From an Emotional Roller Coaster to a Delightful Ride

From an Emotional Rollercoaster to a Delightful Ride: Rethinking Online Account Opening

Why Customer Emotions Matter in Digital Banking

In the age of digital banking, automation, and AI, it’s easy to forget that emotions are still at the heart of every customer experience. No matter how sophisticated the technology, banking remains deeply human — built on trust, empathy, and connection.

According to Forrester Research, brands that deliver emotionally positive experiences create 22 positive interactions for every negative one, while the lowest-performing 5 percent manage only two. Even a 1-point improvement in a CX Index score can result in $244 million in additional revenue, while a 1-point decline can cost banks over $124 million annually.

This eBook explores how banks can transform online account opening (OAO) — often a source of frustration and customer loss — into an emotionally engaging, seamless, and delightful experience that builds loyalty and trust.

The Emotional Rollercoaster of Account Opening

The eBook introduces us to Sarah, a digital-savvy millennial who wants to open a savings account online. What starts as an optimistic, simple task turns into an exhausting emotional journey.

• Hope: Sarah begins excited, comparing banks and feeling optimistic.
• Excitement: She starts her application online, expecting speed and convenience.
• Anxiety: The process is confusing, long, and full of unclear instructions.
• Affirmation: After multiple attempts, she receives a reference number — relief sets in.
• Eagerness: She receives confirmation emails and calls but is soon asked to submit physical documents.
• Frustration: Delays, poor communication, and redundant document requests make her doubt the process.
• Mistrust and Disappointment: After multiple failed follow-ups, Sarah abandons the process and moves to a fintech competitor offering an easier experience.

Her journey illustrates what many customers feel: excitement that turns into annoyance, ultimately leading to abandonment.

The Cost of Ignoring Emotion

Research shows that 85 percent of customers who start an online application never complete it, and over half abandon the process due to friction, unclear communication, or poor design.

Even though banks invest heavily in automation and mobile banking, they often overlook the emotional experience customers have during digital onboarding.

A PwC study found that for 80 percent of U.S. consumers, the most important elements of a positive experience are:

• Speed
• Convenience
• Knowledgeable help
• Friendly service

However, only 3 percent want processes to be fully automated. In fact, 71 percent of consumers prefer to interact with humans rather than chatbots. This reinforces that emotional engagement and human connection remain critical even in digital-first banking.

Seven Strategies to Turn Online Account Opening into a Delightful Experience

1. Address the End-to-End Journey – Build Confidence

Transparency builds trust. Customers should always know where they stand in the process. Use visual indicators, progress trackers, and real-time notifications to show status updates.

Implement intelligent process automation (BPM) to connect siloed systems and ensure smooth handoffs between departments. A unified process reduces delays and keeps customers informed.

Pro Tip: Deploy a BPM platform to unify the account opening lifecycle and eliminate cross-departmental confusion.

2. Deliver Omnichannel and Cross-Channel Experiences – Respect Time

Customers today expect continuity. They should be able to start an application on one channel — mobile, web, or branch — and finish it on another without losing progress.

Use a multi-experience platform that integrates mobile, web, and social touchpoints with consistent layouts, messages, and features.

Pro Tip: Tie together your omnichannel strategy with intelligent automation to ensure consistent, secure, and fast interactions across every device.

3. Engage Customers in Context – Show Them They’re Valued

Personalization builds emotional connections. Use customer data to address users by name, prefill information, and recommend relevant products.

Incorporate contextual insights into every interaction — whether in app, at the branch, or over a call. Offer in-flight upgrades or cross-sell options that match their needs.

Pro Tip: Combine contextual content services (ECM) with process automation to ensure compliance, reduce manual effort, and maintain a holistic view of each customer.

4. Reduce Friction Throughout the Process – Provide Them Wings

Long forms, confusing layouts, and redundant data requests are the biggest barriers to completion. Automate data capture using AI, RPA, and intelligent document processing.

Enable auto-filling of forms using existing customer data and allow users to upload or capture documents with their mobile camera.

Pro Tip: Intelligent automation and analytics can proactively detect bottlenecks and suggest improvements to simplify the user journey.

5. Empower Employees – Make Them Feel Appreciated

Your employees’ efficiency directly affects customer emotions. Equip them with real-time dashboards to track their tasks and view customer information instantly.

Automate repetitive tasks so teams can focus on building relationships rather than managing paperwork. Transparency and access to insights improve both employee satisfaction and customer trust.

Pro Tip: Combine BPM and RPA to streamline back-office processes and let employees focus on meaningful interactions.

6. Handle Exceptions with Speed and Personal Care – Make Them Feel Grateful

Even the best-designed digital journeys face exceptions. The key lies in how quickly and empathetically you handle them.

Enable ad-hoc routing, rule-based exception handling, and escalation workflows. Leverage AI, machine learning, and natural language processing to identify patterns and recommend solutions automatically.

Pro Tip: Integrate live video calls or chat support for real-time problem resolution and maintain the human touch even during escalations.

7. Innovate and Improve Continuously – Find Ways to Delight

Continuous improvement keeps customer experiences fresh and engaging. Combine process analytics with employee insights to optimize your workflows regularly.

Automate monitoring to detect friction points and measure performance metrics like completion rates, satisfaction scores, and turnaround time.

Pro Tip: A BPM-driven automation platform provides the flexibility to experiment, innovate, and refine your customer journeys continuously.

The Role of Technology in Emotional Banking

Modern account opening requires a blend of intelligent process automation, contextual content management, and omnichannel communication.

Newgen’s low-code digital automation platform brings these together to create an emotionally intelligent customer journey that balances speed, convenience, and human connection.

Key capabilities include:

• Unified process automation (BPM) for seamless workflows.
• Contextual content services (ECM) for compliance and personalization.
• Customer communication management (CCM) for consistent engagement.
• Low-code flexibility to adapt and scale as business needs evolve.

Building Emotionally Intelligent Banking Experiences with Newgen

With Newgen’s account opening solution, banks can:

• Reduce onboarding time from days to minutes.
• Offer truly omnichannel experiences.
• Minimize errors and compliance risks.
• Empower staff with the right tools and insights.
• Build customer trust through transparent, emotionally aware experiences.

A well-designed onboarding process doesn’t just bring in customers — it earns their loyalty for life.

Start Your Transformation

Transform your online account opening process into a truly delightful journey with Newgen’s AI-enabled, low-code digital automation platform. Deliver speed, personalization, and empathy — all in one seamless experience.