In the early years of digital transformation, organizations digitized their customer interactions by merely replicating face-to-face and paper-based processes for the online world. Today, that’s simply not enough to meet the demands of a savvier digital customer. 

Let’s face it, no one likes friction when it comes to completing tasks online. We completely get it. Yesterday, Neuro-ID announced the release of its inaugural FinTech Friction Index^(R) Report, based on over 20 million customer journeys from the world’s top fintechs, analyzed through the lens of friction. Leveraging Neuro-ID’s proprietary, neuroscience-driven analytics and its Friction Index™, the report measures the real-time levels of friction experienced during the digital onboarding process, providing a window into the intent and mindset of the applicants. As an industry ‘first,’ the report ushers in a new level of understanding to improve the digital experience.

The Digital Experience is broken!  Friction-filled processes have created unnecessary frustration, driving away valuable customers as they interact with brands online. While the move to digital has opened an exciting new world of opportunity to shop and purchase from any device, at any time, it has not come without a cost. Critical human elements have been lost, making it difficult to initiate and build lasting customer relationships. This “digital communication gap” between customers and brands have led to poor customer experiences and conversion rates that are a fraction of what they were back when face-to-face interactions were the norm.