Project Endeavour: e-KYC and Customer Acquisition Platform for Retail Banking
In 2019 Mckinsey published research1, showing that retail banks who want to emerge as winners in the race to acquire customer growth in the future will have to take bold steps.
These steps include the need to deploy new technology to both reduce costs and transform the customer experience amongst an increasingly digitally native audience.
The research takes the view that retail banking is now at an inflection point and those banks who are the first to take true advantage of technology to establish new routes to market, and deliver exemplary online customer services, will emerge as the clear leaders.
In recognition of these market realities Synectics Solutions and Yoti are searching for a UK bank to pilot a ground breaking retail banking customer acquisition proposition that will;
- Transform its ability to attract and onboard new customers.
- Significantly reduce the cost of customer acquisition for new retail accounts.
- Simplify and reduce the cost and time of the eKYC compliance process.
- Enhance your customer experience whilst protecting your business against fraud.
The document, available for download now, outlines an invitation to get involved in project ‘Endeavour’ and gives a brief overview of the details of the project for those banks agreeing to take part in the pilot.
1. McKinsey: Succeeding in the new retail banking landscape [Feb 2019]