We literally can sense the irritation that goes hand in hand with endless back-and-forth document exchanges during client onboarding. If you’re in fintech – whether it’s a bank, P2P platform, payment platform, or broker – you’re all too familiar with the lengths and frustrations of traditional onboarding. It’s a time-consuming process for both your team and your clients.
Graip.AI, however, changes the game. What used to take days is now a matter of hours. It’s not just about speeding things up; it’s about improving the entire process for your organization. Your СОО, sales reps, and IT department will all appreciate the decision to embrace it.
Breaking Free from Document Ping-Pong
Traditionally, client onboarding in fintech has been a labor-intensive and error-prone task. Clients are required to submit an array of financial documents, including identification papers, proof of address, company registry extract, company structure, shareholder register, and many other onboarding documents. These documents then go through a manual data entry and processing ordeal, which can lead to bottlenecks, inaccuracies, and lengthy delays.
This traditional onboarding approach not only strains valuable resources but also jeopardizes customer satisfaction. In a world where speed and accuracy are essential, the old ways simply don’t cut it.
How Graip.AI Transforms the Onboarding Process
Graip.AI is a true game-changer when onboarding customers for fintech companies. Graip.AI employs advanced artificial intelligence (AI) algorithms to automate the extraction of data from a wide array of financial documents. Whether it’s IDs, licenses, proof of source funds, or any other submitted document, the tool streamlines the process for unparalleled efficiency.
So, what exactly can Graip.AI’s advanced AI algorithms do for your onboarding process? They encompass the automation of customer onboarding and application processing, along with automating missing data requests. Here’s the breakdown:
Reduced Time and Resources: One of the most significant benefits of Graip.AI is the substantial reduction in both time and resources required for onboarding. What used to take days can now be accomplished in a matter of hours.
Minimized Error Risks: Manual data entry often leads to errors, which can have far-reaching consequences. Graip.AI ensures accurate data extraction, minimizing the risks associated with human error.
Expedited Approvals: Faster data extraction and processing mean expedited client scoring and approvals. Delays caused by data errors are virtually eliminated.
Enhanced Customer Trust: Accelerated onboarding processes increase trust with your clients. In the fintech world, trust is the cornerstone of every successful relationship.
The Graip.AI Process: Turning Complexity into Simplicity
The journey begins when a client submits or uploads their documents through a website or via email. Graip.AI swiftly steps in, retrieving, processing, and extracting information from these documents. If some of the information is missing, the tool requests any missing details from the potential customer via email, and processes the answers.
After processing all the data the customer submits during the onboarding process, Graip.AI can send it to the system of your choice, (e.g. CRM), or creates a downloadable file from a predefined template. This integration isn’t just about data transfer; it’s about orchestrating a flow of information that optimizes operational efficiency for fintech companies.
The Missing Data Hassle
In addition to automating data extraction, Graip.AI tackles the eternal issue of missing data. It’s not uncommon for clients to submit incomplete documents, leading to frustrating back-and-forth exchanges to gather the necessary information. Graip.AI’s capability to address this issue is one of its standout features.
In scenarios where necessary data may be missing from provided documents, the platform takes the initiative to send personalized emails to data providers or responsible individuals requesting the required information.
This automation streamlines the process of data completion, ensuring that all necessary data is collected from clients, partners, or vendors in a timely, efficient and client-friendly manner. The platform allows direct engagement with document senders without the need for an external email client usage and received data will be neatly grouped and organized.
The result? Onboarding processes that take just a few hours instead of days or even weeks.
With Graip.AI fintech companies can enjoy:
- Reduced processing time
- Revenue and sales growth
- Increased customer satisfaction
- Lower advertising costs
- Elimination of errors thanks to the absence of manual data entry
- Ensured regulatory compliance
- Avoidance of costly penalties
And one more thing about data. We understand the critical importance of data security in the fintech world. That’s why Graip.AI has attained ISO certification. This certification underscores our dedication to securing company data – making sure it stays not only safe but also private, accessible, and shielded from any unauthorized entry. It’s important to highlight that Graip.AI, as a company, does not have access to customer data either, further bolstering the data’s security.
The Graip.AI Advantage: Smooth Onboarding and High Customer Retention Rate
At Graip.AI, we understand that efficient onboarding is not just a process; it’s the first step in building a successful relationship with your clients. Smooth and streamlined onboarding sets the tone for excellent service and customer satisfaction.
Our advanced AI algorithms swiftly process key documents, resulting in a 50% acceleration in the customer onboarding process. This streamlined process has led to a 30% rise in customer satisfaction and a 25% increase in customer retention rates. These improvements signify a strengthening of long-term loyalty among clients.
Furthermore, Graip.AI has transformed the way financial organizations extract valuable insights from vast amounts of data. By analyzing and processing critical documents, such as financial statements and credit reports in real-time, Graip.AI provides actionable insights that drive smarter decision-making.
Tailoring Graip.AI to Fit Your Fintech Needs: Customization and Integration
Fintech isn’t one-size-fits-all. It offers high customization, tailoring its capabilities to suit specific needs. Fintech companies can integrate Graip.AI into their existing systems with ease, minimizing disruption to their workflow.
This level of flexibility not only streamlines the onboarding process but also enhances overall operational efficiency. Whether it’s adapting to specific document formats, data sources, or compliance standards, Graip.AI ensures a personalized and efficient onboarding experience.
Its seamless integration with diverse systems underscores Graip.AI’s commitment to delivering fintech companies a tailored and efficient solution for client onboarding. —
In a fintech world driven by speed and accuracy, Graip.AI is your digital transformation powerhouse. Fintech companies are increasingly recognizing the need to expedite client onboarding, and AI-powered solutions like Graip.AI are aligning perfectly with this trend.
In the face of increasing regulations and a flood of data, it’s crucial to quickly and accurately handle important documents. Graip.AI’s advanced AI algorithms address this challenge head-on, ensuring not only efficiency but also precision in data extraction. By embracing Graip.AI, fintech companies position themselves in harmony with the prevailing trend of leveraging AI to enhance operational efficiency and meet the escalating demands of the digital era.
With Graip.AI, fintech companies can accelerate their onboarding process from days to mere hours.
Are you prepared to transform your onboarding process and impress your clients? Discover how by experiencing Graip.AI for yourself!