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Digital Retail Onboarding in CEE – Best Practices and Factors for Success

Digital Retail Onboarding in CEE – Best Practices and Factors for Success

FintechOS
15 September 2021
Digital Transformation
SME Banking
SME Lending
Technology

Get insights on digital retail onboarding in the CEE region, including best practices and factors for success.

This eBook explores the state of digital onboarding in retail banking across the Central and Eastern Europe (CEE) region:

  • Insights into the current state of retail banking in CEE
  • Practical examples of digital onboarding done right (Luminor Bank, Tatra Banka, UniCredit)
  • Best practices for ensuring a successful onboarding process
  • How FintechOS can help banks create a frictionless experience for new customers
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Banks in Central and Eastern Europe (CEE) have been investing heavily in digitization for many years – and the recent global pandemic has accelerated the process. The number of people in CEE that have accessed one or more online services has risen by 15% since the start of the pandemic, according to McKinsey.

Yet, banks are losing an estimated €5.7 billion every year due to poor customer onboarding, with 63% of Europeans reporting that they abandoned a bank sign-up process in 2020 — based on research by Signicat.

Onboarding is an essential aspect of any digitization process. Building customer-centric, data-driven and easy-to-use journeys can enable banks to gain new users and measurable ROI. This eBook provides best practices for digital onboarding across the CEE region.

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63%

of Europeans abandoned financial applications in 2020 – 23% more compared to 2019

€5.7

billion is lost each year by banks due to poor customer onboarding and abandonment

50%

of survey respondents confirmed they conducted financial transactions digitally

Based on our experience so far in the Central Eastern Europe region, successful onboarding includes several factors: a good strategy, good advice, compliance with local laws and regulations, access to products and great technology.

Todi Pruteanu

VP Ecosystem with FintechOS

Get insights on digital retail onboarding in the CEE region, including best practices and factors for success.