Understanding Customer-centric Banking: The Future of Account Opening

First impressions matter even for banks! And it is the account opening process that can make or break the experience for the customer. While traditional financial institutions are making progress, challenges like legacy systems and broken processes are resulting in high application abandonment rates, increased fraud, and strong competition from challenger banks to modernize.

Improving the account opening system can carry long-term implications for a bank’s profitability, customer loyalty, and retention. By taking a customer-centric approach and staying on top of the latest trends, banks can capture tremendous opportunities for growth.

Download the whitepaper to get detailed insights into the following:

• Factors that hamper the account opening experience
• Emerging online account opening trends that financial institutions need to watch out for
• Actionable steps for banks to transform the account opening experience
• How Newgen’s online account opening solution is helping banks improve profitability