Digital Solutions for Business and Commercial Banking

Business banking tech is growing and progressing. 

In order for banking professionals to maintain an edge on their competition and make an impact in the small business and corporate sector, they need to be ready to meet the expectations and tech demands of their customers. 

Liveoak provides banking professionals with digital business tools that can be used to facilitate interactions with new and existing clients, including virtual meetings, ID verification, signature capture, completing forms, and more.

Because the Liveoak platform complements, augments, and enables human interactions that take place face to face, it is also possible for banks to offer that ease of connection to customers anywhere.

Evidence from User Experience Testing

The Liveoak software has undergone a tremendous amount of testing to make sure that it perfectly fits the needs of corporate and business banks everywhere. The goal of the study was to identify some of the biggest problems that currently exist in the world of corporate banking. Then, Liveoak could solve them. 

The goal was to replace the need for customers to have to travel to a branch or for a banker to travel to the place of business. To do this, Liveoak offers a white glove service, making it easier to discuss and complete the process.

Liveoak conducted a study of its software with a major client. Some of the highlights from this study include:

  • With the help of Liveoak, a banker can be there to guide customers through the process, helping to keep conversion rates high
  • The process of opening a new account becomes much easier thanks to the facilitation of Liveoak software
  • Customer insight has been used to fine-tune Liveoak’s software to perfectly meet the needs of clients

In today’s era, it is impossible to overstate the importance of being able to conduct all of these processes in a face to face manner.

Remote Capabilities in Business Banking Tech

The banking sector has to deal with numerous compliance requirements and strict regulations, however, these points have to be juxtaposed against the growth of remote environments. This has led to the rise of “frictionless” banking. 

Some of the major benefits of using Liveoak include:

  • Streamline the various transactions that take place in the banking world
  • Identify customers virtually using image and document capture capabilities, KYC processes, and ID verification before undergoing live conferences
  • Capture and audit data to increase e-signature adoption
  • Assist and guide customers through numerous banking transactions

Liveoak provides clients with full banking capabilities in an environment that is completely remote without having to sacrifice on security and compliance. In most banking sessions, customers are given an assigned banker and will have access to numerous options including lines of credit, small business loans, and other products. 

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