Digital Retail Onboarding in CEE – Best Practices and Factors for Success
This e-book explores the state of digital onboarding in retail banking across the Banks in Central and Eastern Europe (CEE) region, offering insights and practical examples on how to build a succesful digital onboarding process.
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.
of Europeans abandoned financial applications in 2020 – 23% more compared to 2019
billion is lost each year by banks due to poor customer onboarding and abandonment
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