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Battle to On-board II: The European Perspective on Digital On-boarding for Retail Banks

Research Type: Overview
Published: 24 May 2018
Pages: 18
File Type: PDF
Size: 1148kb
Analysts: Ana Maria Iliescu
Geographic Scope:    World
Editions: Digital Identity, Security & Online Fraud

The Battle to On-board II Report looks at customers from across Europe and paints a picture of an industry at odds with its customers. 

Two years ago, the first Battle to On-board report looked at how UK consumers saw the bank on-boarding process. It found that, thanks to frustration with slow paper-based processes, and poor online experiences, 40% of UK consumers had abandoned bank account applications.

This follow up report examines the landscape across Europe, looking at countries with an established eID scheme, those without and those in the process of adopting one. It aims to understand what has changed in the last two years in the UK, Germany, the Netherlands and Sweden. It asks:

• Have banks improved the experience for customers?
• What effect does an excellent on-boarding experience have on the customer relationship?
• What do customers want when it comes to on-boarding and digital identity?

The report paints a picture of an industry at odds with its customers. The demand for 100% digital services has grown sizeably and yet many banks are not keeping up. However the demand for digital services presents banks with an opportunity to win business away from those slow to become aware of this issue.

This reading is essential for anyone trying to understand what European consumers want from their banks and the effect that non-delivery is having on these banks’ businesses.