Banking onboarding is the action of integrating a new customer in banking services. Achieving this means to verify a customer’s identity and then activating its account in the service.
For traditional banks, the onboarding process involves the physical presence of the customer in the bank’s office, with its whole set of documents.
The flow changes in the case of next-gen banks, where onboarding is an app-based procedure. In this scenario, there is no direct contact, just the device camera taking photos or videos of the documents and a self-compiled form. This new way of dealing with customer identity validation could be challenging because it involves more chance to incur in identity theft.