Optimizing Digital Onboarding Initiatives with Mobile Scan and Capture

Optimizing Digital Onboarding Initiatives with Mobile Scan and Capture

Many of today’s customers view mobile capabilities as an expected service rather than an added bonus. The number of smartphone users worldwide is forecasted to grow from 2.1 billion in 2016 to around 2.5 billion in 2019, with smartphone penetration rates increasing as well.*These staggering statistics make it even more apparent that mobile scan and capture technology is a valuable tool that you should be using in your digital onboarding initiatives.
Real-time mobile engagement is a prime way to attract and engage new and future customers as well as retain your current ones. By using the camera on their mobile device, customers can perform a wide range of imaging tasks such as scan a photo of a driver’s license to open a new account, pay bills by capturing data from a statement, make payments by obtaining data from a credit card, deposit checks, and much more.

Banking and Insurance Industries

Two key businesses, in particular, that are capitalizing on mobile scan and capture technology are the banking and insurance industries. Customers do not want to endure a long, arduous process when applying for new insurance policies, bank loans, mortgages, savings accounts and other essential services—nor should they have to. By employing flexible, real-time tools such as mobile capture, your customers can quickly and easily conduct their banking or insurance business anywhere, anytime just by using their smartphone or tablet’s camera.
Patented image processing and on-device OCR (optical character recognition) technologies automatically capture, extract, and validate information from traditional paper documents, eliminating the need to input data manually. This process enables your business to switch from physical to digital onboarding by capturing process-ready documents, automating identity and other verifications, gathering e-signatures, automatically integrating with in-house and external systems and communicating in customer channels of choice. Moreover, all of this can be done from a single platform.

Mobile ID & Capture

Customers are required to provide specific information, such as a driver’s license that validates their identity when applying for bank loans, savings accounts or various types of insurance policies. Mobile identification and capture enable customers, who fill out documentation via your bank or insurance company’s website, to take a photo of their driver’s license directly from their smartphone. Mobile capture extracts a customer’s data from their driver’s license, which will be compared to the DMV database to confirm their identity. The data securely populates the information directly onto the customer’s forms. This process, which once took hours of paperwork and manual intervention can now be completed in about 10 seconds.

Empowering Customer Self-Service

Thanks to the flexibility of mobile capture, banking customers can conduct safe and secure on-the-go transactions such as paying bills remotely, making mobile deposits, checking their balances and transferring money directly from their smartphones. Mobile capture tools promote customer self-service without the need to physically step into a bank or conduct banking business within a specific timeframe. Customers can handle their banking needs from anywhere in the world which is ideal for frequent business travelers.

Furthermore, arming your customers with a solution that enables them to take a photo of their mobile credit card or debit card to fund a new account at a bank or pay for goods and services from a merchant eliminates friction from the payment process. Additionally, this tool supports both in-app and mobile browser payments and is the only server-side solution in the marketplace that reviews data from payment cards. This is vital since a majority of mobile onboarding is done via the mobile browser, thus making a server-side extraction solution essential.

As smartphone usage continues to grow, the need to implement mobile scan and capture as a fixed feature in your customer service offerings becomes even more critical. Having a tool that customers not only want but expect to have available to them will prove to be extremely valuable in your digital mobile onboarding efforts.

Interested in learning how mobile scan and capture can optimize your digital mobile onboarding initiatives? Contact us today, and we’ll show you how.


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