Bankers who foresee a day when consumers will routinely seek to open checking, loan, and investment accounts in digital channels should rethink their timing. That day is already here, and this irreversible shift is shaping not only the “branch of the future” but also branch-centric banking.
The inescapable truth is that consumers demand omnichannel options and coordination that enables them to open any type of account wherever they choose: in branches, through call centers, online, and increasingly on mobile devices. But what consumers view as a simple choice is far from simple to deliver. Building better digital account opening presents multiple challenges for financial institutions.
This whitepaper, sponsored by ID Analytics, explores the fundamental and irreversible shift to digital account opening, and the challenges facing financial institutions seeking to fulfill consumer expectations for a process that is fast, simple, integrated, and secure. The whitepaper was independently produced by JAVELIN.