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Private sector lender YES Bank on Tuesday announced the implementation of TransUnion’s onboarding solution, which will enable it to onboard its credit card customers seamlessly.
“The solution has been uniquely designed to enable a digital, streamlined onboarding process that delivers the experience consumers prefer such as fewer customer information fields to input, no physical paperwork, and comparatively lesser time required for completing the credit card application,” Yes Bank said in a statement.
An in-person interaction with customers for physical documentation and processing is now replaced with a digital process wherein a digital application link is sent to the customer, which the customer can complete along with a video KYC, it further said.
The solution also reduces the integration time and effort for the bank, while encompassing credit and risk decision workflow for digital end-to-end on-boarding.
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