Boston, October 23, 2018 – Given customers’ rapidly rising expectations for digital banking experiences to match the integrated experiences they receive in other industries, financial institutions are under pressure to deliver a customer-centric, mobile-first digital experience that starts upon account opening. Artificial intelligence is one technology that can help FIs reinvent how they interact with customers during the digital account-opening and onboarding process.
This report examines the current state of the account-opening and onboarding experience, surfaces the challenges that still exist from customer and employee perspectives, discusses the opportunity AI creates to transform the process, and gives insight into what FIs need to do to take advantage of AI. It is based on 24 in-depth Aite Group interviews conducted in 2018 with senior executives at banks, vendors, and consulting firms from various parts of the world that either use or plan to use AI solutions to support digital account-opening and onboarding experiences.
This 22-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.