As a result consumers abandon, and it doesn’t take long to lose most potential customers:
- 12% quit after 5 minutes.
- 40% quit after 10 minutes.
- 70% quit after 20 minutes.
- 86% quit after 30 minutes.
- 93% quit after 60 minutes.
Since about one in three (29%) applications take more than 20 minutes to complete, many companies are not meeting this challenge and as a result are losing customers.
To stay competitive and meet this challenge of less than 15 minutes, financial institutions have at their disposal TrustCloud as the only platform needed to deploy their onboarding processes.
Its nature as an integral solution or end to end to perform all the digital transactions involved in the onboarding processes, reduces to less than 10 minutes the duration of this process.