“Industry research estimates that financial services firms lose over €5bn per year due to onboarding drop-offs.
And despite digital onboarding being increasingly common, and even becoming the norm during the COVID-19 pandemic, financial services firms are still not getting it right, with an increase in abandoned applications over the past five or so years. Surely this is a ‘wake – up’ call for financial services firms?”
In the fourth of our video series exploring digital identity issues affecting financial services, HooYu Digital Identity Director, David Pope and FINTRAIL Managing Director, James Nurse, discuss what drives user abandonment.
