Enhancing customer experience

Three new features on the Barclays app have made it easier for customers in the UK to open their current accounts in less than 10 minutes from the comfort of their homes.

During the COVID-19 pandemic, almost all branches were closed in the UK, which resulted in an upsurge in demand for digital solutions for various banking needs. Features on the BMB all such as Letter drop, Retry, and, the recently launched, Standalone KYC are helping customers to open accounts in a few easy steps.

The Letter Drop feature uses GPS technology to establish that the customer is located at their stated address when they apply. If this check is successful a letter is sent to the customer containing a verification code. When received, the customer will input the code into the app and this will serve as verification of their address. This feature has been of great help to our customers who are new to the UK, and other customers such as students who have limited or no credit record, and does away with the need of using Credit Reference Agency (CRA) checks to verify the address of new customers.  

The Retry feature is for customers who faced simple user errors such as blurred image, poor lighting or confusion over the instructions, in their first attempt at  Identity Verification (IDV) and were unable to open the account. With Retry they can take a second attempt at KYC and open their account at Barclays.

Standalone KYC or Barclays Verify removes the need for new to bank customers to book in branch appointments for the sole purpose of completion of KYC. They can now complete the identification process before attending their appointment at the branch saving their and branch colleagues’ time.

So far, 322k customers have opened Barclays accounts out of which 54k accounts were opened after using the Letter Drop feature and 22.5k accounts were active using the Retry option.

Nilesh Chaudhari, Managing Director, Barclays UK Technology, BX India, says, “Digital KYC On-boarding is one of the foundational capabilities in realising an efficient, seamless, digital customer on-boarding experience. The capability upholds the Barclays Mindset of empowering the customer to interact with bank and provide the information without visiting any branches.