Digital Banking Is the New Norm!

Digital banking is the new norm, it’s no longer a choice whether to go digital. Banks and financial institutions must embrace digital transformation to attract and retain customers. Many banks are already offering an omnichannel banking experience for their customers, ensuring that customers gain access to banking services anywhere and anytime.

A bank in every pocket – opening a new bank account, applying for a new credit card, applying for loans and mortgages, customers want to be able to retrieve account information and perform transactions with their mobile devices. So, how can we use OZ e-Form to build a digital banking system for greater convenience? We are going to cover all 4 scenarios presented during our FinTech Conference to share with you the ideology behind in building a digital banking system.

Scenario 1 – Non-Face-to-Face Transaction

How do we enable non-face-to-face transaction? All you need is to provide customers with a web link for them to access application forms via their mobile device. We have included a video below on the creation of a digital form from scratch.

Anyone without programming knowledge would be able to do so. All you need to do is to copy any existing application form template you have in Microsoft words, pdf, or excel and paste into our intuitive designer tool, OZ Designer. After creating and adding the necessary fields, publish the form by uploading it onto the server. Once the newly created form is being published, it is accessible by customers across devices (android, ios) and browsers with just a web link. Customers would then be able to fill in the application form and submit using the web link. An administrator from the bank will receive the notification of customer’s submission and process customer’s request accordingly.

This non-face-to-face transaction speeds up banking processes and brings greater convenience to customers as they do not need to be at the bank physically.

Scenario 2 – Tablet Branch Banking

Tablet branch banking allows customers to perform self-service banking services in the bank. Likewise, tellers can serve customers at the counter with a mobile tablet, replacing all paper application forms and documents.

The video demo depicts the concept of a tablet branch system used in an insurance company. Any new agents who joined the company would be able to use the tablet branch system to learn more about existing products or sell a policy to a customer.

Upon logging into the insurance system, the sales agent would be able to see the meetings that are arranged for him on a daily basis and the profile of any customers he is visiting. On the customer’s profile page, he would see the history of past meetings and discussion. All products brochures and policy forms can be found in the system, saving the hassle of collecting physical copies from the office. All product brochures and policy forms can be sent to the customers as well. Right on the spot, the sales agent would be able to load any policy for the customer to sign instantly. If you are wondering, OTP and biometric features can be implemented by integrating our partners’ solutions.

Customer’s information can be pre-populated onto the policy form if he/she is an existing customer. To prevent missing information, business logics can be inbuilt into the system. The best component of our solution allows the customer to attach additional information such as their income statement and identity card. With the camera feature, customers can add many pictures as they can in the application form. Upon submission, all information will be stored on the server. A copy in PDF will be generated and sent to the customer. Information like timestamp and location information can be integrated into the application form proving genuinity.

The tablet branch system can be implemented by any banks, allowing customers to create new bank account or update account information using their mobile devices or with the assistance of a teller at the counter.

Scenario 3 – Paperless Teller System

How can we reduce overall paper usage in processing all applications in a bank? Well, consider implementing a paperless teller system. Partnering hardware companies like Wacom, Samsung, and Apple, we have years of experience in delivering a holistic solution to our customers. Watch the video below to see how a paperless teller system can be integrated.

In the video, the bank account opening form is loaded onto a device and used by the teller over the counter; ditching the traditional paper forms. Mirroring solution by Tripath shows tellers what the customer is seeing. Validation highlighted by different colors indicates who should be filling up the fields. Help guides are available to prompt both tellers and customers on the validity of information. On the teller end, he would be able to highlight the terms and conditions reflected on the customer screen in real-time. While the customer is filling in the information, the teller would be able to multitask and continue with the other tasks.

Scenario 4 – Reduce Waiting Time

Have you witnessed long queues outside banks and thinking if there are ways to reduce waiting time? An idea we came up with, by integrating QR code with existing Q Ticket Kiosk. Upon scanning the QR code on the ticket, an application form pops up asking for customer name and identity number. Upon submission, a new QR code will be generated. When it’s the customer’s turn, the teller will scan the QR code, all information will be pre-populated on any forms, reducing waiting time.

Above are just a few scenarios catered for banks and financial institutions using OZ e-Form. There are more that we have yet to publish on this blog. If you have any request in mind, contact us and we will set up a discussion with you on how to go about implementing it with our enterprise solutions.