It refers to the process of verification of new customers digitally. It is done online as many companies are shifting online so there is a strong need for digital onboarding. It works by starting with setting up the account of a new customer, training them to use the system properly, providing them access to various tools, and lastly supporting them if they find anything difficult during the whole process. 

In addition, digital onboarding is crucial when it comes to various factors like user retention, loyalty, enhanced productivity, lower support costs, and adaptation to new changes. These can make the user experience better and maintain productivity throughout. 

Main Components of Onboarding

Effective digital onboarding solutions are crucial for maintaining productivity between companies and customers. Here are some of the primary components that may help in effective onboarding such as:

• Pre-onboarding Process

It includes sending welcome messages or greetings to new customers. This email or message may also contain content about what they can expect from the company and the process. It also involves access to various tutorials, guides, and other relevant stuff. 

• Education and Awareness

Customers should be given thorough training on how to use the platform. This education includes step-by-step guides, tutorials, webinars, live demos, articles, and videos. 

• Platforms Integration

The system should be implemented with single-sign-on (SSO). It will allow the customers to use various platforms using one credential set. This will be convenient for the new customers. If there is a transition between different tools, then the customer should be aware of the third party and its use. The system should be implemented with automated services such as greeting and account setups. This step can save the time of the customer and the company. 

• Feedback Mechanism

With regular intervals, there should be a feedback or survey that can evaluate the performance of the system based on customer feedback. 

Types of Digital Onboarding

There are several types including customer and employee onboarding, partner onboarding, user onboarding for apps and websites, regulatory compliance onboarding, and self-service onboarding. 

• Customer and Employee Onboarding

Customer onboarding refers to the greetings and the welcome emails in which they can get to know about the services and the products. Employee onboarding includes tutorials and guides to access the resources. It also involves the interaction of the employees. 

• Partner Onboarding

This allows the new business partners to interact with each other and know how to collaborate effectively. It also includes training sessions, resources, and marketing and sales strategies to help businesses grow. 

• Apps and Website Onboarding

This involves onboarding wizards, tooltips, and progressive disclosure where the individual gets the idea of how to use features upon interaction. 

• Regulatory Compliance Onboarding

It ensures that the user is completely aware of all the regulations and their use. This includes training sessions, compliance topics, and assessments based on the learnings. 

• Self-service Onboarding

This type of onboarding involves FAQs, forums, brief tutorial videos, and help centers which can be easily accessed by the users whenever needed. 

Benefits of Digital Onboarding

This process has numerous benefits, which have made it valuable for various businesses to adopt. Although it is a complex and hectic process, it can be done digitally in no time. 

• Regular onboarding involves long and complex procedures and it becomes difficult to gather a lot of data from various people in a limited time. But in digital kyc, the user can pick up the time and place as per their convenience making it easier to onboard the new customers. 
• Digital onboarding works regardless of the circumstances. If the customer is unable to come on board physically due to any issue then he can be onboarded digitally without any environmental interruptions. 
• It is comparatively a convenient process in which the individual only needs to verify using mobile phones, and laptops. 
• It is a more time and cost-effective onboarding process.

Conclusion

Hence the transition from a human process to an automated process has proved extremely beneficial for businesses. It is a crucial and must-have step for every business. Over time, the digital onboarding process will also overcome its challenges to make its use convenient for companies and customers.