4 cool ways digital onboarding supports regulated businesses

We think there are lots of good things about disrupting the way customer onboarding has traditionally been carried out - here we explore four of them.

Posted by: 
Alexis Fox-Mills
Dec 18, 2019

December 18, 2019

How could digital transformation of customer onboarding journeys support your business?

We think there are lots of ways, but here are just four...

1. Ongoing risk monitoring

You can create an automatic refresh of applications in the platform to re-run any type of compliance check.

Set the time frame that works for you. Select the checks you want to re-run and PassFort will automatically take care of the rest.


eKYC, AML and any other checks can be set to re-run if you want to ensure your customer profiles remain compliant with regulations.

In the PassFort portal, you can see when a profile is coming up for review or renewal. And, if any issues are identified while the checks are being processed, this will be immediately flagged in the Portal, so action can be taken if needed.


2. Flexible compliance policies

With the PassFort "no-code" Policy Builder, you can configure compliance checks to run according to your processes and any relevant jurisdictions you operate in. The tasks are defined by you and can be tailored and adapted easily.

With straightforward workflow technology, add tasks for various circumstances and the conditions you set. If criteria change, the workflow can be adapted to reflect that. The possibilities are endless - for example you can automate sign-off requirements or have an adaptive compliance policy.


Automation of a compliance policy removes the risk of human-error negatively impacting processes. Handovers throughout onboarding become more efficient and allow compliance teams to focus time on more intensive tasks.

3. Fast, efficient manual intervention

100% automation isn’t possible when onboarding new customers - especially when onboarding high-risk individuals or corporates.

The key thing is, when manual intervention does arise, to get on it quickly and efficiently. By dealing with cases promptly you ensure a better customer experience, with minimum delays and fewer drop-offs along the way.

In the PassFort Portal, you can assign applications and escalate tasks.


When a task is assigned or manual intervention is needed, this is flagged to the individual concerned in the PassFort Portal and it can also be sent via email as a new notification. Then, once the manual intervention is completed, the automation system kicks in straight away to continue the onboarding and monitoring process.


If you process a high volume of new applications, you may not want to get email notifications each time, so that’s optional - all tasks remain visible in the Portal.

4. The power to analyse data

PassFort gives you the power to improve and iterate onboarding using your own company data and a suite of reports. One of the most important things is the ability to filter data for instant results. This enables proper analysis of problems, to track cohorts and to look for trends.

When you are processing applications manually and running checks with individual data providers, getting information about overall conversion rates and time to decision is hard. PassFort changes that.

Build a picture of applications being processed and approved, and where hold-ups or drop-offs occur. Then you can make changes and continue developing and improving your onboarding journeys.


Summing up

In summary, that’s four things we think are cool about digital transformation of customer onboarding journeys with PassFort.

There is, of course, more we could share with you. Please get in touch anytime you want to talk about this – there’s no subject we like better.


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