{"id":4435,"date":"2023-06-30T09:26:14","date_gmt":"2023-06-30T07:26:14","guid":{"rendered":"https:\/\/innovatrics.com\/trustreport\/?p=4435"},"modified":"2023-06-30T09:26:16","modified_gmt":"2023-06-30T07:26:16","slug":"how-365-bank-improved-online-onboarding-with-two-simple-features","status":"publish","type":"post","link":"https:\/\/innovatrics.com\/trustreport\/how-365-bank-improved-online-onboarding-with-two-simple-features\/","title":{"rendered":"How 365 Bank Improved Online Onboarding with Two Simple Features"},"content":{"rendered":"\n
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Contributors:<\/h3>\n\n\n
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Gabriel Dzan<\/h3>\n

Product Manager at 365 bank<\/span><\/p>\n <\/div>\n<\/div>\n\n

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Filip Lehock\u00fd<\/h3>\n

Head of Digital Business at 365 bank<\/span><\/span><\/p>\n <\/div>\n<\/div><\/div>\n\n\n\n

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365 bank is a new-age bank that wants to revolutionise the way people in Slovakia approach their finances. They want their customers to always have all banking services available at their fingertips, no matter where they were.<\/p>\n<\/div>\n<\/div>\n\n\n\n

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More than 70% of the bank\u2019s customer base use the 365 bank app to open a new account. <\/strong>Nevertheless, the bank wanted to simplify and make the onboarding process less troublesome for their customers.<\/p>\n\n\n\n

They found out that it was identity verification that customers struggled with the most<\/strong>. Back in the day, onboarding customers had to connect to a video call or visit a branch to verify their identity. This meant directly talking to the employees which often made the onboarding process too long<\/strong>. <\/p>\n\n\n\n

To make things faster, 365 bank introduced biometric verification into the onboarding process<\/strong>.<\/p>\n<\/div>\n<\/div>\n\n\n\n

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Biometrics to the rescue \u2013 or not?<\/h2>\n\n\n\n

The customers quickly took to the biometric technology by Innovatrics. Yet, around 25% of customers still preferred video calls over the faster biometric verification<\/strong>. <\/p>\n\n\n\n

To find out why, the bank asked a group of customers who had chosen video calls to verify their identity. The discussion revealed that some customers didn\u2019t trust the technology<\/strong>, while others had technical limitations<\/strong> that made them think they couldn\u2019t handle the process. <\/p>\n\n\n\n

To solve this problem, 365 bank did that extra UX push<\/a><\/strong>, and designed two features that guide their customers.  <\/p>\n\n\n\n

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A screen that explains it all<\/h2>\n\n\n\n

Before any verification takes place, customers have to choose which route they will choose<\/strong> \u2013 biometrics, a video call or visiting a branch. At this point of onboarding, 365 bank displays a screen which informs the customer about the benefits of biometric verification<\/strong>. <\/p>\n\n\n\n

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\u201cThe customer must first agree with biometric verification. If they do, they are automatically taken through the verification process. However, for those customers who select a different option to verify themselves, we designed a new screen which assures them about how simple and safe biometric verification is<\/strong>.\u201d \u2013 Gabriel Dzan, Product Manager at 365 bank.<\/p>\n\n\n\n

The screen explains that biometric verification is as simple as taking a selfie<\/strong>, will only take a couple of seconds and there\u2019s nothing to worry about. Then, the app asks again if the customers want to verify with biometrics or choose another option. And many of them do change their minds<\/strong> and go for biometric verification<\/strong>. <\/p>\n\n\n\n

\u201cThe number of customers using video calls dropped from 25% to below 10% after adding that screen.\u201d <\/p>\u2013 Filip Lehock\u00fd, Head of Digital Business at 365 bank<\/cite><\/blockquote>\n<\/div>\n<\/div>\n\n\n\n

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\u200b\u200bWalkthrough tips for ID verification:<\/p>\n\n\n\n

  • \u200b\u200bZoom in<\/li>
  • \u200b\u200bDim the lights<\/li>
  • \u200b\u200bTake a picture of the front side<\/li>
  • \u200b\u200bTake a picture of the back side<\/li>
  • \u200b\u200bWatch out for reflections<\/li>
  • \u200b\u200bLet’s do this!<\/li>
  • \u200b\u200bMore light<\/li>
  • \u200b\u200bCenter it<\/li>
  • \u200b\u200bHold on<\/li><\/ul>\n<\/div>\n\n\n\n
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    Walkthrough tips in realtime<\/h2>\n\n\n\n

    The walkthrough tips created by Innovatrics inspired 365 bank to provide similar tips for their onboarding customers. \u201cWe noticed that some of our customers have trouble verifying their identity without proper instructions. When we turned to Innovatrics, they already had the answer,\u201d says Gabriel Dzan, Product Manager at 365 bank. <\/p>\n\n\n\n

    The 365 bank app guides the customers through verification in realtime<\/strong>. Having the tips appear when needed, instead of a static list, allowed 365 bank to include more instructions. For face verification, the bank designed 14 tips<\/strong> that only appear on the screen one at the time. For ID verification, the bank implemented 9 tips<\/strong>. <\/p>\n\n\n\n

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    This type of realtime guidance helps 365 bank\u2019s clients in the verification process immensely because it tells them exactly what to do. In some cases, no tip will pop up because the customer is doing everything right. On the other hand, some customers may see all the tips present in the app popping out on the screen. <\/p>\n<\/div>\n<\/div>\n\n\n\n

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    AUTHOR:<\/strong> Krist\u00edna Zrn\u010d\u00edkov\u00e1
    ILLUSTRATIONS:<\/strong> Matej Mih\u00e1lyi
    VISUALS:<\/strong> 365 Bank<\/p>\n","protected":false},"excerpt":{"rendered":"

    365 bank is a new-age bank that wants to revolutionise the way people in Slovakia approach their finances. They want their customers to always have all banking services available at their fingertips, no matter where they were.<\/p>\n","protected":false},"author":6,"featured_media":4481,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[33,65,64],"yoast_head":"\nHow 365 Bank Improved Online Onboarding with Two Simple Features - Innovatrics<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/innovatrics.com\/trustreport\/how-365-bank-improved-online-onboarding-with-two-simple-features\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How 365 Bank Improved Online Onboarding with Two Simple Features - Innovatrics\" \/>\n<meta property=\"og:description\" content=\"365 bank is a new-age bank that wants to revolutionise the way people in Slovakia approach their finances. 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