How will consumers open checking accounts and apply for loans in the not-too-distant future? Here are five likely possibilities.
Fifty years ago, there was only one way to open an account: head downtown to your local bank, find a clerk, and ask him or her to help you. Today, you can open an account in the branch, over the phone through a call center, through online account opening on your desktop, or through mobile account opening on your smartphone or tablet. In every channel, account opening has gotten faster and easier as institutions have started using data, technology, and design to remove pain points and improve the processes of application, qualification, identity verification, funding, and account creation.
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