| Digital onboarding and account opening has long been a key area of interest for banks in transformation. Traditionally riddled with friction and barriers throughout the process, the undesirable outcomes of sub-optimal origination include an unduly long time to onboard, high abandonment rates, and fraudulent onboarding by bad actors. Each of these outcomes eventually creates a significant impact on businesses. High dropout rates result in revenue leakage, whereas inefficiencies in the process lead to high onboarding costs. |
