CEE21: Digital customer onboarding

During the CEE21 SME Banking Club Conference, Pawel Jaszewski, shared their experience in BNP Paribas Bank Polska, on the online interaction with SME customers, and online customer onboarding.

During the introduction, Pawel stressed that banks were not alone in the financial market. There are hundreds of fintech companies targeting SMB and SME Customers. And many of them are very good at what they do. They are monoliners but they offer a very good product and often a super UX. They are targeting the most profitable products like lending of FX and palling banks like an onion from revenues on these products.

Banks must find a way to compete with them. What it all means. 

There has become a complete change in the source of competitive advantage in SME banking – a competitive advantage based on Customer Experience.

And this is the leap that banks must make to that level, thwy must become CX/Customer Centric end focus on E2E Customer Journeys and Experience. Today banks have great products but on the level of CX they are still lagging behind Fintechs. 

Focusing on E2E Customer Experience is the right path for winning the SME Customer.

In BNP Paribas, they started by transforming the onboarding process for SME and Corporate Banking. The aim was to introduce a fully digital process and to:

  1. Improve Customer Satisfaction & Provide superb CX on this crucial phase of relation with the Bank
  2. Decrease Costs by automating the process
  3. Improve revenue by decreasing the abandon ratio and opening new sales channels

The implementation was executed fully Agile. We started by delivering MVP and each and every month with added new puzzles to this process. From the beginning, the process was designed and implemented in a way allowing for its reuse for digital aftersales.

BNP has even become a major investor in leading e-signature and e-identity company Autenti in Poland.

Watch the more detailed presentation below: