One of the most critical areas of the customer journey in banking is the application process. This is the process whereby the customer will apply for a particular product or service.
The application process involves providing details like name, contact information, financial information, etc and may require the uploading of documentation to verify those details. During this process, the professional institution will perform the usual identity, fraud, credit and risk checks to ensure they can do business with the customer.
Working in this space for many years, Temenos has identified a number of “Best Practices” to ensure that the application part of the journey is effective. In this multi-part article series we will look at 10 of the most important practices that we encourage clients to follow when designing their application journeys.