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Major European Bank Doubles its Customer Acquisition Rate 

The FintechOS-powered digital onboarding solution enabled the bank to enact a digital step-change, accelerating the bank’s growth and positioning it as a market-leading online service provider. 


A bank serving 10 million+ clients in multiple countries – facing increasing competition from neobanks and digital players — wanted to build a digital onboarding journey that was fast, seamless, and capable of reducing drop-off and attrition rates. The FintechOS platform enabled this dramatic transformation and doubled the bank’s customer acquisition rate.


To meet the expectations of today’s digital-first customers, the bank knew its onboarding experience needed to be fast, convenient, and fully digital. Hampered by legacy systems and realizing that friction-filled processes were holding it back from realizing its growth goals, the bank needed a technology partner that could innovate antiquated processes, including the bank’s time-consuming Know-Your-Customer (KYC) checks and the need for signatures on paper documents in-branch, while keeping mission-critical legacy systems in place.


The bank selected the FintechOS fintech enablement platform, which was able to expose and extend the capabilities of the bank’s legacy systems, while also enabling the bank to transform its onboarding processes for current accounts, personal loans, and cards and streamline the customer experience.

The FintechOS platform’s composable business capabilities enabled the quick creation of a fully digital customer onboarding solution. Integrating with the bank’s legacy systems, the FintechOS platform gave the bank a single view of its customer data. With this view, the bank could leverage its data to personalize products, customer journeys (such as onboarding and origination), and marketing campaigns, making the customer experience much more convenient.


The bank achieved its goal of omni-channel “any device, any setting” customer onboarding in record time. FintechOS transformed the onboarding process to a frictionless digital journey that can be completed within 10 minutes. FintechOS also enabled the bank to revolutionize its in-branch experience for customers who prefer to open accounts in person, guided by a bank employee.

In the first six months, the bank doubled its number of new retail accounts in one division. With the FintechOS-enabled solution – which integrates with and extends the bank’s legacy systems – the bank has achieved a 45% reduction in drop-offs during onboarding, 60% reduction in operational costs, and 90% improvement in the accuracy of KYC checks.

The Future

Building on the success achieved with FintechOS, the bank is continuing to digitalize the customer experience across its business lines and integrate these into its wider ecosystem. The next areas shortlisted for transformation include corporate finance and property lending.

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