Finan­cial insti­tu­tions take note: the next fron­tier to improve cus­tomer expe­ri­ences, dif­fer­en­ti­ate your ser­vices, and increase rev­enue from dig­i­tal chan­nels is dras­tic paper reduc­tion. Why? When cus­tomers come to your web or mobile site, the last thing they expect is to have to com­plete paper forms to sign up for loans, insur­ance poli­cies, or other prod­ucts. Forc­ing a cus­tomer to go from dig­i­tal to paper-based processes increases dis­sat­is­fac­tion, greatly slows ser­vice deliv­ery, and can leave cus­tomers with a neg­a­tive view of your orga­ni­za­tion overall.

Ask your­self some tough questions:

  • Is it rea­son­able to expect cus­tomers have ready access to fax machines—or expect them to refax mate­ri­als if paper­work doesn’t go through?  Also, do you have the inter­nal resources to then quickly deal with faxes?
  • How often do cus­tomers aban­don their efforts to sign up for new ser­vices when they real­ize they have to com­plete forms on paper—and what’s the finan­cial impact on your company?
  • Do your cus­tomers ulti­mately view your paper processes as a com­pli­ance require­ment that your insti­tu­tion is lean­ing too heav­ily on them to fulfill?

For finan­cial insti­tu­tions, these ques­tions under­score just a few of the prob­lems of rely­ing on paper forms. Even com­pa­nies widely rec­og­nized as pio­neers in online finan­cial ser­vices often revert to paper appli­ca­tions when it comes down to sign­ing up new clients—but it doesn’t have to be that way. Many finan­cial insti­tu­tions are adopt­ing intel­li­gent, auto­mated forms to accel­er­ate appli­ca­tion com­ple­tion and processing.

Here are five top busi­ness ben­e­fits from automat­ing appli­ca­tion processes:

  1. The right expe­ri­ence for each user regard­less of the chan­nel of inter­ac­tion: Forms pub­lished via proven, open dig­i­tal forms solu­tions can adjust auto­mat­i­cally across the web and mobile devices. They adapt and con­form based on vari­ables such as cus­tomer loca­tion, seg­ments, user responses, and touch points.
  2. Cus­tomer con­ve­nience: Cus­tomers can eas­ily search and find the forms they need on web and mobile sites. Form com­ple­tion is stream­lined through dynamic inter­faces that pre-fill and val­i­date fields. Cus­tomers can begin fill­ing out an appli­ca­tion on one device, and com­plete it later on another.
  3. Faster forms pro­cess­ing: Dig­i­tal forms need to be inte­grated with other workflows—such as back­end review and approval processes—to speed form pro­cess­ing and reduce man­ual effort in man­ag­ing applications.
  4. Increased effi­ciency and dras­tic paper reduc­tion: Dig­i­tal forms solu­tions open new oppor­tu­ni­ties for busi­ness process automa­tion by inte­grat­ing with back­end repos­i­to­ries of cus­tomer infor­ma­tion such as cus­tomer rela­tion­ship man­age­ment (CRM) sys­tems and other key appli­ca­tions, such as dig­i­tal sig­na­ture technologies.
  5. Action­able busi­ness insights: Today, many com­pa­nies are inte­grat­ing their dig­i­tal forms processes with track­ing and ana­lyt­ics soft­ware to best deter­mine how cus­tomers engage with online appli­ca­tions, pro­vid­ing finan­cial ser­vices teams with insight into form com­ple­tion and aban­don­ment rates.

In today’s dig­i­tal world—where firms face ris­ing oper­a­tional costs and cus­tomers demand faster turn­around times—now is the time to iden­tify solu­tions like Adobe Expe­ri­ence Man­ager forms. With the Adobe solu­tion, finan­cial insti­tu­tions can offer adap­tive, respon­sive dig­i­tal forms processes across devices to improve cus­tomer sat­is­fac­tion and ulti­mately a busi­ness’ bot­tom line.

In the end, the aim is to elim­i­nate man­ual processes so that insti­tu­tions can truly tap into the poten­tial of dig­i­tal chan­nels to pos­i­tively impact their busi­nesses. To learn more about how Adobe Expe­ri­ence Man­ager forms can improve cus­tomer expe­ri­ences and stream­line finan­cial ser­vices busi­ness processes, down­load our lat­est white paper link.

2 comments
harpreetkaurweblance
harpreetkaurweblance

Nice.....

Your post is informative.

Digital marketing is the good services of today's. By this we can do many works without any use of papers by the internet using mobiles,laptops,tabs etc.