Now more than ever banks want to ensure digital banking services are widely available to their customers while also keeping them safe from increasing digital fraud and cybersecurity threats.
In response, more banks and financial institutions (FIs) are offering a remote bank account opening process as part of their online and mobile banking channels. Whether a checking account, savings account, investment or other account, the number of accounts opened from smartphones is growing. Billions of dollars are being invested in digital challenger banks, which are focused on rapidly growing their customer base. Similarly, incumbent banks need to improve the digital customer experience in this area to attract new generations of customers who will drive growth.