December 12, 2018
Making payments and managing bank accounts is no longer a task associated with wallets and purses. For the modern consumer that demands everything at a push of the button, phones are increasingly replacing the wallet.
A recent survey found that 40% of Americans use their bank’s online portal more than any other channel to manage their accounts, while 25% use a mobile device to conduct their banking business. And why shouldn’t they? Consumers are using mobile apps to order groceries, book flights, and apply for jobs — no wonder expectations for instantaneous and seamless services have extended to their financial institution of choice.
Many banks have made strides to meet these now ubiquitous expectations for service on their mobile screens. It’s now a baseline expectation of customers that banking apps offer mobile check deposits, automated bill payment, and around-the-clock customer service. But no matter how many services and digital bells & whistles a bank might offer, these efforts won’t amount to much if they can’t get customers onboard in the first place.
Onboarding customers can be a bank’s very first interaction with customers, or a new opportunity to get existing customers to begin ...