Find out how Tradera, the leading online commerce marketplace in Sweden, is using Tink’s account verification solution to provide an even simpler and more user-friendly onboarding and payout experience.
It’s time for the industry to catch up with the first movers of open banking, but the end goal is not to meet regulation. It’s about increasing sales and productivity, and reducing risk - to get a return on your open banking investment.
Quick and seamless onboarding is a way to gain an edge in today’s cutthroat fintech landscape. After using autofill, our partners Avanza and Qliro managed to reduce friction and boost conversion rates – in vastly different onboarding scenarios. The solution can also be applied beyond financial services, whenever filling in bank account or ID information can help customers save time.
Customers’ first steps inside your service are critical. Asking them to fill in lengthy online applications in order to get started can lead many of them to abandon your offering – and perhaps go explore a competitor’s. Tink’s autofill solves this by fetching the information straight from the customers’ bank accounts and automatically filling it in, making for a more seamless experience – and higher conversion rates.
With a high application drop-off rate, Swedish savings and investment bank Avanza turned to our aggregation technology, to automate their onboarding process and help customers set up a new account in minutes, not weeks.
Customers can be demanding folks. The speed and seamlessness of technology today has conditioned us all to expect the same experience in every interaction – whether we’re booking a hotel, buying paper towels on Amazon or filling in a banking application. The first two instances have adapted well to the shifting expectations – the latter, not so much.