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TrustCloud Client Onboarding B2C
The qualified service to remotely bring new clients and open new accounts in less than 10 minutes
Financial institutions have up to 15 minutes to onboard customers. A goal that only a few of them achieve.
Market data indicate that banks, credit card issuers and other financial institutions are losing more than half of their potential customers (55%) if applications are delayed.
As financial services become increasingly digital, businesses struggle to keep up with consumer expectations over the digital services. The most common points of frustration when performing onboarding is the amount of personal information required (31%) and the time it takes to complete the process (28%).
The results of market analysis clearly point to a loss of new customers if the onboarding processes are lengthy and tedious. The main conclusions are that:
quit after 5 minutes.
quit after 10 minutes.
quit after 20 minutes.
quit after 30 minutes.
quit after 60 minutes.
Since about one in three (29%) applications take more than 20 minutes to complete, many companies are not meeting this challenge and, as a result, are losing customers.
To stay competitive in the new digital economy and meet this challenge of less than 15 minutes, financial institutions have at their disposal the TrustCloud qualified identification and video-identification services as the only solutions needed to deploy fast and secure onboarding processes.
Its nature as integral solutions or end-to-end to perform all the digital transactions involved in the onboarding processes, TrustCloud reduces to less than 10 minutes the time of this critical process.