In order to keep pace with the ongoing rise in new and fully digital SME services available in the UK market; TSB wanted to establish a completely online SME account opening process that would collect data, verify single-party and multi-party accounts and fulfil the account appropriately with the operations centre.
approach
Working with TSB Business leadership we worked to meet stringent regulatory deadlines for digitisation of key onboarding components and released iterative versions of the experience starting with single-party customers and progressing to multi-party customers. The solution included integrations with identify verification APIs provided by the bank's strategic partners, company verification through Companies House and Duedil as well as other pre-built onboarding microservices on the Aicura platform.
outcome
As a direct result of the project, the bank was able to open an average of 600 new accounts per day using the solution and completely automate the onboarding process up to the point of account opening performed by the operations team thereby significantly reducing overhead and improving the overall customer experience.
