The silent killer of growth: friction
Despite years of digital transformation, onboarding remains one of the biggest pain points in retail banking. The Future Branches 2025 study found that 41% of institutions say their account opening process is too time-consuming, while 39% report frequent data errors that increase manual work and abandonment.
The result is lost customers, frustrated staff, and slower deposit growth.
In an environment where fintechs offer instant verification and seamless digital experiences, traditional institutions cannot afford friction. FMSI helps remove that friction by turning onboarding from an operational bottleneck into a competitive advantage.
Where the process breaks down
The report reveals that 53% of institutions experience account abandonment rates between 25% and 40%, and more than one-third lose over 40% of applicants before completion.
These breakdowns are typically driven by:
- Manual data entry and verification delays
- Poor integration between loan origination systems, point-of-sale systems, and CRM platforms
- Limited self-service options that force customers to rely on staff support
- Bottlenecks caused by inefficient branch traffic flow
Each inefficiency compounds the next, resulting in missed opportunities, lower conversion rates, and unnecessary strain on branch teams.
Automation as the antidote
To address these challenges, financial institutions are prioritizing practical improvements. According to the study, 61% of leaders plan to strengthen fraud prevention, 59% aim to improve core system integrations, and 52% are focused on delivering more personalized onboarding experiences within the next 18 months.
FMSI directly supports these objectives through:
- FMSI Lobby: Real-time visibility into customer wait times and service flow, helping branches reduce congestion and improve the overall experience.
- FMSI Staff Scheduler: Smarter workforce planning that ensures the right staff are available during peak demand periods, reducing delays and improving service consistency.
- FMSI Analytics: Centralized reporting on process performance, customer journeys, and staff utilization, enabling teams to identify friction points and act on them quickly.
Together, these tools transform onboarding from a fragmented, multi-step administrative task into a guided, data-informed experience.
Metrics that matter
Success in account opening is measurable. Institutions using tools like FMSI Analytics consistently see improvements in:
- Time to service: Shorter wait times driven by better scheduling and queue management
- Conversion rates: Fewer drop-offs and faster movement from application to funding
- Customer satisfaction: Higher NPS scores resulting from smoother, more predictable experiences
The Future Branches 2025 study also highlights that decisioning tools and predictive analytics are among the top investment areas for improving onboarding efficiency. FMSI supports these goals by integrating data across systems and providing clear visibility into every stage of the customer journey.
Reimagining onboarding as a relationship opportunity
Account opening is not just a transaction. It is the beginning of a long-term relationship.
By streamlining onboarding, financial institutions gain speed while unlocking more meaningful engagement opportunities. With FMSI Lobby, staff can identify cross-sell opportunities at the point of interaction. With FMSI Analytics, teams can understand what drives satisfaction and long-term value. With FMSI Staff Scheduler, customers are matched with the right specialist without unnecessary waiting.
Together, these solutions create an onboarding experience that feels effortless for the customer and efficient for the branch.
Conclusion: From friction to flow
The future of branch performance is not about replacing people with technology. It is about empowering teams with better data, clearer workflows, and smarter operational tools.
FMSI provides the foundation for that transformation. By connecting workflows, analytics, and human touchpoints, it helps banks and credit unions deliver the frictionless experiences today’s customers expect and the sustainable growth tomorrow’s performance depends on.
Ready to remove friction from your account opening process? Discover how FMSI’s workflow, scheduling, and analytics tools can transform your branch experience.
