In a recent survey, 500 senior decision makers from commercial and business banks told us that they risk losing business to the newer breed of digital and neo banks due to slow onboarding and manual processes. 

• 78% have already lost customers to digital-first, disruptive banks
• 92% agree they need to transform radically to compete
• 41% rely on manual processes and excel for KYC
• 1 in 5 banks have increased onboarding times, not lowered them