2019 March

Spiral by Khairul Nizam

25 Mar: What can FinTechs teach banks about the importance of user experience – and how to deliver fast and secure customer onboarding.

Change is coming. In a survey regarding client onboarding in banks 40% of consumers stated to have abandoned bank applications and 39% of those abandonments were due to the lengthy process. Additionally, more than a half declared that they would be more likely to apply for a financial product if the process was fully online. These results give a glimpse into the shift in clients expectations regarding financial services and products in recent years. This transformation in customer expectations is a result of many different factors. One of them is digitalisation and the overwhelming impact of big companies like Google, Facebook…

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18 Mar: Why you should not use a DIY solution for identity verification – and what you can gain by outsourcing the process.

Onboarding is your first main contact between your company and your new customer, and is often viewed as the foundation for what dealing with your company will be like. Building loyalty and customer satisfaction right at the beginning of this relationship may be a crucial step in future collaboration. Therefore, onboarding should not be confusing or frustrating for the customers. It is no secret that manual KYC reviews can be inefficient and costly. They are more time-consuming and not as accurate as automated solutions for identity verification. A complete identity verification should consist of: – matching the person’s face with…