The 5 biggest challenges that financial services face in digital onboarding and how to overcome them

Partager :

biggest challenges in digital onboarding 5 biggest challenges for financial services

In the ever-evolving landscape of digital transformation, financial institutions across Europe face unique challenges as they transition towards digital onboarding. While the promise of enhanced customer experience and operational efficiency are compelling, certain roadblocks can pose substantial hurdles if not adeptly addressed. QuickSign, Europe’s leading SaaS platform, is revolutionizing this journey with its state-of-the-art compliant technological stack. 

In this article, we’ve decided to explore the top five challenges related to digital onboarding and how to overcome them as a financial service. 


Challenge 1: Navigating Regulatory Compliance

Regulatory compliance, including the AML 5th Directive, GDPR (General Data Protection Regulation) and eIDAS (electronic Identification, Authentication and Trust Services), can be a formidable task. Financial institutions need to ensure that their digital onboarding process is fully compliant to evade potential penalties.

The QuickSign approach: QuickSign simplifies this maze with the power of certified products. Our platform integrates automated KYC procedures and electronic signatures, ensuring swift, accurate, and compliant customer onboarding. Thanks to our certified technology, compliance is no longer a hurdle but a seamless part of the process.


Challenge 2: Ensuring Data Security

In the age of digitization, data breaches are a pervasive risk. Protecting customers’ sensitive data during the digital onboarding process is a critical obligation for financial institutions. Financial services need to demonstrate their respect and commitment to GDPR. 

The QuickSign approach: QuickSign is dedicated exclusively to financial services and therefore places paramount importance on data security. Our platform, powered by AI and state-of-the-art encryption technologies, ensures the security and confidentiality of customers’ data throughout the onboarding process. 100% GDPR compliant.


Challenge 3: Providing a Seamless User Experience

Crafting a seamless, intuitive user experience for a diverse customer base is an essential, albeit challenging aspect of digital onboarding. An 20 year old student opening a bank account will have radically different expectations and behaviors than a 55 year-old applying to insurance for their household.

The QuickSign approach: QuickSign stands by its commitment to “simple sign-in journeys for everyone.” Our user-centric platform, enhanced by AI and machine learning, offers an intuitive interface and clear instructions, ensuring a smooth onboarding journey for all users. Exceptions are handled on the fly and performance is monitored closely to ensure the highest level of conversion on the market. 


Challenge 4: Technological Integration

Merging new digital onboarding technologies with existing legacy systems can be a complex task, often leading to compatibility issues and technical glitches. At stake is ensuring that financial services and new technology providers “speak the same language”. 

The QuickSign approach: With our single API, integrating QuickSign’s advanced solutions into your existing systems is effortless. The burden of orchestrating multiple technologies–including machine learning, AI for automating the validation of supporting documents and cryptography for electronic signatures–compliance and audits is fully managed on our end. Bonus: for each project, your teams will receive a “Welcome Pack” with everything you need to get integrated fast.


Challenge 5: Ensuring Seamless Cross-Border Digital Onboarding

When scaling massively, financial services often experience the cross-border digital onboarding hurdle. It presents various challenges due to differences in language, culture, and regulations across countries.

QuickSign’s Solution: QuickSign’s EU certified platform, enabled by AI and biometrics, seamlessly adapts to language and regulatory variations, providing a smooth onboarding experience for international customers. 


Looking forward, QuickSign is steadfast in its mission to transform the digital onboarding scene for traditional financial services, focusing on massive, industrial scales. With industry giants like BNP Paribas, AMEX, Santander, Boursorama, and leading global corporations such as Apple, Amazon and Tesla, trusting us with their digital onboarding, we’re just warming up. At QuickSign, we’re not just meeting the future – we’re building it.

For more information about our platform:

Written by Charlotte S.

Get started.

Our experts are dedicated to digital onboarding for financial services.