Consumers abandon more than 70% of online banking applications.
And it doesn't matter how slick your online banking platform is.
What does matter is how—and when in the application process--you ask onboarding questions. Onboarding must be compliant, and protect against fraud, but it also needs to capture consumer engagement. Timing is everything. Asking for easier-to-provide information such as name and phone number first increases application completion rates. Plus, if the consumer does get distracted and abandon the process, you have the information you need to reach out to them and guide them through the application process.
Click here to learn how you can create an omnichannel onboarding experience that engages consumers and encourages them on the journey to become customers or members while incorporating fraud detection guardrails.