![]() ![]() And with the need for consumers to social distance and for lenders to still provide consumers credit options in response to COVID-19, this threat will only increase as more and more consumers apply for credit solutions online. ![]() Meanwhile, financial institutions facing growing fraud threats in digital channels are wary of introducing additional checks which have historically added complexity to credit applications and eroded consumer experience. Those early moments of engagement are crucial and must be positive in order to create a great customer experience – a necessary step to ensure you don’t lose a customer before you ever had them. You spend significant time and resources attracting consumers to your websites and apps. ![]() Any organization with a digital channel needs to focus on high-value customer journeys, such as onboarding the customer for the first time. This evolution was already in-flight across the financial services industry with digitalization however the crisis has simply heightened the need to act and act fast!Īs smartphone adoption continues to accelerate across the globe, consumers increasingly expect seamless real-time fulfillment from financial institutions in the same manner they have grown accustomed to when transacting with leading e-commerce players. As the COVID-19 crisis evolves and social distancing creates new challenges, we also foresee that it will create an opportunity for businesses to automate and become more efficient. ![]() Digital transformation is increasingly becoming a key strategic initiative for financial institutions across both digital and traditional channels. ![]()
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