Winning the Financial Services
Onboarding Battle by Repositioning
Currently, financial services are caught amidst a perfect, digital storm. While account opening has traditionally been the final hoop that individuals had to jump through in order to become a customer, the onboarding process has transformed into the last mile of a customer acquisition funnel and financial institutions can no longer assume that individuals will see it through.
Investing in technologies such as electronic identity verification (eIDV) can eliminate unnecessary friction and help financial institutions land the customer. In fact, a dollar spent on onboarding with eIDV is worth $412 in Customer Lifetime Value.