Thinking about automated verification?
Is automated ID and funding verification right for your business?
Currently, within your business, you might accept physical documentation such as passports, driving licenses, utility bills and other forms of paperwork. This paperwork is then scanned and uploaded into your CRM, therefore, allowing you to proceed with the transaction with your client.
Did you keep track of how the above took?
If you are like most people, the answer to that question is “NO!”. Tracking how long it takes to complete ID and funding verification is another task you would rather not complete. Fortunately, we have tracked this for you…
It takes around 30 mins to complete this process end-to-end per client. Let’s break it down;
5 mins (rapport building)
2 mins (collecting docs to client)
10 mins (scanning docs at the printer)
2 mins (returning docs to client)
3 mins (a bit more rapport building)
10 mins (reviewing docs and completing final checks)
3 mins (uploading to CRM system)
You may think, that is not how we do it. Our customer email’s the document to us.
In this case, it takes 20 mins again;
3 mins (typing email to request)
2 mins (following up to chase your client)
10 mins (reviewing docs and completing final checks)
3 mins (confirming to the client everything is okay)
3 mins (uploading to CRM system)
The most under-reported action is the cognitive effort involved in the completion of these tasks and doesn’t factor in the effort involved for your client in putting these documents together.
Using an automated ID and Funds verification, your organisation and people save a tremendous amount of time whilst providing your clients with a better experience.
To find out more about how Checkboard can help, visit our website by clicking here.