/Casestudy/Digitalizing Customer Account Opening to Improve Efficiency and Customer Experience at Afghanistan International Bank
Digitalizing Customer Account Opening to Improve Efficiency and Customer Experience at Afghanistan International Bank
Executive Summary
The Afghanistan International Bank had tedious manual processes for opening accounts with customers. End-users had to visit the branch physically multiple times to complete the KYC processes, filling out over 10 forms, and bank employees had to manually verify them all.
The customer service officers at the bank had to spend hours manually entering the end-users' data into their database, which is naturally prone to human error. Meeting the KYC verification requirements became challenging because both parties involved were handling the tasks manually.
Without digitization and automation, mistakes were evidently piling up, preventing customers from opening bank accounts, and the bank was losing interest and customers.
Thus, the outdated, labor-intensive system persisted despite its challenges and was also impacting the business. A task as simple as account opening took an unreasonably long time, and that's when the bank recognized the need for an automated digitized system.
A system that reduced manual efforts, improved customer experience, and increased business with the streamlined account opening process.
Project Highlights
Developed and deployed an entire system for customers that automates account opening and KYC compliance, transforming operational efficiency by 75% and enhancing user experience.
Created a fully digital account opening process that eliminates the necessity for manual data entry, reducing processing time by over 50% as compared to the manual process.
Connected the newly developed system with the core banking platform, ensuring end-user data and KYC records flow seamlessly between both systems, eliminating compliance errors.
Enabled customers to submit their account opening applications and required documents online, reducing the need for branch visits by 80% and improving the accuracy of collected data by 65%.
Established automated approval workflows that connect multiple departments, reducing turnaround times by 70% and boosting overall operational efficiency across the bank by 60%.
Implemented security measures robust enough that include encryption protocols, strict adherence to regulatory standards, and ensuring customer data remains protected at every stage of the process.
