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What are banking providers doing to ensure a smooth onboarding experience for new customers? How can they reduce abandonment rates? What does good onboarding practice look like? Whether looking at SME accounts, current accounts or credit cards, these are questions that we often discuss with our clients.
There has been research to suggest that the two biggest reasons for abandonment of the onboarding journey are the length of the process and the amount of information required. But, is the reason for abandonment really due to the length of the process, or could there be an issue with managing customer expectations? Is the problem really the amount of information required, or could it be the ease of providing the information?
We have put together this free report focusing on an important step in the onboarding process that often causes friction in the customer experience: the online application form.
To see how providers in the UK have approached the challenge of improving usability of their online application forms, download this report now.