Consumers abandon 70% of online banking applications. A significant reason is friction: financial institutions must ensure applications are complete and compliant, but not at the expense of making onboarding convenient and seamless for customers. However, it's possible to know customers while creating a fast, frictionless experience.
- Strategies for structuring onboarding questions to increase application completion rates
- Hyper-personalization using third-party generative AI and data analytics
- Advanced non-traditional authentication and verification that removes onboarding friction
- Tracking performance to identify abandonment hotspots
