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RBS streamlines onboarding process for corporate clients
The Royal Bank of Scotland (RBS) will offer corporate clients a simpler and more secure way to open bank accounts under a new onboarding service that cuts paperwork for customers by 75%
The Asset 16 Oct 2014

The Royal Bank of Scotland (RBS) will offer corporate clients a simpler and more secure way to open bank accounts under a new onboarding service that cuts paperwork for customers by 75%.

 

RBS’s so-called Accelerated Client Onboarding service allows corporate customers to open a bank account using a single signature interactive form, replacing 70 individual signatures and 38 individual documents totaling 86 pages. Clients can set up online banking and payments quickly and efficiently.

 

RBS’s new service will launch initially in 23 countries, followed by further rollout across the bank’s international network to cover more than 30 countries.

 

The service forms part of RBS’ plan to be a simpler organization with which to do business with.

 

“Most banks consider lengthy documentation processes a necessary evil, but when we heard about the problems that the complexity and volume of paperwork were causing our customers, we wanted to do something about it,” said Carole Berndt, RBS head of global transaction services.

 

RBS’s new onboarding service, which is already piloting with some of the bank’s largest clients, will launch initially in the UK, in addition to 22 other jurisdictions including Australia, Singapore and the US.

 

The service will later be available in China, India, Indonesia, Japan, Malaysia, Thailand, and Turkey.

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