What if, you could simplify onboarding journeys, and improve customer application conversion rates?
At Open Banking Expo UK & Europe next week, Equifax will showcase its Apply+ solution, which helps to reduce the amount of information customers need to input manually as part of their application process, while allowing organisations to benefit from the use of Open Banking data automatically.
As many as 68% of consumers have abandoned a financial application*, due to either not having the right identity credentials, the length of the process, or due to being asked to take action out of the application channel.
Digital maturity has made consumers demand slicker and more effortless journeys, increasing the pressure on organisations to make customer journeys as easy as possible, thereby reducing the risk of consumers dropping out of the process.
Apply+ improves conversion of online applications by pre-populating required information – like your customer’s name, age and address – without asking them to complete any of this information, by linking to Equifax’s extensive bank account database in real-time. Apply+ will help you reduce application times from over three minutes to just 30 seconds**, improve conversion rates and reduce drop offs.
Anything’s possible when you ask, what if?
Equifax is an official stage partner of Open Banking Expo UK & Europe on 15-16 October, hosting sessions titled ‘Harnessing Open Banking for growth, trust, and better customer outcomes’ and ‘Is Open Banking solving the financial inclusion challenge?’. Click here to find out more about attending, exhibiting and sponsoring.
Please visit the Equifax stand to talk to our team about how we can help you with Open Banking solutions.
Visit equifax.co.uk/openbanking to book a free consultation with one of our Open Banking experts to find out more or email us on contactus@equifax.com
