The Hidden Hazards of Manual Document Submission in Financial Services

March 19, 2024
minutes read

As we have highlighted in previous blogs in this series, phone-based processes in financial services are time-consuming and inefficient, resulting in customer frustration and friction. Further exacerbating this issue is the common practice of asking customers to provide information or documents using additional channels, such as email or post. This not only adds layers of complexity but also undermines the very efficiency that modern financial services aim to achieve. 

In this blog, we explore the inefficiencies of this approach, how the back and forth between non-digital and digital channels interrupts the customer journey and highlight the need for a more streamlined strategy. 

 The Disruptive Yo-Yo Effect

The transition from phone-based interactions to document submission through non-digital and digital channels creates a disruptive yo-yo effect for customers. After engaging in a phone call with a financial institution, customers are often asked to submit documents via email or post – proof of ID, verification of address, bank statements and so on. This shift between non-digital and digital channels introduces complexity and prolongs the submission process. Customers have to find the time to gather and organise the required documents, then choose between scanning and emailing the information or photocopying and mailing physical copies. This back-and-forth adds layers of inconvenience and slows the whole process down. 

Interrupting the Customer Journey

The constant toggling between non-digital and digital channels interrupts the seamless flow of the customer journey. Instead of seamlessly transitioning to an easy-to-use digital channel for document submission, they are often left to figure out the next steps on their own. The abrupt shift from verbal communication to document submission via email or post adds uncertainty to the process, as customers navigate different channels or gather physical documents for mailing. The lack of integration between non-digital and digital channels further compounds the issue, leading to disjointed communication and eroding trust in the financial institution.

Customer Frustration Conundrum 

In today's demanding environment, where time is at a premium, customers expect smooth, efficient processes from financial institutions. However, the constant switching between non-digital and digital channels in document submission further exacerbates frustration. This repetitive transition burdens individuals already struggling to balance busy schedules, forcing them into a cycle of document retrieval and submission, unsure of the most effective method or when to expect confirmation of receipt. This frustration can tarnish the relationship between customers and financial institutions, ultimately impacting loyalty and retention rates.

The Cost of Postal Submission 

The costs of traditional mail submissions, including postage, envelopes, and printing materials, pose tangible financial burdens for customers, particularly those dealing with multiple documents or large files. Moreover, the risk of documents being lost or delayed in transit further compounds the inefficiency of the process. Addressing these challenges through digital transformation not only enhances operational efficiency but also improves the overall customer experience. 

Nivo – Eliminating Manual Data Submission

Nivo's Verified Identity Messaging (VIM) platform modernises customer interactions and document management, eliminating friction and frustrations. The instant messaging solution combines the speed and security of popular apps like WhatsApp, providing a reliable and secure platform for efficient document sharing.

Designed specifically for financial communications, Nivo's platform simplifies and streamlines the process of submitting documents as part of onboarding and service delivery processes. With the platform, customers can easily send documents to their bank or lender as easy as if they were sending a text, removing the lengthy back and forth or submitting documents via e mail or post. 

Advanced feature including biometric ID verification, e-signing, document uploads, and Open Banking integration ensure a seamless and quick process for customers.


In conclusion, the manual document submission process in financial services presents numerous challenges, including customer frustration, interruptions in the customer journey, and tangible costs associated with traditional mail submissions. These issues underscore the urgent need for a more streamlined and digitally-driven approach.

Nivo’s innovative Verified Identity Messaging (VIM) platform offers a simplified alternative, mitigating friction and enhancing efficiency in document management for financial institutions and their customers.

To learn more about the challenges that phone is presenting to financial services firms, download our guide 10 Reasons Why Phone Communication is Destroying the Customer Experience and Staff Productivity in Financial Services.

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