Digital Onboarding in Banking

Mystery Shopping: What Swiss Retail Banks Reveal

Set up quickly, never used: Why digital onboarding in banking doesn't begin until after the deal is closed

Pragmatica analyzed leading Swiss retail banks as part of a mystery shopping study:

The analysis covered cantonal banks, major retail banks, as well as challenger and neobanks. The analysis is not a scientific study, but rather a practical assessment from the perspective of customer expectations and the customer experience.

Digital onboarding at many banks is significantly better today than it was just a few years ago. Opening an account, receiving an IBAN, activating online or mobile banking, and using a card: What used to take days or weeks can now be done almost instantly with several providers.

But this is precisely where the real challenge lies.

Just because a customer relationship has been established doesn’t mean it’s an active one. The crucial moment comes after the deal is closed:

Is the bank’s clientele provided with clear guidance?

Do customers know what to do next?

Do they experience initial, tangible added value, and is that momentum leveraged to highlight relevant service offerings?

What the Market Analysis Shows

The good news: 14 out of 15 digital onboarding processes deliver a successful customer experience.

Many banks today guide customers smoothly through the account-opening process, adopt a “mobile-first” approach, and provide key services such as IBAN, banking apps, or cards relatively ready in no time.

The figures clearly show the progress that has been made:

IBAN: Available immediately in most cases
E-/M-Banking: Available after 1 business day, on average
Card: Available on average after 3 business days
7 banks offer instant enabling and e-/m-banking activation
3 banks offer instant card issuance

At the same time, significant differences remain. The timeframe for providing an IBAN ranges from immediately to 8 business days; for e-banking and mobile banking access, from immediately to 10 business days; and for the card, from immediately to 12 days. More than half of the banks still rely on physical mail—and thus fail to meet the expectations of many new customers for a fully digital onboarding process.

Even more importantly: After opening an account, many banks go quiet—with the only interruption being physical letters containing the card and login information. There is often no clear strategy for guiding new customers toward their first active use of the account. Neobanks like Revolut and Neon show how it’s done.

How does your bank rank in the onboarding comparison?

We analyze your customer journey, identify gaps, and prioritize quick wins. Get in touch for a no-obligation session!

Where banks are wasting potential

No bank is entirely convincing throughout the entire customer journey. Often, the onboarding process itself is solid, but the transition to active use remains weak.

Common fractures include:

Switching between multiple apps and having to log in repeatedly slows customers down
Physical mail interrupts digital journeys.
The next steps aren’t always clear.
Welcome messages provide information but do not engage
True “WOW” moments are rare.
Feedback is rarely sought after onboarding—potential for improvement remains untapped

However, positive examples show what is possible:
An IBAN that is immediately visible, structured welcome emails that guide customers through the first few weeks, seamless app activation, well-designed mobile journeys, or a high-quality card presentation. Moments like these build trust and increase the likelihood that customers will actually use their new banking relationship.

The First 90 Days Are Crucial

Three archetypes emerge during the activation phase:

Strong Enablers Without Follow-Through Momentum

They make the account, app, and card available quickly, but then hardly capitalize on that momentum to encourage further use or offer relevant promotions.

Aggressive Activators

Frequent reminders about making a first deposit or using the service can draw attention, but they can quickly come across as intrusive.

Constant Companions

This group uses regular newsletters or app notifications. However, personalization is often still lacking. Generic communication is no substitute for a customer journey that is based on the customer’s actual behavior.

“Best-in-class” doesn’t mean more communication.

It means more relevant communication: at the right time, through the right channel, and with clear benefits.

From Onboarding to an Active Customer Relationship

Banks should not view digital onboarding as a completed process, but rather as the starting point of the client lifecycle.
Key questions include:

Which activation triggers are missing: login, first card use, first payment, or receipt of pay?
How much communication is “just right” —and which communication is behavior-based rather than generic?
How is the transition to the self-service catalog managed (CLM events)?

Those who systematically use these signals can better support new customers, reduce drop-offs, increase self-service usage, and tap into cross-selling and upselling potential in a more targeted way.

Pragmatica supports banks precisely at this intersection: digital onboarding, self-service and client lifecycle management, multi-experience and channel management, as well as CRM and consulting.

We combine market analysis, user journey analysis, UX optimization, and implementation experience.

A good place to start is with an Onboarding & Activation Quick Check:
In 2 to 3 weeks, we’ll analyze your customer journey, identify gaps, and prioritize the most important quick wins.

Act now

Opening an account is an important step. The real value comes afterward.

The quality of this initial experience serves as a calling card for your firm and significantly shapes how it is perceived as a confident partner for its clients’ financial needs.