The 7 Application Battles Every Banker and Lender Needs to Win
Bankers and Loan originators burn up a lot of resources on attracting clients, especially Millenials, who may start the new account onboarding or apply for loans but never close the deal. But while some measure of abandoned applications may be unavoidable, businesses should continue to look within when seeking methods of improving the customer experience for onboarding and overall growth.
Onboarding or application abandonment can be attributed, at least in part, to errors or bottlenecks that crop up during application processing. Banks and financial institutions often find themselves in a no-win situation: While cutting corners on processing is a recipe for disaster, the oftentimes long procedures can cost them clients if it can’t accommodate a customer’s preferred timeline.
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