Infographic: OneSpan Secure Account Opening

Consumers want the convenience of opening accounts online, so what’s preventing financial institutions from going digital?  One of the biggest challenges facing banks today is the need to balance customer experience with risk and security.  Consumer abandonment rates range between 65% and 95% due to legacy manual processes.  New account fraud in North American reached $3.4 billion last year, according to Javelin Research.

OneSpan is addressing these issues and transforming the digital account opening experience with their new Secure Agreement Automation solution.  Through an automated ID verification process that includes multifactor authentication and biometrics checks, combined with e-signatures and an end-to-end audit trail, OneSpan enables secure digital account openings in minutes instead of weeks, and helps fight application fraud and synthetic identities.

This infographic describes these digital transformation challenges faced by financial institutions.

VIEW INFOGRAPHIC BELOW!