Boston, June 12, 2019 – As customers increasingly migrate to the digital channels, many financial institutions will be forced to rethink their account-opening experience. However, many U.S. FIs do not have the proper metrics in place to understand how their account-opening experience is performing and where they have opportunities to reduce friction in the process. The most successful FIs run their account-opening experience like a business by using rich analytics that uncover insights and are making small incremental improvements to the customer experience.
This study focuses on current trends that shape the account-opening experience, the metrics needed to manage account-opening experiences, and best practices in account-opening design. It contains analyses from 24 in-depth Aite Group interviews with senior executives at banks, vendors, and various consulting firms who are responsible for the branch experience, refining their branch strategy, or considering optimizing the account-opening and onboarding experience within the next couple of years.
This 23-page Impact Note contains five figures and five tables. Clients of Aite Group’s Retail Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.