Automize Infinity

Bank account opening

First Impressions Matter: Begin Your Banking Journey with us



A smooth and quick customer onboarding process wins the trust and loyalty of the customer. Establish a new bank account for a client, providing necessary documentation such as identification, proof of address, and other required information, and completing any additional formalities

Understanding the bank account opening process

Account Opening is the process of establishing a new banking account, whether it’s a savings account, checking account, or any other financial product. It involves gathering customer information, verifying identities, selecting account options, and completing necessary paperwork to activate the account. Effective account opening ensures that customers have access to the banking services and products that best suit their financial goals and needs.

Steps in Bank account opening

Application Submission

Customers submit account application forms to the bank either through physical branches, online banking portals, or mobile applications.

Documentation Submission

Customers provide required documentation, such as identification proof, address proof, and business documents (for business accounts), to verify their identity and eligibility. Other documents such as KYC, Due Diligence, Anti-money laundering forms need to be filled in as well.

Account Review and Approval

Bank representatives review account applications, verify submitted documentation, and assess applicants’ eligibility based on internal policies and regulatory requirements.

Account Setup

Upon approval, bank representatives proceed to set up the new account in the bank’s systems, assign account numbers, and configure account features and services based on customer preferences.

Funding the Account

Customers fund their new accounts by depositing an initial amount of money, either through cash deposits, electronic transfers, or check deposits.

Welcome Kit Issuance

Banks issue welcome kits containing account details, debit cards, checkbooks (if applicable), and other relevant information to customers for account activation and usage.

Online Banking Enrollment

Customers enroll in online banking services to access account information, perform transactions, and manage their accounts remotely.

Account Activation

Customers activate their accounts either through ATM transactions, online banking activation, or in-person branch visits, depending on the bank’s procedures.

How can automation improve your process?

Traditional banking institutions rely on manual procedures to collect and authenticate customer data. Contemporary banks utilize digital channels such as websites, mobile apps, and third-party platforms for gathering customer information and avoid the risks of suspicious customer activities that can compromise a financial institution.

Document Verification

Automate document verification processes using Intelligent Document Processing (IDP) solutions to extract and verify customer information from submitted documents accurately.

Account Setup

Implement Business Process Automation (BPA) to streamline account setup procedures, automate account configuration tasks, and reduce processing times for account creation.

Compliance Checks

Utilize Robotic Process Automation (RPA) to perform regulatory compliance checks and sanctions screening against customer data, ensuring adherence to anti-money laundering (AML) and know your customer (KYC) regulations.

Application Status Tracking

Automate application status tracking mechanisms using BPA solutions, allowing customers to track the progress of their account applications in real-time through online portals or mobile apps.

Welcome Kit Generation

Employ BPA solutions to automate the generation and distribution of welcome kits, personalized with customer details and account information, improving the efficiency of the onboarding process.

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