Account Opening: Run It Like You Own It

As more consumers continue to use the digital channels to open new accounts, the ability to slice and dice reporting to uncover insights will become more important, finds a new Aite Group report.  

Boston, June 12, 2019 — As customers increasingly migrate to the digital channels, many financial institutions will be forced to rethink their account-opening experience. However, many U.S. FIs do not have the proper metrics in place to understand how their account-opening experience is performing and where they have opportunities to reduce friction in the process. The most successful FIs run their account-opening experience like a business by using rich analytics that uncover insights and are making small incremental improvements to the customer experience. Aite Group’s latest report, Account Opening: Run It Like You Own It, provides banking executives a framework for measuring their account-opening success and strategies to increase application completion that will push more customers over the finish line.

“Banking executives struggle with a lack of the right reporting to manage their account-opening experience and aren’t able to extract insight on where the process can be optimized,” explains Tiffani Montez, senior analyst at Aite Group.

This study focuses on current trends that shape the account-opening experience, the metrics needed to manage account-opening experiences, and best practices in account-opening design. It contains analyses from 24 in-depth Aite Group interviews with senior executives at banks, vendors, and various consulting firms who are responsible for the branch experience, refining their branch strategy, or considering optimizing the account-opening and onboarding experience within the next couple of years.

To request a press copy of this report or to speak with Tiffani Montez about this topic, please contact us at

About Aite Group:
Aite Group is a global research and advisory firm delivering comprehensive, actionable advice on business, technology, and regulatory issues and their impact on the financial services industry. With expertise in banking, payments, insurance, wealth management, and the capital markets, we guide financial institutions, technology providers, and consulting firms worldwide. We partner with our clients, revealing their blind spots and delivering insights to make their businesses smarter and stronger. Visit us on the web and connect with us on Twitter and LinkedIn.

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