Overcoming Onboarding Blind Spots for Banks and Credit Unions

Are you aware of the number of loans and deposits you're losing due to blind spots in your bank's or credit union's onboarding experience? According to the Digital Banking Report, 46% of newly opened accounts go inactive within the first year.

To put it differently, almost one out of every two accounts your financial brand opens has the potential to go inactive in the first 12 months. Think about these questions: How much might these onboarding blind spots be costing you right now? More importantly, what can you do about it?

In this episode, we welcome Har Rai Khalsa, who is on a mission to help banks and credit unions recover business from big mega banks and neo banks, thereby strengthening local financial institutions and the communities they serve.

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Topics:
00:00 Welcome to the Banking on Digital Growth Podcast
02:17 Har Rai's Journey: Embracing Change and Overcoming Challenges
06:23 The Importance of Purpose and a Worthy Adversary
11:41 The Onboarding Experience: Challenges and Solutions
18:01 The Power of Communication in Onboarding
29:32 Human Connection in the Age of AI
37:30 Practical Steps to Improve Onboarding
39:03 Conclusion: Continuing the Conversation