○ E2E Digital Current Account Onboarding for Sole Proprietors Qorus-Infosys Finacle Banking Innovation Awards 2024
IndiaCategory
Reimagining the Customer ExperienceKeyword
Customer acquisition & loyalty, Customer experience, Operational excellence & efficiency, Transformation, Digital channels & Omnichannels, SME Banking
Innovation presentation
The E2E Digital Current Account Onboarding for Sole Proprietors is a groundbreaking initiative by Axis Bank that revolutionizes the traditional banking process for small business owners. Launched on January 3, 2022, and spearheaded by Suchismita Gupta, Vice President, this project aims to create a seamless, paperless, and contactless onboarding journey. The bank's vision is to support SMEs by providing a quick and efficient method to open current accounts, reducing the process from 15 days to just one day. Utilizing APIs for document verification and incorporating video calls for authenticity checks, this initiative enhances customer experience while significantly increasing productivity and reducing acquisition costs.
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