Case Study: Rabobank boosts online onboarding from 35% to 60% with Signicat ReadID

Rabobank increases online onboarding from 35% to 60% with Signicat

Rabobank, one of the largest banks in the Netherlands, faced a challenge with its time-consuming and manual customer onboarding process. The existing online method had a high failure rate of 50%, largely due to illegible ID documents and issues with a payment confirmation step. Rabobank needed a faster, more user-friendly, and higher-quality solution that could serve a broader target group, leading them to partner with Signicat and implement its ReadID technology.

Signicat's solution involved expanding Rabobank's existing mobile app with ReadID for online identity verification. This completely replaced the manual process, allowing for quick and reliable onboarding completed within minutes. The implementation by Signicat led to a dramatic increase in online onboarding, growing the channel from 35% to 60% of new customers. It also achieved an exceptional Customer Effort Score of 88%, far exceeding the 80% target.

Rabobank