Skip to main content
  • About us
    • VeriPark
    • Our Values
    • Awards & Recognition
    • Management Team
  • Resources
    • Product Brochures
    • E-books & Whitepapers
    • Videos
    • On-demand webinars
    • 1:1 Assessment
    • SME Banking Discovery Workshop
    • VeriChannel Discovery Workshop
  • News & events
    • News
    • Events
    • Press
    • Newsletter
  • CAREERS
    • What we live for
    • The way we work
    • How we hire
    • Join our team
  • Contact
    • Contact us
    • Our Offices
  • en
  • de

Search

Home
Mobile menu expand icon Menu Close
  • SOLUTIONS
    • VeriChannel
      • Digital Onboarding
      • Mobile Banking
      • Internet Banking
      • Branchless Banking
      • Personal Finance Management
      • Merchant Portal
      • Contact Center Banking
      • Chatbot
      • Mobile Payments
      • Digital Offboarding
      • VeriChannel as a Service
    • VeriTouch
      • Sales & Prospect Management
      • Customer Enrollment
      • Single View of Customer
      • Role-based tablet applications
      • Cross - upsell
      • Next Best Action
      • Marketing & Campaign Management
      • Contact Center Solution
      • Complaints & Service Requests
      • Loyalty Management
      • Customer Insights
      • Know Your Customer
      • AI Agents for MS Dynamics 365
      • Apps for MS Cloud for FSI
    • VeriLoan
      • Digital Lending
      • Digital Collections
      • Retail Loan Origination
      • Retail Loan Servicing
      • Corporate Loan Origination
      • Corporate Loan Servicing
      • Extending MS Cloud for FSI
    • VeriBranch
      • Conventional Branch
      • Branch Teller
      • Branch Seller
      • Branch Advisor
      • Digital Branch
      • Universal Banker
      • Self-service
      • Assisted Service
    • VeriLink
      • Integration Layer
      • 3rd Party Integration
  • INDUSTRIES
    • Retail banking
    • Corporate/SME Banking
    • Credit Unions
    • Private Banking/Wealth
    • Insurance
  • Consulting
  • Customers
    • Success Stories
    • Global Customers
  • Partners
    • Solution Ecosystem
    • Implementation Partners
    • Become a Partner
    • Partner login
  • Blog
  • Demo request
  • About us
    • VeriPark
    • Our Values
    • Awards & Recognition
    • Management Team
  • Resources
    • Product Brochures
    • E-books & Whitepapers
    • Videos
    • On-demand webinars
    • 1:1 Assessment
    • SME Banking Discovery Workshop
    • VeriChannel Discovery Workshop
  • News & events
    • News
    • Events
    • Press
    • Newsletter
  • CAREERS
    • What we live for
    • The way we work
    • How we hire
    • Join our team
  • Contact
    • Contact us
    • Our Offices
  • en
  • de

Search

Blog-connected-journeys_CRM-IB

Every online banking login is an opportunity to know and serve your customers better

20 September 2022

Breadcrumb

  1. Home
  2. Blog
  3. Every online banking login is an opportunity to know and serve your customers better
Customer Experience
KYC
Online banking

How banks can improve data quality and KYC by integrating their self-service channels with CRM

By integrating their CRM with self-service channels like online banking, financial institutions can deliver engaging personalized online experiences to their customer while improving data quality and complying with KYC regulations.

Banks and other financial services institutions face a challenge as they strive to adapt to changing market conditions. Understanding their market and customers is crucial to this endeavor, hence they need to rely on data to remain competitive. That’s not always easy in a heavily regulated environment. Simply having data is not enough. Banks and financial services institutions need accessible data that can be trusted in order to compete profitably while complying with the law.

Maintaining a strong focus on data quality is therefore becoming one of the important success factors not only for KYC/AML but also to improve customer engagement.

However, we see that, with regards to data, many financial services institutions only have mechanisms in place for regulatory purposes, but don’t have any built-in processes yet to update and improve actionable data to add value to their business. 

What’s wrong with manual processes for data quality and KYC?

Usually, it’s a call center agent or a relationship manager, while interacting with the customer, who finds out that the customer’s ID is about to expire or that his/her work or family situation has changed and updates the information accordingly. Sometimes key customer data collection is done through outreach. Banks manually send emails or rely on outbound calls for KYC reviews.

The data quality and KYC processes often remain highly manual, which makes them expensive and prone to errors. With more and more tech-savvy customers, manual processes are getting even harder as these customers choose digital services (like online and mobile banking) over physical or assisted ones. 

Given the importance of automated quality data collection, a comprehensive data-quality management approach is required for financial institutions. By allowing customers to update their own information on digital channels, banks can improve the quality of data collection and tap deep customer insights to increase their own ability to serve customers, and lower costs. 

Integrated omnichannel customer engagement

To achieve this, banks need to integrate their CRM (customer relationship management) solutions with their digital banking channels. With a Business Layer API that exposes important functionalities of CRM to web services, channels and apps like VeriChannel or VeriBranch can use CRM logic easily. The business processes defined in CRM (like Dynamics 365), automatically take place on digital channels. 

Without systems talking to each other natively, each tool keeps its own kind of data. Integrating them removes this limitation. All the information the customers create or change is pushed directly into the CRM system, ready for relevant business workflows to kick in.

Customer-driven data improvement

Every piece of information your customers update on your online banking can be reflected in your CRM and vice versa. Now, all you need to do is to send out the right questions and alerts to your customers when they log in on internet banking and let them do the rest. This is easily doable with a widget for online banking asking yes/no questions.

internet banking dashboard with alerts - screenshot

Every login is an opportunity to know more about the customer

For example, every time a customer logs in, the Data Quality Widget will ask one question at a time about critical pieces of information and accept customer selections to confirm data. It will not repeat questions that have been answered before. Similarly, alerts for the customer can pop up in the online banking interface, such as a request to update an expired ID or a missing mandatory field. 

All the updates will be applied to your CRM and back-end systems in real-time so that every login is an opportunity to know more about your customer immediately and ultimately serve him better. 

subscribe to our blog

E-Book | Banking Reimagined

Building Resilience to Thrive in the New Normal

Download the e-book now
E-Book Banking Reimagined
internet banking dashboard with alerts - screenshot
20 September 2022
Customer Experience
KYC
Online banking

Share

Facebook
LinkedIn
Twitter
Print
E-mail

Related blog items

5 ways AI improves digital onboarding for banking customers.jpg

5 ways AI improves digital onboarding for banking customers

19 March 2025
Read more
Banks must integrate digital technologies with CRM The new core of banking_teaser.jpg

Banks must integrate digital technologies with CRM: The new core of banking - PART 2

27 December 2024
Read more
Banks must integrate digital technologies with CRM The new core of banking_teaser.jpg

Banks must integrate digital technologies with CRM: The new core of banking - PART 1

17 December 2024
Read more
Empowering credit union membership with digital technology.jpg

Reimagining credit unions: Attracting tech-savvy members with digital transformation

31 October 2024
Read more
Blog Digital Banking and Engagement

How to build a unified digital banking and customer engagement platform

29 August 2024
Read more
Blog Bank of the Future

From cloud to customer experience: Building the Bank of the Future

25 June 2024
Read more

Company info

Logo Veripark

Enabling Financial Institutions to become Digital Leaders with our AI-Powered Customer Experience Suite.

Contact us

Social media links

LinkedIn
Facebook
Twitter
Youtube

Company

  • About us
  • Offices
  • Jobs
  • News & Events
  • Sign up for our newsletter

Products

  • VeriChannel
  • VeriBranch
  • VeriTouch
  • VeriLoan
  • VeriLink

Industries

  • Retail banking
  • Corporate/SME banking
  • Credit Unions
  • Private banking & Wealth
  • Insurance

Copyright

© VeriPark 2025

Footer

  • Sitemap
  • CMMI Certificate
  • ISO 9001 - ISO 14001 - ISO 27001
  • Privacy Policy
  • Cookie Policy
  • Cookie Preferences
  • EQMS Policy
  • ISMS Policy

Powered by Dropsolid

Powered by Dropsolid