Client-Centric Onboarding: Hopes and Realities for Global Banks

Onboarding a new customer or adding a new product to an existing customer creates an impression. If onboarding is done poorly, customers may abandon the application process, reduce the lifetime value, expose the bank to regulatory fines, and damage the corporate brand.

In December 2013, Pegasystems commissioned Forrester Consulting to evaluate the people, process, and technology pain points and best practices overall in each of the key phases of commercial and investment client onboarding. Then to further explore this trend, Forrester developed a hypothesis that tested the assertion that commercial onboarding has a number of pain points that prevent a unified client-centric experience.