Insights Thought Leadership

Simplifying and Protecting the Customer Self-Service Fulfillment Processes for Banks and Credit Unions

ARGO- self-service-fulfillment



The digital world of today has changed how consumers interact with their financial institution, which has forced the banking industry to shift their processes and how they interact with consumers through the various stages of the customer journey 

Banks historically have had a custodial customercare business model where they do the work for the customer. While this approach works well in a branch environment, it is not as successful in today’s customer self-service digital economy. In fact, we have seen that the traditional model would perhaps capture less than half of the positive opportunities with a customer and could actually generate consumer dissatisfaction, which is evident by the large abandonment rates, nearly 80 percent for fulfillment functions, the industry is currently seeing.  In today’s digital-centric world that greatly empowers the consumer, the industry must move functionality out to the consumer, which requires processes to be simplified while also protected.  

What exactly does simplify and protect the processes mean? First, the process must be time sensitive, preferably in the five-to-eight minute range from start to completion. Second, the user interface (UI) must be designed for self-service useThird, instead of expecting data entry perfection, partiallycompleted applications must be routed to an appropriate work queue for employees to assist in completionThese methods reduce abandonment probability.  

Some fulfillment capabilities and features that help the consumer complete the process more easily, include 

  • Prefill application data from any known CRM or account data.  
  • Electronic data collection, including taking a picture of a driver’s license or other ID and having the scanned data automatically populate an application. 
  • Ability to start, stop, or save an application, and continue from where you left off. 
  • Omni channel ability to start in one channel and finish in another. 
  • Proactive detection and intervention assistance using automated and humanbased methods. 
  • Workflow for ease in providing additional data or uploading of documents such as a secondary form of ID and proof of income. 
  • Electronic paperless processing and e-Signature to eliminate the need for paper and physical signatures. 
  • Flexibility with multiple funding options to accommodate the customer’s convenience. 
  • Automatic setup for additional services such as debit card, check order, overdraft protection, online banking, e -Statements. 

Banks and credit unions can benefit from these functions with the use of ARGO Connects, a customer journey centric solution for acquiring customers, nurturing and converting leads, ongoing customer engagement, fulfilling accounts, retaining, growing, and servicing for consumer and business customers in an Omni-delivery ecosystem.  

For more information, view ARGO Connects, Omni Channel Fulfillment

Download Connects Omni Channel Fullfillment Interview Brief