Reimagining Customer Onboarding in Banking with Digital Technologies.
Current Research on Customer Onboarding Says
- An end-to-end customer onboarding process from initial consultation to the active account takes between3–8 weeks
- Three out of Four onboarding dollars are spent on KYC approvals, Credit checks, and Legal Compliance
- On average, 55% of customers abandon the onboarding application in under 14 minutes and 20 second