Boost Growth by Quickly
& Confidently Onboarding
More Thin-file Customers
Networking Dinner at Ocean Prime, Chicago

Here’s what we discussed:

As financial institutions of all shapes and sizes continue to focus on growth, the speed of new customer approval has become paramount to ensure ease of onboarding. Any additional request for verification will risk your new customers running to your competition.

This has amplified the pressure to provide the fast and frictionless digital experience many modern consumers have accustomed to. Still, verifying someone’s digital identity can be tricky, especially when looking at consumers with little to no history with financial institutions including thin-file populations, such as Gen Z, younger Millennials, and immigrants. So, how do financial institutions toe the line of minimizing friction for consumers during account opening without inviting fraud?

During this interactive roundtable, Ian Li, Director of Financial Services & Payments at Ekata, a Mastercard company, led the group in the discussion that covered:

• How the rapid shift toward digital onboarding has affected your onboarding process
• Effective ways to create new onboarding strategies that deliver the right level of friction based on customer risk level, remove friction for good customers, and reduce abandonment rates
• How financial institutions can improve the efficacy of identity verification processes