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Research Report

Digital Account Opening Fails to Deliver A Single-Channel Experience

The “digital branch” is essential to account opening and the sale of financial products. Javelin Strategy & Research recently completed a comprehensive analysis of five stages of account opening in financial services.

Their findings illustrate that the industry struggles to provide the ideal online account opening experience; depending on an end-to-end application process that is concluded in one session, within one channel.

Mobile account opening is particularly flawed, with only 1 out of 8 successful mobile checking account applicants enjoying a start-to-finish process on smartphones and tablets.

Bottomline is pleased to bring you the complete Javelin report, which includes recommendations to help you improve digital online account origination and increase digital sales. This Javelin report maps out how to:

  • Reduce the friction that causes digital account opening abandonment
  • Onboard applicants in a manner that promotes digital engagement
  • Turn more digital window shoppers into buyers

Average annual cost of cybercrime in the financial services industries is $20.8 million. What you can do to win the fight

Continuing Content

White Paper

From "Click" to Customer

One of the biggest myths in digital account-opening is that digital sales will automatically result. However, financial institutions can have varying success - independent of asset size - based on the strategies they use in their account-opening process.

White Paper

Is KYC Killing Your Career in Digital Banking?

More than 70% of consumers want to open bank accounts digitally, but only 8% of new account applications started on a mobile device are being completed in a single digital session. Why?

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