Automatically guide customers through the process of registering and activating a bank account

Challenge

The bank was facing the challenge of a high number of abandoned new account registration processes. More than 25% of potential customers started the account opening process, but did not complete the registration. The main problem was a lack of clear instructions and insufficient communication at each stage of the registration process. In addition, many customers did not fully activate the account or use its features after signing up. The bank was looking for a way to improve onboarding to increase the number of active users and reduce the number of abandoned registrations.

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Action

To address this problem, the bank implemented iPresso, a marketing automation system that guided customers through the entire account opening process and then supported them in the first steps after account activation. Key elements of the implementation included:

1.  Automatically guiding customers through registration
   Each new customer, once they started the registration process, received automated, personalized emails that took them through the registration steps step by step.
   If a customer interrupted the process, the system sent reminders with a link to continue the application and simple instructions on how to complete the missing information.
   The system identified key moments when customers were most likely to abandon the process, and tailored communications to reinforce the motivation to complete it (e.g., “You're only 1 step away from opening an account!”).

2.  Automatic education campaigns after account activation
   After completing registration and account activation, customers automatically received a series of educational emails that explained how to use key account features (e.g., setting up automatic payments, using the mobile app, creating savings).
   The system educated customers about additional banking services, such as savings programs, loans and international payments, tailoring the content to customers' preferences and previous activities.

3.  Automated SMS and push notifications
   In addition, customers received SMS and push notifications (in the mobile app) that reminded them of the steps necessary to fully activate their account, such as confirming their identity, making their first deposit or activating their debit card.
   In the event of inactivity a few days after account creation, the system sent proactive reminders explaining the benefits of active account use.

4.  Integration with CRM and activity monitoring
   The automation system was integrated with the bank's CRM, which allowed the bank to monitor each customer's progress and automatically tailor communications based on their activity (or lack thereof).
   Customers who made their first deposit or activated their card received congratulatory messages and additional materials on the further benefits of using the account.

5. Optimizing the onboarding path
   Based on automation data, the bank regularly analyzed which parts of the onboarding process caused the most difficulty, allowing it to optimize forms and eliminate unnecessary steps to make account opening even easier.

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Results

• The number of abandoned registration processes dropped from 25% to 15%, which meant 57% fewer uncompleted applications.
• Reminders and instructions delivered automatically at appropriate times increased the likelihood of completing registration by 45%.
• 20% of new customers made their first deposit within 48 hours of account opening, an increase compared to results before automation was implemented.
• The number of debit card activations increased by 9%, further increasing customer engagement with the bank.
• The average time required for full account activation (from registration to first deposit) was reduced from 5 days to 2 days thanks to automated reminders and education.