Key success factors for business account opening process transformation in Thailand

Abstract

The business account opening process used to be difficult and burden business customers to prepare a lot of supporting documents to certify their genuine identity. The banking business performs a crucial part in driving businesses today, particularly in the digital era. The financial institution should reduce the complexity of the business account opening process and eliminate paperwork by redesigning the business customer onboarding experience. This is to allow business customers to make transactions more convenient and facilitate business customers to run their business smoothly. The writer selects a qualitative method to interview the project members who worked in the business account opening process transformation project in the specific bank in Thailand with the objective to identify the key success factors that made this transformation project successful focusing on their method to execute a project which they successfully adopted design thinking process.