‘How can we attract more users to our service?’
We get that question a lot. And there are thousands of different answers. But if we were to pick one thing – the lowest hanging fruit – the solution is actually quite straightforward: help your customers to sign up as quickly as possible.
By removing the hurdles that could stand in their way, you make it a lot easier for them to step into your service, and then stick around. Hurdles like time-consuming applications that require users to dig up and type in hard-to-access financial information. According to one study, more than half of people have abandoned a banking application because it simply takes too much time and effort.
Autofill is a simple way to come through all this, and reduce the hassle and stress. We can aggregate the financial data of a user, and fill in the application for them. This makes the onboarding experience much easier for users, since they don’t need to do the digging themselves.
Using this solution, we’ve seen many of our partners’ onboarding flows improve dramatically. After online broker Avanza used autofill to automate their fund transfer process – allowing new or existing users to move their funds to Avanza in minutes instead of days – conversion rates skyrocketed by 150%.
Since the data comes straight from the user’s bank accounts, it also removes the risk of human error. Instead of having to look up and then type in a long string of numbers manually, all users need to do is to authenticate to their bank through your service. Much simpler for everyone.
The autofill solution can be used in thousands of scenarios, beyond the financial industry.
Today, when companies like Netflix and Amazon are taking customer expectations to new highs – expectations that inevitably are seeping into banking services as well – a smooth onboarding experience is a major competitive advantage. By automating the cumbersome form-filling stage, you won’t be taking any chances when turning prospects into long-term customers.
The best part is, upgrading your onboarding takes just minutes.
You can find out more about autofill here. To learn more about the type of data that we can aggregate for customers – and how you can get started in just minutes, read article #2 in our simpler onboarding series.
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