retail deposit administration service
delivered within 20 weeks
Benefits of the service
Allows for a cost-effective, customer friendly solution for clients and an easy, ‘straight through’ account opening process, designed to allow client’s customers to open their accounts quickly and easily using:
- An online, paperless savings application process. Customers can open the account without printing, signing and returning applications before the account can be opened. This is achieved via a digital signature, which is instantaneously date stamped, version controlled and archived for future recreation, should that ever be required.
- Electronic money laundering checks. During the application process, applicants are electronically anti-Money Laundering ID’d using Experian data. The majority of applicants are instantly verified using this method. This means a fantastic customer experience and more accounts invested in with a reduction in documents handled and processed.
- Debit card deposits. Applicants can deposit funds by Debit Card at the point of application. There is no need for the customer to send a cheque to open the account. Fall off between accounts opened and actually invested in, is minimised. Further funds can be deposited using this method - this is now the most popular way for customers to deposit additional funds into their YBS savings accounts.
- Highly parameterised products. Products are highly parameterised, meaning our clients can sell Instant Access accounts and eBonds of any term from 1 year onwards. Accounts can have introductory bonus periods, or not pay, or reduce the Interest rate payable if the customer transacts during the month, should these suit your strategy.
- Online account management. Customers can manage many aspects of their accounts themselves. They can change address and E-mail details, standing order dates etc, all tasks traditionally carried out manually. In order to allow customers this level of control, our security and password requirements have been recently upgraded.
The Yorkshire’s cutting edge Internet capability and customer proposition ensures a short and smooth customer journey, which reduces wastage and costs to our clients.