There are a number of challenger banks in the UK looking to shake up the traditional status quo, dominated by the incumbents who have a wide range of accounts and financial services available across multiple channels. The question is, has anyone made the jump to 100% digital customer onboarding?
Complicating matters in this pursuit of simplicity, compliance with AML and KYC regulations has created an industry mindset in the UK that this is a barrier to offering a 100% digital experience, with most banks offering a sign-up process that stalls at the point of proving a customer’s identity.
Aimed at providing a realistic assessment of the digital bank account opening landscape in the UK, P.A.ID surveyed and benchmarked leading UK high street banks as well as their challenger bank counterparts.
This benchmark report and whitepaper is the result of this survey and scores and ranks these banks, based upon the live tests and evaluation conducted of the account opening and onboarding process of each.
Interested in digital customer onboarding processes? Download this report, exclusively licensed from P.A.ID Strategies by Mitek, to find out who are the leaders and the laggards in digital account opening.
Note, this project was commissioned by Mitek. The report can be accessed via their website.