“Measure twice, cut once – why the onboarding journey matters” Oliver Madden

With any business relationship, the onboarding process is where the customer experience really begins. This “get to know you” phase sets the tone for how the rest of a relationship is going to play out, which is why we have created a structure that helps us get it right first time.

With a mix of clients, drawn from and operating in the traditional and digital financial services universe, we are deliberately agnostic around the product, solution or service our customers require from us when we bring them on to our platform.

This is because, while different products may require varying documentation and checkpoints, the core principles of onboarding remain consistent: the journey should be seamless and informative, ensuring clients feel supported throughout.

It is the point where we begin to deliver on the promises we have made through the marketing and sales process, and it’s from when our clients begin to judge us on whether we are a partner for the long term.

Transparency and trust are key

Our starting point is setting realistic expectations and effectively communicating the timing and requirements to customers. This transparency helps clients know exactly where they are at every step. As one of the leading institutions operating in both traditional and digital finance, we know thorough due diligence is essential to ensure compliance and build client confidence.

It’s this “measure twice, cut once” approach that enables us to assess what we need from each specific client, based on their product or service requirements, and work with them to produce the correct documentation and other materials at the first time of asking.

We know other providers offer a quicker onboarding process, but we believe taking shortcuts can lead to issues appearing further down the road. Thanks to our experience in the market, our relationships with regulators and our work understanding our clients’ evolving needs, we can deliver a smooth journey and lay the foundations of a lasting relationship.

Once the onboarding process starts, we have dedicated teams to guide the client on their journey and experts in place to ensure every detail is in place.

Experts on hand

Subject matter experts in KYC and AML guide clients through documentation requirements. Behind the scenes, a dedicated compliance team will then ensure compliance requirements. In the burgeoning world of crypto and digital assets, our specialised compliance functions stay ahead of fast-moving regulation and case studies, ensuring our clients are always up to date with the necessary processes.

The final stage is carried out by our continuity team who will ensure the client is fully onboarded and ready to start using their BCB accounts and services. Beyond the onboarding process, our day-to-day client services team is on hand to help with any queries or requests.

The result is a thorough onboarding system which ensures there are no surprises or glitches in the process. For our clients it is then a seamless experience in which they are supported at every stage