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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.

Signicat the battle to on-boarding report march 2016The report, entitled ‘The battle to on-board’, analyses results of a survey conducted by Red Briks for Signicat on over 2,000 UK-based consumers to explore experiences of applying for financial products with traditional banks. 

By Fintechnews Switzerland April 4, 2016

Relaterade länkar

Ämnen

  • Data, Telekom, IT

Kategorier

  • on-boarding
  • eid
  • signicat
  • signicat assure

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 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 white-paper is available on https://www.signicat.com/eid/whitepaper-the-battle-to-on-board/.

  • 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?

  • 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/

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