Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.To curtail application abandonment, European banks will turn to fintech partners and ramp up investment in their digital onboarding capabilities.
The percentage of European consumers who abandoned a digital banking application surged from 38% in 2019 to 63% in 2020, per Signicat. This represents the highest rate of abandonment since the survey's inception in 2016.Insider Intelligence To curtail application abandonment, European banks will ramp up investment in their digital onboarding capabilities, and digital identity verification regtechs will see accelerated revenue growth as a result.
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