Guiding Your Financial Institution Clients Through the Onboarding Process

A few decades ago, people would choose a financial institution based primarily on location, and bank with the company with the closest branch to their neighborhood. Today, financial institutions face intense competition from across the street and around the country as consumers go online and find options for banking, savings, investing, loans, and more from a wide range of online and brick-and-mortar institutions. Many are feeling the crunch and turning to innovative new solutions that can help them stay ahead of the competition.

If you have a product that you sell to financial institutions to improve the way they attract and retain clients, it’s important to understand how to onboard your financial clients to maximize the use of your products and services so they can maintain that competitive edge.


Adopt Their Successful Strategies

The best financial institutions know that there is a critical window when a new customer decides to work with you that you need to maximize the relationship and demonstrate value. Many reach out to customers within the first few minutes of new account set up and offer information to help the person take important next steps, like setting up an online profile and making the first deposit.

If you sell products to financial institutions, you should have the same process of reaching out right away, developing a relationship, and guiding them through all the steps (like that customer who makes a first deposit) from start to finish. With good onboarding processes that determine how they plan to use your products, how they define success, and how your offerings will improve their business, you can guide them in the right direction.


Be Transparent Through the Process

As soon as your financial institution client signs the contract, it’s important to help them see and understand the entire onboarding process. Transparency is a valuable tool that helps them visualize all the work your team is doing behind the scenes and know when the promised deliverables are coming.

For many companies, transparency during onboarding is a challenge and requires someone to manually compile information about activities and communicate back and forth via email with the new client to show progress. The alternative of no communication is even worse, leaving clients feeling abandoned. GuideCX’s platform is different, giving clients insight and the ability to connect with you throughout onboarding.


Achieve TTV Quickly

Helping your financial institution clients see success early—a short time-to-value—is important to build a lasting relationship. Just like the customers, they work with, your financial institution clients need to see value from your products quickly. The sooner they identify an ROI, the more likely they will upgrade, buy again, or buy more in the future.


Improve Your Financial Client Onboarding

GuideCX offers a new way to onboard that is setting a new standard for companies that sell to financial institutions. To find out more about how it can work for you, schedule a demo today.