In the rapidly evolving world of commercial banking, the onboarding experience has become a critical battleground for growth, client satisfaction, and operational efficiency. As global commercial banking revenues are projected to reach £3 trillion by 2026, the imperative to modernize onboarding is clear. Yet, for many incumbent banks, legacy systems and manual processes continue to create friction, delay, and lost opportunity. The solution? Composable engagement platforms—modular, microservices-based architectures that are transforming how banks onboard clients, integrate fintech innovations, and adapt to ever-changing business and regulatory demands.
Traditional commercial banking platforms are often monolithic and inflexible, mirroring organizational silos and making it difficult to personalize journeys, integrate new solutions, or respond quickly to regulatory changes. This rigidity is a major reason why onboarding new business clients—especially those with complex, multi-entity structures—can take anywhere from seven to 42 days, with Know Your Customer (KYC) and Anti-Money Laundering (AML) checks as persistent bottlenecks.
Composable engagement platforms break this cycle. Built on microservices and event-driven orchestration, these platforms allow banks to rapidly assemble, replace, or scale discrete components as needed. This modularity is not just a technical advantage—it’s a strategic imperative. Banks can focus on differentiating capabilities, such as personalized onboarding or advanced risk assessment, while leveraging best-of-breed fintech partners for commoditized services like identity verification or workflow automation.
Composable architectures enable banks to quickly integrate new fintech solutions, regulatory tools, or customer experience enhancements without overhauling the entire system. This agility is crucial as client expectations and compliance requirements evolve. For example, banks can swap in a new KYC provider, add AI-powered document verification, or launch a new onboarding journey for a specific client segment—all with minimal disruption.
Modern engagement platforms support both self-service onboarding for SMEs and business banking clients, and Relationship Manager (RM)-led journeys for complex, high-value corporates. Clients can initiate onboarding via web, mobile, or RM portals, with pre-filled applications and real-time identity verification taking just minutes. Multi-user and multi-entity support ensures that even clients with layered ownership structures or multiple directors can be onboarded efficiently.
Event-driven architectures orchestrate onboarding across multiple systems and stakeholders, ensuring that data flows freely and securely between capabilities. Automated eligibility checks, dynamic document requests, and real-time status updates keep both clients and employees informed at every step. Exception management and AI-driven risk assessment streamline complex cases, reducing manual intervention and accelerating decision-making.
Composable platforms don’t just enhance the client experience—they also empower bank employees. Relationship managers, compliance officers, and operations teams gain a unified, 360-degree view of the client, streamlined workflows, and AI-driven insights. This reduces manual re-keying, accelerates approvals, and enables proactive service and cross-sell opportunities.
With regulations and business needs in constant flux, composable architectures provide the flexibility to adapt quickly. Banks can maintain robust audit trails, automate compliance checks, and integrate new regulatory requirements without lengthy development cycles. This ensures ongoing compliance and positions banks to seize new market opportunities as they arise.
Banks leveraging these platforms have also seen expedited payments, with 90% of customers accessing funds within two hours of onboarding, and a significant increase in client satisfaction and loyalty.
With fintechs setting new standards for speed, transparency, and satisfaction, modernizing onboarding is no longer optional—it’s a strategic imperative. Composable engagement platforms offer the agility, scalability, and client-centricity needed to turn onboarding from a bottleneck into a competitive advantage. By embracing this next frontier, commercial banks can not only meet but exceed client expectations, deepen relationships, and lead the next wave of digital transformation.
Ready to transform your onboarding experience? Connect with Publicis Sapient to explore how composable engagement platforms can future-proof your commercial banking operations and unlock new growth.