Tag: Digital Account Opening

Licking Your Online Applications

More Effective Digital Transformation

Here is the funny thing about the tongue-brain connection - your brain can project, with a very high degree of certainty, what it will feel like if you lick any given object such as your desk, your shirt, car hood, a stucco wall, computer keyboard - you name it. This is despite the fact that you are likely to have zero experience in licking any of those objects in the past. The wiring in your brain is designed to project forward that tongue-licking feeling based on other sensory input, and it does it with amazing accuracy.

How To Use Goal Gradient Rewards In Banking

Behavioral Bank Marketing - Picture of a gift

Put a rat in a maze, and they will speed up as they get near the end as can smell the reward. Forget rats, human sprinters also run the last 15% of a race faster than the previous 30%. Forget athletes, citizens make more donations to a charity as that charity gets closer to its fundraising goal. Forget citizens, bank customers also complete more new account applications, hit savings goals, and complete conversions if they can view a goal that is close.

Our Decision Matrix and the 5 Things To Consider For Digital Account Opening

Digital Account Opening

While most banks think they need a new digital account opening process, the reality is that most banks need a new digital onboarding process. Despite all of our technological progress, it’s the analog process where the most massive failures are. To this point, we just mystery shopped two renowned banks, Umpqua and Citibank, and in both cases, we were met with adjunct failure. Here at CenterState, we are relooking at our digital onboarding process in hopes of getting it right.

Subscribe to Tag: Digital Account Opening