The Client Experience: What Happened When We Tried DocFox for Ourselves

At DocFox, we are proud to offer remarkable commercial account opening that can happen in a matter of hours — sometimes minutes! — not days or weeks. But what happens when you only have 30 minutes before a wire deadline and need your new account open before then? We saw for ourselves … here’s how it went:

Recently, we decided at DocFox that we needed a new bank account. With only half an hour left before that day’s wire cutoff, I decided to put the speed of our software to the test. Since we are not a simple business and have multiple owners, opening an account can be a lengthy and painful process, and has been in the past.

I knew if I was to have any chance in opening an account quickly, it had to be with a bank that used DocFox. I immediately called one of our early clients and a great partner of ours. He told me confidently that we could get it done, and then went about explaining how I would get a link in my email…

“Wait,” I stopped him. “Are you about to explain to me how DocFox works?”

Now, I don’t need an explainer. But for those of you who dont work at DocFox every day, what he would have told me, and what I completed, looked like this.

Account Opening with DocFox

I received an email from DocFox, that was branded with the bank to invite me to complete my account application. From there, I received a one-time use pin for security over text, and was pushed to our modern (I’d call it beautiful) portal. 

I filled out a few forms that were tailored to my exact needs. In fact, I did it on my phone. I uploaded photos of the few documents I needed. Did I mention I was doing this all while traveling overseas? The fact that I had all the documents on hand is a testament to how readily-available they are. No need for arcane IRS documents.

If anything had gone wrong, at any point, my banker — who was texting me throughout the process — would have seen it immediately and could have helped get me back on track. It wasn’t necessary for me, but it was nice to know.

In just over 10 minutes, I had completed my application to open my new account. I even recorded the process as I was so excited to finally try DocFox on myself for real! I made the deadline and had the money wired in no time.

Technology Building Relationships

Considering just a week before I had opened an investment account where the process had taken nearly a month, with multiple fillable PDFs, complex secure emails and passwords, and who knows how much back and forth between me, the other signers, and the bankers, getting this commercial bank account open in less than 10 minutes was not only impressive, it was a pleasure.

More than that, it left me with quite the impression of the community bank I’d decided to work with as a customer. They — or should I say we — had created an experience that far outweighed that of a massive institution. And because they had visibility on their end into the documents I was submitting and how my application was progressing in real time, I was able to communicate with them throughout the process, making it not only faster, but also a relationship-building exercise. 

In the end, I chose this bank as our transactional bank since the value of a community bank shone through — incredible client service and real relationship banking. This is how technology should be used, not to automate away the human, but rather to enhance the relationship by removing the manual admin and highlighting the value the people at a bank really bring to the table.

With DocFox, all of the parts of commercial account opening that are typically painful were easy. The bankers I was working with were able to not only streamline the process, but also demonstrate how well they knew me, remain accessible throughout the entire application, and provide feedback as necessary.

In today’s world, we often hear about how technology is damaging our relationships with other humans, or reducing our ability to connect with each other. With DocFox, I found out for myself how technology improved my relationship with my banker and allowed us both to do what we do best — our business.