An integration between two of pbDigital’s software platforms makes it possible for financial institutions to digitally onboard customers in record time.
A recent integration between SignFlow and pbVerify has created a platform for digitally onboarding customers that is about to change the way credit is granted –in terms of risk management, compliance and convenience.
Although pbVerify has offered digital onboarding – an advanced customer activation product designed for financial institutions – for some time, never has this tool been as powerful as it is now, with the incorporation of SignFlow digital signatures.
Digital onboarding was introduced specifically to A) improve the customer experience by making it easier for them to activate and use financial services products, and B) give financial institutions a more secure and scalable means of growing their business.
That said, it makes no sense for institutions and their customers to have to switch back to manual halfway through the digital process of onboarding, to finalise the process with signatures – the old way of doing things.
Since pbDigital is all about innovation, meet the new way of doing things…
Now, with pbVerify’s integration with SignFlow, you can say goodbye to the expensive and onerous manual methods associated with finalising the process of customer onboarding – printing of forms, signing by hand, scanning, uploading and emailing – and say hello to a new fast and fail-safe system that allows institutions to onboard customers entirely online, in a fraction of the time and at a fraction of the cost.
No longer do red tape and geographical circumstances play a part in how long it takes to finalise the onboarding process. With SignFlow, it is simply a case of sending the completed online form to the designated signatory or signatories for approval – all via a secure, legal online platform. No more physical records, no more running around, no more waiting – and, most importantly, no more jeopardising of customer data.
Compliance & security
In today’s legal milieu, with the Financial Intelligence Centre Act (FICA) of 2001 and the Protection of Personal Information (POPI) Act of 2013 binding businesses to stricter data protection criteria than ever before, there is no margin for mistake.
With pbVerify and SignFlow behind your onboarding process, FICA and POPI compliance concerns are a thing of the past.
These software platforms – now integrated into one seamless onboarding solution – offer financial institutions an efficient and guaranteed means of making sure business processes and IT systems comply with the law when dealing with customer data.
This is how our new onboarding solution works, in a nutshell:
Front-end: Customer Online App
- The customer fills out pbVerify’s intelligent digital onboarding form (complete with auto-population and including Home Affairs/CIPC verification, as applicable).
- Details of the designated signatory or signatories (approver/s) are entered.
- The signatory/signatories are notified pbVerify has received a customer activation form, of which they are the listed party/parties responsible for sign-off.
- The said party/parties follow the link provided, and sign the application form online using SignFlow.
- The application process is complete.
Back-end: Admin/Credit Control
- Once the customer has completed the application, admin/credit control will get notified of a pending application and can log in to the admin portal, in order to run the required credit and compliance checks.
- The digitally-signed agreement/contract can be downloaded online for review and compliance validity confirmation.
- If required, different checks can be generated such as CIPC, Bank Code Updates and Full Credit reports.
- Once checks are done, the system can notify the relevant department of the application status and pending credit facility.
NOTE: All internal checks are scoped according to customer-specific scope and requirements. This is all customisable, according to business’ specific needs.
Welcome to the future of digital onboarding – an error-free, fast, secure way of procuring new customers.
ABOUT OUR COMPANY
pbVerify and SignFlow are products of pbDigital, a division of customer communications firm PBSA.
pbDigital is the software division of PBSA, which specialises in a range of software products designed to help clients communicate more efficiently with their customers.
pbDigital’s software offerings can be classified according to the following categories:
- eSign document workflow, digital signature and PKI integration solutions (SignFlow https://www.signflow.co.za/)
- Credit risk management, data & credit bureau API integration and customer on-boarding
- Enterprise content and document management
- Business process automation software with multi-channel output tools and workflow
With a rich history of innovation dating back over 90 years, PBSA (formerly Pitney Bowes SA) is a leading customer communications company, offering software, equipment and services to help companies improve operational efficiencies and connect with their customers in more meaningful ways.
Based in Midrand, Gauteng, PBSA understands both hardware and software solutions and is optimally positioned to provide a secure, committed support infrastructure to its Southern African customer base. The company’s solutions help companies engage customers, gain business insight, manage document workflow and ultimately optimise overall business performance.
PBSA believes innovation and growth go hand-in-hand with long-held ideals such as collaboration, integrity and accountability.
PBSA embraces the fast-changing world of technology, which today sets the tone for the business going forward. The company has transformed – and continues to transform – from a purely paper-based to an integrated digital business that serves the market through its own time-honoured patented technology and an extensive network of channel partners.
Everything the company does has one goal – to help its clients communicate more effectively with their customers.