Digital Onboarding and No-code Platforms

Digital onboarding continues to be an answer used only with a couple of in the loan industry and HelloFlow sees the potential for digital client onboarding. We all know that creating a company’s own digital onboarding process takes considerable time and energy, among the greatest challenges is developing the program and integrating it using the necessary KYC services. It isn’t only time-consuming but additionally costly. That’s the problem HelloFlow solves. We’ve produced a no-code platform enabling companies to construct their very own client onboarding flows – and our process takes minutes, not several weeks.

Exactly What Does No-code Mean?

No-code solution enables users to construct, adjust and launch the work even without coding understanding. It utilizes a drag-and-drop method by having an intuitive interface to construct the onboarding flow from beginning to end. Users can certainly adjust the look within the designer tool while using editor bar or choose to give a new key to the procedure. All that you can do without getting to create just one type of code. This means that anybody across different departments can produce a new onboarding process in a few minutes. HelloFlow enables not just your customer experience but enables you to definitely leverage talent from across your business because of our no-code user-ambiance.

Advantages of No-code

Agility

The primary advantage of utilizing a no-code platform is agility. Since such tools use pre-built modules it’s even simpler and faster to construct an onboarding flow when compared to traditional product process. Working on your own in-house solution requires many teams to become involved in different factors and stages of product creation. HelloFlow’s no-code platform enables only one person to construct and launch the whole flow in a few minutes.

Cost Reduction

Another advantage of the no-code platform is cost reduction. Developing the whole solution takes considerable time and cash since you need to interact a team. This means that it requires several weeks prior to the onboarding process could be implemented to your website or product, significantly less tested, examined, and adjusted accordingly. A no-code platform will help you bypass that expense and administrative backlog. It’s especially useful over time. HelloFlow’s platform has lots of services already built-into it. It cuts down on any other costs associated with the implementation of recent services, especially while planning an worldwide expansion.

Versatility

Finally, in addition, there’s the advantage of versatility. Traditional coding is extremely limited with regards to any sudden changes. HelloFlow, on the other hand, supplies a no-code platform that enables you to definitely make changes within minutes and quickly. You are able to update the look or add an additional key to your onboarding process without getting to make contact with an IT team. Easily manage your process through visual real-time modeling, or improve different steps from the onboarding process all within the same breath.

No-code and KYC

Among the greatest challenges of onboarding in the loan industry is compliance. It is also an element that prevents or, a minimum of slows lower the entire process of digital onboarding implementation for banking institutions. With traditional coding, the event and integration of recent identity verification services take considerable time. Thinking about how frequently the rules change, this method might be a lot longer and much more tedious.

No-code platforms offer a variety of services for identity verification. HelloFlow’s platform includes both electronic identity verification services and identity verification tools according to document checking or facial recognition. On top of that, there’s also services enabling screening against global watchlists to make sure AML compliance. Furthermore, our platform enables an automatic funnel for client data monitoring, therefore enabling companies to operate criminal background checks to make sure KYC compliance.

No-code and Security

In digital finance, security is as essential as it is incorporated in the real life. With growing threats, including data compromise, fraud, and account takeovers – banking institutions must improve their vigilance at each step. It always entails data file encryption and a lot of coding. But when a no-code platform doesn’t require coding how’s it secure?

Simple – the safety options that come with our platform are instantly put on any onboarding flow built around the HelloFlow platform. This means that information is safely encrypted to avoid any threats, and also the platform user ultimately controls how certain data can be seen internally.