by the Snapswap Team (Techstars Class 111)
Opening an account online is still a painful process for customers and we hardly see people registering and verifying themselves directly from their phone or laptop.
Most of people are still going through the process manually whereas demand for digital services is increasingly booming. It represents a waste of time for customers and a waste of money for financial institutions. We wanted to develop a solution that would improve this process and this is how we came up with the idea of a remote automated onboarding solution for banks, the investment industry and other businesses. We created a white label customer onboarding solution, available 24/7, allowing customers to complete initial onboarding in less than five minutes rather than days. It allows customers to register themselves in a secure an instant way and consistently improve customer knowledge and traceability.
With our team, we put together the different set of skills in business, project management, computing and compliance to provide a brand new solution to the French market that would facilitate the onboarding process and provide a great user experience. Thanks to their past experiences, our team members have a deep knowledge of the bank and the insurance industries. They understand the needs and specific requirements of such demanding verticals, which allowed us to develop a customized solution with a corporate partner of the Techstars program.
Our Techstars journey represented a real trampoline for us, since we could meet key stakeholders of large French companies and develop new business connections. Techstars had a great team that was always pushing us out of our boundaries to provide the best in class solution. We received useful mentoring classes and intense training, would be put in connection with the right persons, would be given all the keys for the road of success. Today, our main focus for us is on international expansion and we are going to have major improvements in our product, in security and compliance.