Credit Card Application
Situation – A bank decides to set-up a mobile team (on the street or at a public event) to access potential customers to sign up for a new credit card.
Speed – The customers want convenience and their new card as quickly as possible.
Challenge – Generally the paper application form will take several days to process.
Threat – Customers desire instant service. During a long waiting period they may change their mind about using the credit card when it finally arrives.
Opportunity – Customers fill in the digital paper application form with the digital pen.
Efficient Process – Once completed the information is instantly sent to the company’s data systems processing center.
Instant Processing – The data center checks the form information for approval (generally takes a few minutes, depending on the company’s data systems capabilities) and sends an authorization/approval text message to the remote bank employees who informs the customer – ‘your application has been approved’. Your card will be issued now. You can retrieve your new card in – example – 30 minutes.
Result and Benefit – The bank gains a new customer. The customer can start shopping almost immediately. The company wins more business AND creates internal efficiency.
