases, one aspect remains a constant – these banks are trying to bridge the missing gaps between what is lacking in terms of their legacy offerings and what their customers are expecting. And this approach doesn’t work. According to McKinsey, “70 percent of complex, large-scale change programs don’t reach their stated goals.”

While the intent here is good, it’s not good enough. The mindset of the customers and those that built the legacy systems are not the same. Hence an approach that starts by trying to fill in the missing gaps would best result in an earnest effort that’s not simply good enough.

This is because, the architects of the solution are experts at what they do and the end users simply expect the solution to perform a few tasks of their preference in the simplest possible way. So what would normally happen is that banks would try to build a super app that has all the best features and fits perfectly into a mobile screen while all the user would have expected is a simple interface to get things done. Clearly, there is too much effort going in with very little output. Another approach is to replicate what successful banks are doing. However, one must remember that one size never fits all approach. Institutions must cleverly understand their customer base and build solutions that perfectly match and then exceed their customers’ expectations.

Recently, one of the best run banks in Bangladesh approached us for a digital transformation initiative. They wanted to transition their existing traditional paper based customer onboarding process into a digital one that ensured personalized and delightful user journeys.

The narrative here was clear – we not only had to deliver a digital onboarding solution that surpassed the expectations of both the customers and the bank but also had to deliver the solution in a short time.

The bank decided to partner with i-exceed as its digital transformation partner for this initiative due to our track record in delivering rapid digital banking transformation in record time. We have the ability to do this because of our in-depth understanding of the banking sector and due to the technical superiority of our development platform.

The bank decided to build ‘MEasy” using Appzillon Customer Onboarding Solution. It would be a web-based self-service app with responsive design that includes integration with Bangladesh’s National Id database for e-KYC, emailing of auto generated customer onboarding form, and other standard integrations with the bank’s ecosystem. The solution also includes a back office module which include multi-stage multi role workflow engine, where the customer application goes through multiple stages of verification and correction.

A little about Appzillon – Our flagship offering is a unique combination of a low-code digital experience platform and pre-built digital banking solutions. This aspect helped in rapid development of the solution deployed at MTB. The development team extracted the essence of the final output and rapidly customized the solution with an attractive UI/UX that perfectly addressed the bank’s business requirements and met regulatory requirements. The outcome was a light weight app that delivered outstanding personalized engagement and performance.

Using i-exceed’s platform, MEasy was delivered in a record time of 3 weeks to user acceptance testing (UAT). The fully digitized customer interface provides a cutting edge, hassle-free, personalized, and holistic digital banking experience.

To know more about how Appzillon can help you in your digital transformation endeavors, get in touch with us at marketing@www.i-exceed.com. We look forward to being part of your digital journey.

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