Bank Online Account Opening 2011

Benchmarks and Best Practices

Banks continue to invest heavily in online account opening (OAO), yet not all OAO processes are created equally. The best OAO process requires 69% less data entry than average, for example, and most sites, but not all, throw up unnecessary hurdles that hinder prospect success. This report benchmarks the complete user experience of OAO on 12 leading bank sites, and identifies dozens of OAO best practices that increase conversions.

• Sites Evaluated: 12
• The Top Three Sites Overall: Ally Bank, Wells Fargo, BB&T