Transforming Customer Onboarding: EMS Consulting’s Digital Account Opening Solution

In the rapidly evolving landscape of financial services, meeting modern customer expectations is crucial. EMS Consulting is proud to introduce our proprietary Digital Account Opening (DAO) solution, designed to provide a seamless, efficient, and secure way for banks, credit unions, and wealth management firms to open accounts remotely.

Unmatched Customer Experience

Today’s customers demand convenience and speed, and our DAO solution delivers just that. By enabling account openings anytime, anywhere, and from any device, we reduce the friction typically associated with onboarding. This seamless experience not only meets but exceeds modern customer expectations, significantly reducing abandonment rates.

Strategic Partnerships for Comprehensive Solutions

Our DAO solution automates manual processes, dramatically improving operational efficiency. By integrating with your existing systems, we streamline data entry, verification, and compliance checks, allowing for faster and more accurate account openings. Our strategic partnership with Alloy ensures compliance with KYC (Know Your Customer) and AML (Anti-Money Laundering) regulations. Alloy’s advanced identity verification and real-time risk assessment capabilities reduce fraud risks and ensure regulatory compliance.

To further enhance our DAO solution, we have partnered with Plaid, providing seamless and secure account funding options. Plaid’s integration allows customers to link their existing bank accounts to fund new accounts instantly, ensuring a smooth and hassle-free experience. Additionally, our solution incorporates integrations with major credit bureaus, enabling instant credit checks and further streamlining the onboarding process.

Real-Life Applications

Retail Banking:

Busy professionals can now open checking, savings, and investment accounts without visiting a branch. Using their smartphones, they can complete identity verification, document submission, and initial funding quickly and easily.

Wealth and Asset Management:

High-net-worth individuals benefit from a personalized onboarding experience. Our DAO solution facilitates risk assessments, investment agreements, and account funding through secure online platforms, ensuring compliance with complex regulatory requirements.

Small Business Banking:

Small business owners can open business accounts and access credit lines swiftly. By submitting necessary documents and verifying their identity online, they can focus more on growing their business rather than dealing with paperwork.

Key Stakeholders

Customers benefit from the convenience, speed, and security of our digital processes. Their journey includes product selection, entering personal information, verifying identity through Alloy, and funding accounts via Plaid.

Relationship Managers leverage DAO tools to streamline onboarding for high-value clients, ensuring a smooth and compliant experience.

Compliance Officers oversee KYC and AML procedures, using digital tools for identity verification, risk assessment, and record maintenance.

IT and Operations Teams implement and maintain DAO systems, ensuring seamless integration, data security, and troubleshooting.

EMS Consulting’s Digital Account Opening solution is a game-changer for financial institutions, offering enhanced customer experiences, operational efficiencies, and robust compliance. By partnering with Alloy and Plaid, and integrating with major credit bureaus, we provide a comprehensive, cutting-edge solution that positions your institution for success in the digital age.