SDB bank new paperless onboarding process offers personal finance and entrepreneurial conveniences

Further advancing its continuous program of digital transformation, SDB bank is set to introduce an all-new paperless onboarding process in mid-February. 

This follows the bank’s implementation of a lean, e-signature system for customer loan agreements in late-2020.

SDB bank’s paperless customer onboarding effort will replace their current customer onboarding process which is fully paper-based. The use of digital technology in this key process across the bank’s 94 branches island-wide promises a host of new benefits to their extensive personal customer base, proudly covering people belonging to all walks of life with both small-scale entrepreneurial and personal finance requirements. 

The initiative will afford numerous conveniences and create an improved experience for both customers and staff. The integration of digital technology into the customer onboarding process is parallelly set to enhance efficiency across the bank, improve accuracy of data, offer greater internal controls, plus reduce the cost per customer. 

Each of these advantages to the bank, as part of their digitalization of internal processes, will allow them to facilitate a smooth, modern onboarding experience for all their customers, regardless of where they may be. Whether out in the paddy field, at a construction site, a factory, or anywhere else, the facility allows for anytime, anywhere convenient customer onboarding without the requirement of the customer’s physical presence at the bank. This further strengthens the bank’s reputation as a provider of world-class banking facilities not only in city locales and to high-net-worth individuals, but equally to out-of-Colombo, low- and middle-income customers. 

As such, SDB bank’s paperless onboarding system is expected to boost personal banking numbers in far-off locales along with signing on of customers displaying small-scale entrepreneurial needs in these areas, ensuring they are connected to the national economy and offering numerous banking conveniences to uplift their entrepreneurial efforts.

Through their emphasis on digital innovation across both internal and external aspects of their banking operation, SDB bank has continued to gain recognition as a digital pacesetter in local banking and a key facilitator of national development, particularly through the modern banking conveniences offered to small-scale entrepreneurs in uplifting the national economy.