Small Business Onboarding
Objective & Scope
Discovery
Design Recommendations
Launch the Business Savings Account onboarding experience as an MVP and identify differentiating features that should be considered between that and the Small Business Checking onboarding experience:
Create an Intuitive interface that guides the user through the necessary steps to open a BSA, minimizing complexity and time
Ensure that all necessary KYC identification and documentation requirements are clearly communicated and easy to upload
Identify navigational best practices for digital business accounts applications
Design the future journey for digital onboarding by fusing existing branch experience, KYC requirements, and competitor trends
Applications for both big bank competitors and smaller digital banks consist of four phases:
1. Pre-application info 2. Personal questions 3. Business questions 4. Review and submit
Distinguishing features among competitors include:
Digital assistance
User ID and verification
Limited number of fields
Account activation elements
Improve upon those features provided by our competitors while leveraging best practices:
Experience design should include distinguishing features from those of our competitors
Perform comprehensive assessment of language tone and design style of competitors while adding elements of personalization where possible
Ensure that auto-fill is incorporated at all possible touch points for existing customers while streamlining experience for new customers
Cut down on KYC requirements by doubling up and pushing to post-approval where possible
Total number of entry fields should not exceed 80
