Blogginlägg -

UK banks lose 40% of customers to lengthily on-boarding processes

UK banks are losing around 40% of their applicants due to lengthily and tedious on-boarding processes.

That’s according to research from Signicat, published in its report “the Battle to On-Board”. The report states that more than a third of process abandonments were down o the length of time it takes for the user to complete them, while another 34% of drop-outs were down to the bank requiring too much personal information.

The number of abandoned applications on average has also increased from 26% to 45% in the past year.

For the full article by Alex Hamilton IBS Intelligence, April 5th 2016, please view Links

Relaterade länkar

Ämnen

  • Data, Telekom, IT

Kategorier

  • signicat assure
  • signicat
  • nykundsprocess
  • eid

Relaterat innehåll

The battle to on-board

40% of consumers abandon the on-boarding process. Find out how financial institutions can prevent turning consumers away at the final hurdle. Download your free white-paper to find out more.

Money 20/20 - the battle to on-board

In order to understand consumers attitudes to current on-boarding processes, Signicat surveyed 2,000 bank account holders and analysed their responses in a report entitled “The Battle to On-Board”; the on-boarding process led to many potential customers abandoning their applications, either because it took too long (39%) or because too much personal information was required (34%).

Signicat in the news - research on bank on-boarding

The Signicat hit the Financial IT May Issue during Money 20/20 in Copenhagen. Signicat main focus at the event was launching our research on bank on-boarding – financial services are increasingly digital but on-boarding in many parts of Europe is still an analogue process.

What The Heck Is Wrong With Online Account Opening?

Consumers experience a simple, efficient signup process in every other facet of their daily lives. But the extra effort needed when trying to buy financial products online leaves many unhappy.

UK banks losing 40% of applicants during on-boarding

UK banks losing 40% of applicants during on-boarding. Find out how financial institutions can prevent turning consumers away at the final hurdle. Signicat white-paper on the battle to on-board is available on https://www.signicat.com/eid/whitepaper-the-battle-to-on-board/

Customers Unsatisfied With Current Banking On-Boarding Processes

Consumers are unsatisfied with current banking on-boarding processes, which they claim are frustrating and time consuming. Banks need to listen to consumer demands and become truly digital to resist the competition and increase revenues and user base, according to a new report by Signicat.

The five major use cases for financial blockchains - where's the catch?

There is a good article by Chris Skinner is Chair of the European networking forum on the big five developments in blockchain use cases in finance today: Smart Contracts Smart Assets Clearing and Settlement Payments Digital Identity As the uses cases for the Block-chain technology is maturing, will necessary support functions be available?

Relaterade event

Digital on-boarding - free webinar

Tid 22 Juni 2016 15:00 – 16:00

Plats https://www.signicat.com/events/webinar-on-boarding/