January 24, 2023 – Onboarding has become one of the hottest topics that comes up in calls between Aite-Novarica Group advisors and FI teams. The drive to improve the onboarding experience is fueled by the belief that improved onboarding will drive account profitability, retention, sales, speed to revenue, and loan growth. Almost all bankers believe in the importance of this.
This report covers information critical to FIs and fintech providers alike that seek to better understand the business onboarding experience, opportunities to remain competitive, and key driving factors that encourage business customers to partner with fintech providers and “quietly abandon” loyalties to their current FI. It is based on an online survey of 790 employees of midsize and large corporations in seven North American and European countries that Aite-Novarica Group undertook in Q2 2022.
Clients of Aite-Novarica Group’s Commercial Banking & Payments service can download this report and the corresponding charts.