Citi Account Opening flow

An effective digital banking experience should leverage user data and generate insights to drive behavioral changes, provide financial education, strengthen existing customer relationships, and provoke action resulting in customer acquisition. 

Account opening should be progressive, personalized, and mobile first.

When compared to competitors, Citi’s previous account opening process was significantly more burdensome and challenging (i.e. Chase, Bank of America, Capital One, as well as numerous fintech disruptors). The focus of the updated flow relies on education to empower users, provoking actions based on informed decisions.

The ultimate goal is to offer an account opening experience that is personal, simple and secure in under 7 minutes.

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A competitive analysis revealed Citi requires the most information from users.

Testing and research identified additional points this friction:

  • Of all major banks and digital competitors, Citi asked for the most information from a user; a number of required fields were not absolutely essential to opening an account, nor were they required by law

  • At no point in the flow were the benefits of registration or account opening explained to a user

  • Password fields were not visible when a user would type, and password requirements were not disclosed upfront (only after a user entered a password that did not meet password requirements)

  • Users had to confirm their registration through email, which took into a different application (and out of the account opening flow); some users found this to be disorienting

 
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The updated account opening flow solved for these pain points by:

  • Offer users the option to scan an ID card to auto-populate input fields and support identity verification (rather than manually enter personal information into numerous fields, leading to fatigue)

  • Asking for the minimum amount of information by eliminating unnecessary questions to reduce user effort and increased completion rates

  • Explaining the benefits of opening an account so a user understands what they get by creating an account

  • Providing users with the option to see the password as they type it; this ensures a user will make fewer mistakes and allows them to review their password once entered

  • Prominently display password requirements when a user is creating a password

  • Explain to users how the requested information will be used

  • Send user a code in a text message to confirm credential (rather than sending a link through email, forcing users to pogo-stick to a different application); a code sent via text is also easier for a user to input (by simply glancing at the notification displayed at the top of the screen) without switching contexts