Digital account opening
Opening a checking or savings account should be easy, fast, and secure. Meet your customer’s expectations by giving them a truly digital account opening experience.
Rethink your digital account and onboarding process
Streamline data capture with mobile-ready forms
Increase customer completion rates by making data capture easier and more efficient.
Match the face with the name
Protect against identity fraud and strengthen KYC compliance with real-time ID document verification and facial comparison.
Seamlessly capture signatures – immediately
Reduce abandonment by enabling applicants to complete the process on the spot with an integrated, white-labeled eSignature solution.
Accelerate time-to-completion
OneSpan Sign helps accelerate time-to-completion and reduce abandonment in retail and commercial account openings.
Build trust and enhance credibility
Customers expect a seamless digital experience from start to finish. Elevate your digital onboarding experience with a secure and fully digital process.
Here’s why financial institutions
choose OneSpan.
Faster account opening
Bank of Montreal (BMO) implemented an enterprise-wide eForms and eSignature solution to enable a stronger digital user experience during the onboarding process. With this capability, applicants now open a bank account on their smartphone in less than 8 minutes, which has led to more customer conversations and an incremental revenue increase.
BMO also saw 80% fewer errors within the personal banking account opening process and reduced paper in its retail branches. Once all products have been converted to OneSpan Sign and digital forms, the bank projects it will save ~$98M.
More applicants turn into customers
Prior to Clarien Bank’s digital transformation, Michael Decouto, Chief Digital & Marketing Officer at Clarien Bank explained, “There was a delay in opening [an] account, in fulfilling a personal goal of that customer to start a savings plan or to make a purchase – because it was such a burdensome exercise in terms of having to collect the data, capture their identity, and verify it.”
To solve this issue, Clarien Bank turned to the ID verification option in OneSpan Sign to run identity checks in real time. This capability validates the user’s identity and allows them to sign documents with their eSignature. Not only did this reduce the number of steps in the remote account opening process, but it also removed touchpoints where customers may struggle and drop off.
Greater security and scalability
The Business Development Bank of Canada (BDC) helps over 60,000 entrepreneurs secure financing. The bank digitized their business loan application process to deliver faster approvals, effectively balancing security with the great customer experience they are known for.
Jorge Oliveira, Manager of IT Solutions Delivery at BDC explained, “We chose OneSpan Sign because of the solution’s audit trail, white-labeling capabilities, regulatory compliance, and the ability to easily scale the solution across other areas of the bank.”
Additional resources
case studY
Clarien Bank: Digital account opening transformation best practices
webinar
Balancing security and customer experience in the account opening and onboarding process
Blog
Digital account opening and customer onboarding best practices
ANALYST REPORT
BMO: Digital transformation in personal banking
WEBINAR
Customer first, security always: Optimize the customer experience with eSignature and ID verification
BLOG
Redefining the digital account opening and onboarding customer journey
