Water Cooler Talk

Improved Digital Account Opening Must Be a Top Priority for 2023

Right up there with marketing and aggressive offers, streamlined digital account opening has a huge impact on deposit and loan sales growth. More than ever, consumers expect to finish the entire process on their smartphone, in a matter of minutes.

Jenn Day
Nov 16, 2023

Read the original full article from the Financial Brand here.

Here is a brief summary of the article:

  • Digital account opening streamlines the process for a digital world.
  • Mobile-specific features are added for reporting and fraud prevention.
  • The five core features include personal identity capture, risk/fraud qualification, identity verification, real-time funding, and core banking system integration.
  • Additional features include contextual pre-qualification, online/mobile banking single sign-on, resume capability, electronic signatures, and photo uploads for digital storage.
  • Mobile account opening can drive processes for online and branch openings.
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