Insights Thought Leadership

Simplifying Self-Service in Today’s Omni-Channel Environment

Simplifying Self-Service in Today’s Omni-Channel Environment


Omnichannel, Predictive Analytics, Fulfillment

In today’s customer self-service digital economy, the customer is greatly empowered. As the industry moves functionality out to the consumer, FIs must simplify and protect the process. Implementing an automated Omni-channel delivery fulfillment solution helps FIs streamline processes and meet customer needs.

Even with an automated system in place, FIs need to ensure steps are taken to meet the demands of today’s consumer. The first step is ensuring the process is time-sensitive, preferably in the five- to eight-minute range from start to finish. Second, the user interface (UI) must be designed for self-service use. Third, instead of expecting data entry perfection, partially completed applications should be accepted, placed in a work queue, and then have employees assist in completion. These methods reduce abandonment probability.

Fulfillment capabilities have several “accelerator” features that help the customer complete the process more easily, including:

  • Pre-fill application data from any known customer 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 transactional interconnectivity—the ability to start in one channel and finish in another;
  • Proactive service-error detection and intervention assistance using automated and human-based methods for resolution;
  • Workflow for ease in providing additional data or uploading 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; and
  • Automatic setup for additional services such as debit card, check order, overdraft protection, online banking, e-Statements, and more.

Today the industry has about an 80 percent abandonment rate for fulfillment functions. Besides being enormously costly, it generates customer dissatisfaction, resulting in a diminished reputation. Using a solution to help simplify processes and empower consumers is crucial to eliminate abandonment issues in today’s environment.

For more information, download the Omni-Channel Fulfillment interview document.

Download ARGO's interview with David Engebos