March 7 2024
Author Jonathan Binpong

How to Migrate Your Onboarding Process to Salesforce

Migrating your onboarding process to a new platform may seem intimidating. However, if you’re unsatisfied with your current onboarding measures or want to refine your existing processes, Salesforce offers several viable solutions. With it, you can enhance efficiency, enforce compliance, and improve employee satisfaction.  

Salesforce provides an onboarding journey that anyone can follow, regardless of their experience. In this blog post, we’ll explore key strategies and best practices for a successful transition that I’ve implemented. 

Salesforce’s Approach to Onboarding and KYC Integration

Effective onboarding is crucial for gathering valuable customer data, fostering trust, and ensuring you leave a positive impression. Robust KYC processes help financial institutions comply with regulations, prevent fraud, and manage risk. Combining these two critical aspects within Salesforce can create a holistic approach to client engagement. 

Salesforce recognizes the need for seamless onboarding and robust KYC practices. Here’s how you can leverage Salesforce for a successful transition:

1) Shaping your KYC Process

Use data models: Salesforce provides a pre-built data model which can be easily tweaked to suit the needs of your brand and store information collected during the KYC process. This includes details about accounts, identifying information, and relevant compliance data. 

Integrate Salesforce with identity and compliance tools: Salesforce boasts multiple integration capabilities allowing users to connect with various identity verification and compliance tools. This helps ensure KYC data is accurate, up-to-date, and accessible when needed. 

When working with a past client, I created customs fields important to the Onboarding team and their processes. Examples included Type of Account(s), Customer Risk Rating, and PEP Exposure Identified. I then added further customizations to the Salesforce architecture and created specific areas for holding fields that varied depending on the onboarding stage. This created sets of related ‘sub-journeys’ that were captured separately but all made accessible from within a single Onboarding Record

2) Streamline Onboarding and KYC Workflow

Make full use of the unified platform: Salesforce provides a unified platform for all parties involved through both Onboarding and KYC. Relationship Managers (RMs), compliance teams & Onboarding Analysts can collaborate seamlessly within the same environment using inbuilt tools such as Chatter and Slack. 

Implement automated workflows: With Salesforce, you can design automated workflows that guide new clients through the onboarding process while simultaneously collecting necessary KYC information. For example: 

  • Document collection: Automatically collect required documentation, providing an accessible collaborative environment.  
  • On-going monitoring: Set up alerts and triggers for ongoing monitoring of client profiles. 
  • Reporting and analysis: Generate reports on compliance status and potential risks. 
  • Automated notifications: Push updates to senior team members, based on adjustments made by Onboarding Analysts either for their approval and/or feedback.

Using the above, my clients can pull team members from different areas of the business to collaborate on, or have direct insight into, all Onboarding Journeys. This ultimately helps foster a collaborative nature within the Onboarding team and its many components (Compliance, Relationship Managers, Head of Onboarding etc.). This also lessens the work required by Onboarding Analysts; the onboarding process is designed to automatically flag which sub-teams are involved at certain intervals e.g. Compliance will be required for approving Risk Rating Scores. This greatly aids accountability and transparency and helps improve turnaround times. 

3) Personalization and Compliance

Create persona-specific content: Use Salesforce to create bespoke onboarding content based on client personas. High-Net-Worth Individuals (HNWI) may have different requirements than retail or private clients. 

Implement compliance checks: Integrate KYC checks seamlessly into the onboarding journey. This includes Anti-Money Laundering (AML) checks, politically exposed person (PEP) screenings, and adverse media searches. 

In a prior project, I created prompts in the onboarding journey to ensure Onboarding Analysts would submit the documents required for due diligence checks. For example, when filling out a Customer Risk Assessment, the analyst would be prompted to submit the document for approval with internal members.  

My implemented solution also delegated tasks based on the type of customer account and the assigned risk rating received from the populated CRA. This is how we were able to facilitate varied onboarding journeys for different customer personas and account types.  

Practical Steps for Your Transition

Consider the following steps as you transition your onboarding and KYC processes to Salesforce:

1) Assess Current Processes

Identify gaps in your existing processes. Identify ‘What’ and ‘Where’ the bottlenecks in your current process reside and how these can be rectified. Consider where Salesforce automation can be used to send updates & notifications within the process.

2) Configure Salesforce for KYC

Make use of out-of-box Objects i.e. Accounts, Contacts etc. for capturing standard client data while creating custom objects to capture KYC-specific data. These may include: 

  • Validation Rules: Define rules to ensure data accuracy. 
  • Automated Tasks: Create tasks for compliance officers to review and validate KYC data. 
  • Custom Interfaces: Create interfaces within Salesforce to handle specific processes in the KYC/Onboarding Process, helping users populate information relevant to their current stage in the process.
3) Train Your Team

Moving systems may outline different touch points, staff will need to change how they interact with the process, this may affect how they interact with customers. It’s important to ensure Relationship Managers, Compliance Officers, Onboarding Analysts and other stakeholders understand the new workflows. 

Communicate the benefits of the transition and address any concerns. This may include running side-by-side comparisons to help outline where problems were recognised and how these were mitigated within the new process. 

4) Measuring Success

Track success metrics such as: 

  • Reduced Onboarding Time: Measure the time it takes to onboard a client. 
  • Compliance Adherence: Monitor adherence to KYC requirements. 
  • Client Satisfaction: Gather feedback from clients and RMs. 

In conclusion, transitioning your onboarding and KYC processes to Salesforce is a strategic move that aligns technology, compliance, and client-centricity. By adopting Salesforce’s integrated approach, you’ll create a seamless experience for both your team and your clients. An efficient onboarding and robust KYC build enforces trust and paves the way for lasting client relationships.  


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