Trends in Account Opening: Mobile Leads, but Seamless Channel Handoffs Close the Deal

Report Overview Mobile remains the primary digital channel for account opening, but digital account opening is still far from a digital-only experience. Applicants continue to move among mobile, online, and branch channels throughout the journey, with branches maintaining an important role even after years of digital investment. 

Javelin’s data reveals an account-opening landscape that is becoming more balanced. Mobile has emerged as the strongest end-to-end digital channel, while online has steadily lost ground across virtually every stage of the application process. At the same time, branches have rebounded from pandemic-era lows and increasingly serve as a destination for applicants who begin elsewhere. The compelling challenges for digital banking strategists are ensuring seamless handoffs and eliminating friction that makes switching a forced decision rather than a matter of preference. 

Key questions discussed in this report:

• How is the balance of power shifting among mobile, online, and branch channels during account opening?
• How does each channel perform in terms of account applications that are begun and finished in a single channel, begun in one channel and finished in another, and begun in one channel, switched to a different channel, then finished in the original channel?
• What are the strengths and weaknesses of the various account-opening channels?