CUNA
  • Advocacy
    • Priorities we’re fighting for
    • Actions you can take
  • News
  • Learn
  • Compliance
  • Shop
  • Topics
    • Community Service
    • Compliance
    • Credit Union Hero
    • Credit Union Rock Star
    • Credit Union System
    • Directors
    • Human Resources
    • Leadership
    • Lending
    • Marketing
    • Operations
    • Policy & Issues
    • Sales & Service
    • Technology
  • Credit Union Magazine
    • Buyers' Guide
    • COVID-19
    • Digital Edition
    • Credit Union Hero
    • Credit Union Rock Star
    • Subscribe
    • Advertise
    • Contact
  • COVID-19
  • Advertise
  • Awards
    • Nominate Credit Union Hero
    • Nominate Credit Union Rock Star
  • Podcasts
  • Videos
  • Contact
Learn More about Member Value

News

Member Benefits
Learn more
Learn more about the benefits of membership.
Home » Seamless digital account opening
Technology

Seamless digital account opening

The risk of abandonment increases each time consumers switch channels.

January 15, 2020
Bill Merrick
No Comments
Create a seamless digital account opening experience

While more than half of successful applications for most financial institution products involve online and mobile channels at some point, few applicants complete the process solely in those channels, according to the Javelin report “Digital Account Opening Fails to Deliver a Single-Channel Experience.”

The risk of abandonment increases each time applicants must switch channels, Javelin reports.

How to overcome this obstacle?

Fiserv offers four key principles from the consumer point of view that can create a seamless digital experience.

Consumers say they want financial institutions to:

1. Make it about me. Interact in plain language and provide products and services that fit into my life and allow me to pick up where I left off no matter what device I’m on or where I am.

2. Give me confidence. Guard my information and let me know you’re doing so. Let’s not have any surprises. Provide me with information when I need it and tell me why when you ask me for information.

CUNA Technology Council

3. Get me through this quickly. Ask me only for what’s necessary, respond quickly, help me avoid mistakes, and help me fix mistakes if I make them.

4. Do the work for me. Make the process easy. Let me scan my information and let me use intelligent autocomplete.

“Following those principles is the surest way to differentiate yourself in a tightening marketplace, particularly as it relates to those cornerstone offerings and moments,” says Jeff Sonderman, director, product management, for Fiserv. “If applied at the right moments along the consumer journey, revenue and growth are bound to follow.”

KEYWORDS member experience

Post a comment to this article

Report Abusive Comment

Credit Union Magazine - Spring 2021

Spring 2021

Credit Union Magazine’s Spring 2021 edition features CUNA's 2021 advocacy agenda, strategic planning guidance, and labor market insights.
Digital Edition •  Subscribe

Trending

  • ‘More listening and less attacking’

  • Movement must focus on financial well-being for all

  • Why DEI matters to credit unions

Tweets by CUNA_News

Polls

Who should be the 2021 Credit Union Hero of the Year?

View Results
More

Champion of America’s Credit Unions

Credit Union National Association is the only national association that advocates on behalf of all of America’s credit unions. We work tirelessly to protect your best interests in Washington and all 50 states. We fuel your professional growth at every level and champion the credit union story at every turn.

More CUNA

  • About
  • Careers
  • Contact Us
  • Recommended Websites
  • Privacy Policy

Resources for

  • CUNA Board Members
  • Credit Union Advocates
  • Leagues
  • Press
  • Vendors