A neobank is a digital-only bank that operates exclusively online without physical branch locations.
New account onboarding involves completely and correctly entering all pertinent details of a deposit or loan account into the bank’s core system. Depending on the bank, this process might be performed manually by document preparation staff members or by boarding clerks.
Traditionally, financial institutions have distributed printed notice letters to request account holder information.
A notice letter informs a bank’s customer about his or her account—and often explains that the customer requires action.
In banking, a notice workflow includes the steps necessary to prepare, distribute, and track notice letters and notice emails.