> This is the original version of our [Forbes article](https://www.forbes.com/sites/forbestechcouncil/2023/03/08/reactive-banking-is-dead-long-live-proactive-banking)

“A Bank” used to be a place, where you go once per year to replenish the deposit. Or talk to a manager about the mortgage. But at some point the banks started to build web-portals, iPhone and Android apps, chatbots, and invented the term “[bank in a pocket](https://www.forbes.com/sites/forbestechcouncil/2023/03/08/reactive-banking-is-dead-long-live-proactive-banking/)”. Technically, nowadays most of the banks are available 24\7. 

Banks don’t want you to worry about freeing some time to visit a bank branch. If you have a “bank in a pocket” you can reach out to your mobile phone any time. As soon as you have a need to complete a banking transaction, you can login to the app and the bank will react and provide the service. 

Roughly three in four Americans (76%) have used their primary bank’s mobile app within the last year for “daily banking” tasks like depositing checks or viewing statements and account balances, according to the [Ipsos-Forbes](https://www.forbes.com/advisor/banking/digital-banking-survey-mobile-app-valuable-features/) Advisor U.S. Weekly Consumer Confidence Survey.

Some of the banks went so far as to advertise the free “daily banking” service. 

> "To be focused on customer needs is in our DNA and this is what stands at the heart of our products and solutions. We do believe that daily banking should be free. Moreover, as a challenger bank we always strive to bring the latest innovations for our customers to make their life easier and more convenient" 
<br><br>_Petr Baron, CEO, TBI Bank_

However, such a behavior is an example of reactive thinking. The bank is ready to serve customer’s needs whenever the customer logs in. When the customer logs in and completes the money transfer or utility bill payment – that’s it. That’s the end of the story. 

The question is, can the bank behave <b><u>proactively</u></b>? 

Imagine a bank that treats every transaction as the part of a bigger picture. If the user tops-up mobile phone, why not offer to make it a regular monthly payment? If the user sends the same amount of money every month to a charity fund, why not offer to turn it into a subscription-like service? Why not zoom out from “reactive banking” and start thinking of a “proactive banking” concept?

Imagine a bank that analyzed all the transactions and was able to understand a context for the proactive approach. 

We could learn from the automotive industry. When you go to the car service station, they don’t fix just one thing. The car station runs the diagnostics of your car as a whole. Car repair engineers think in terms of what needs to be done “monthly”, “yearly” or “every 10,000 miles”. They act proactively.

The same way banks could see every transaction as the piece of a bigger puzzle. 

What would be the “whole picture” then? 

The whole picture would be a comprehensive “payment profile” of a customer. Such a profile could include the list of suggested regular payments, subscriptions, and recommended advices on behalf of the bank. 

The “payments” dashboard could include personalized offers, both from the bank and from its partners, as well as personally tailored recommendations on how to convert scattered transactions into a holistic and smart financial behavior. 

“Banking is necessary, banks are not”, – Bill Gates [said](https://techwireasia.com/2019/11/fintech-companies-prove-gates-point-banking-is-necessary-banks-are-not/) in 1994. People need someone to take care of their financial needs, but that doesn’t necessarily involve banks and managers in the branches. 

The old reactive concept was focusing on satisfying the immediate need of the client. The new “proactive banking” approach would mean long term caring about the customers.

Proactive approach would be a win-win situation, both making people’s lives easier and increasing the banks’ profit. And there’s a great enabler for this sort of thinking: the Open AI project. 

GPT can easily understand the context of a client's behavior and immediately react. Imagine a dialogue between the client and the bank’s support agent, where GPT can instantly summarize the conversation and help the live agent do upsell\cross-sell immediately in the chat. 

Imagine “categorisation” skill of GPT that can immediately after the conversation define key parameters: negative\neutral\positive vibe; satisfaction factors: speed, price, quality, UX.

Imagine a client does a series of expensive purchases in a restaurant, airport, clothing store. GPT can instantly offer a premium credit card for such a client. 

Let’s take a look at the PFM (personal finance management) space. GPT can easily say something like: “Hey, Mark! In the course of the last month you were spending most money in a pub each Friday night. Next most popular spending category is transportation and food. However, you don’t save or invest anything. Here’s a tip: you might want to spend less in pubs, that would save you $10,000 in the course of the next 10 years. 80% of people in your city have already opened such savings accounts. Would you like to open one now? 

Honestly, I can’t imagine a bank that won’t embed AI into its digital solution within the next 3 years. Disclaimer: one of the paragraphs of this text was actually written by GPT. Guess which one :) Happy to hear your thoughts in the comment section. 


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Almost 30 years ago Bill Gates said: “Banking is necessary, banks are not.” This thought was unbelievable then, but today it becomes crystal clear that this is the way where the banking industry is shifting.

Reactive Banking is Dead, Long Live Proactive Banking!

> This is the original version of our [Forbes article](https://www.forbes.com/sites/forbestechcouncil/2023/01/20/gone-in-60-seconds-whats-wrong-with-kyc-and-onboarding-in-neobanks/)

People say, you never get a second chance to make a first impression. That is so true for digital neobanks. Millions of dollars of investments in beautiful design, great product and awesome features make no sense if the customer fails to register in the app.

Deloitte research [reveals](https://www.bankbuddy.ai/blogs/TOP-5-Digital-Customer-Onboarding-Trends-2022) that at least 38% of clients dropout during the onboarding process, frequently out of annoyance with the sheer volume of touchpoints involved. 

Experience in the brick and mortar branch is straightforward. Customers go to the branch, sit at the table, fill in forms or answer manager’s questions. Customers may even drink tea or coffee during this process. Sometimes the bank can’t open an account quickly. Then the branch manager will ask you to leave and you will get notified, when the process is complete. 

With digital banking app it’s another story. You’re on your own. No coffee. You download the banking app from Apple store or Google Play and expect to register quickly. 

How much time does it take to start watching movies after you download the Netflix app? How much time does it take to request Uber after you download the app? We’re talking about minutes. 

Customers expect the same from neobanks. And it’s really a tough task. KYC, AML, watch lists, requirements from compliance, legal, security departments. Tons of corner cases that you need to envision. 

Onboarding is, perhaps, the most difficult, nevertheless, the most important part of the neobanking app. You lose a customer at any step in the onboarding funnel – and he’s gone. He’ll never come back to try to onboard again. 

<img src="https://trigger-blog.s3.eu-west-1.amazonaws.com/number_of_clicks_to_open_a_bank_account_statistics_d124404a38.png" style="width: 560px; display: block; margin: 0 auto; object-fit: contain;"></img>
<p style="text-align: center;"><i>Interesting study: how many clicks to open an account? Source: Unguess <a href="https://blog.unguess.io/en/how-many-clicks-does-it-take-to-open-a-bank-account" target="_blank">blog</a></i></p>

> If you compare with traditional banks, we have just 100 secs on-boarding time, better user interface, 24*7 customer service and innovative features like Invest the change
<br><br>_Swapnil Bhaskar, Head of Strategy at Niyo, a digital bank in India_


What is cool in this quote? Of course, 100 secs onboarding time is cool. However, what is even more important, is that the Head of Strategy of this bank knows the exact number of seconds it takes for his customers to onboard in the app, and this is the first thing he names, when describing the value of his neobank for customers. 

Do you know, who is the best professional in onboarding people to the digital app in 2022? Creators of Roblox, Candy Crash Saga and Coin Master  – the world’s [TOP-3](https://www.singular.net/blog/top-mobile-games/) most popular mobile games (by number of instals plus amount of revenue).

<table style="text-align: center;">
  <tr>
    <td><img src="https://trigger-blog.s3.eu-west-1.amazonaws.com/Creators_of_Roblox_6a1474e34a.png" style="
    width: 240px;"></img></td>
    <td><img src="https://trigger-blog.s3.eu-west-1.amazonaws.com/Coin_Master_19b9d04140.png" style="
    width: 240px;"></img></td>
    <td><img src="https://trigger-blog.s3.eu-west-1.amazonaws.com/Candy_Crash_Saga_89a46a3888.png" style="
    width: 240px;"></img></td>
  </tr>
</table>

Designers of the computer games pay a lot of attention to every click in the beginning of the game. If the game doesn’t become “sticky” from the first minutes, the gamer will easily switch to another game. Every click counts. 

We believe, you should approach the onboarding funnel with the same level of scrutiny. Perhaps, you should even have separate managers for various steps in a funnel. Imagine having a manager for the 5th step of the onboarding funnel. 

_“Hi! My name is John Smith. I specialise on the 5th step of the onboarding funnel. I’m proud of the 90% conversion rate at this step”,_ – your colleague might say at the coffee break. Thanks to John Smith the neobank is not losing millions of dollars in revenue. 

What John Smith could do to increase the conversion rates in the onboarding funnel? Let’s take a look at the recent technology trends.  

## ID Verification
When the customer goes to a brick and mortar branch, this part is easy. He just shows his passport to the branch employee. In the digital world we need to check somehow if such a person exists. Depending on the country, there are a lot of ways to complete this step by checking the person against voter registers, consumer, credit, utility and other databases. Some innovative countries, like Ukraine, for example, allow ID verification by sending the request to a digital ID app sponsored by the Government. 

![tnbe-id-verification.jpg](https://trigger-blog.s3.eu-west-1.amazonaws.com/tnbe_id_verification_a7aa391dc5.jpg)
<p style="text-align: center;"><i>O.Bank <a href="/blog/article/neobank-in-9-months-by-trigger-neobank-engine" target="_blank">case study</a></i></p>

## Liveness check
[Trigger Neobank Engine](/neobank-engine) supports liveness check to make sure, that we’re dealing with a real person who is trying to onboard, and not a robot. This technology is based on [AWS Rekognition](https://aws.amazon.com/rekognition/) algorithms and prevents fraud during the onboarding process.

<img src="https://trigger-blog.s3.eu-west-1.amazonaws.com/tnbe_liveness_verification_c83b0f2c76.jpg" style="width: 560px; display: block; margin: 0 auto; object-fit: contain;"></img>

## Biometric verification
Biometric verification algorithms allow to make sure, that the documents are presented by their rightful owners, and not a random guy who found someone’s passport. Such algorithms might be based on selfie-photos or short video recording. For example, the bank might want to compare the picture on the drivers licence with a face seen on the video.  

## Watchlists screening
This part of the onboarding is common both for offline and online experience. We need to make sure that the person is not a PEP (politically exposed person), is not on any sanctions list, interpol lists or adverse media categories. Usually security departments of the banks also have their own stop-lists, that we need to take into account.

AML screening service is a way to check whether a person is free from money laundering risk. AML database might consist of the following categories: politically exposed person, sanction, regulatory enforcement list, reputation risk exposure, profile of interest, insolvency, disqualified director. 

## Proof of address
Some neobanks might want to verify not only customer’s ID, but the address as well. This can be done by allowing the customer to upload supporting documents, such as other bank’s statements, utility bill, council tax letter, benefits letter, house purchase deeds, tenancy agreements. Modern algorithms allow to read data from PDF, png or jpg pictures and automatically verify if the address is real.

## Fraud detection
These are dozens of algorithms, that help to detect signs of fraud, such as VPNs, routed devices, IP spoofing, blacklisted phone numbers, signs of operating systems or SDK manipulations.

## Welcome onboard
Now you understand the complexity of the onboarding challenge. A new customer wants to log in as fast as possible, while the bank needs to reconcile the interests of many stakeholders. Anyhow, there are some best practices adopted in the industry. 
1. Collect the absolute minimum of data necessary to register a new user. You can always request more data later and enrich the user profile until it becomes fully verified.
2. Don’t ask customer questions if you can get the answers from other data sources. For example, in many countries there is no need to ask a question like: “Do you have any overdue loans?” – this data could be automatically obtained from credit bureaus.
3. Approach every customer individually. You could create several risk groups and give a fastline to customers that don’t show any signs of risk. High-risk customers could be asked to run through additional checks. 
4. Set the limits. You might pick up some high-risk operations, for example, international money transfers, that will require additional verification. There is no need to collect tons of data about the customer if he only wants to use the debit card, top-up mobile phone occasionally and pay at grocery stores. 
5. Leverage the power of AI. Everything that can be automated – must be automated. Try to avoid any manual checks. Use text, image and video recognition algorithms to achieve the fully digital KYC experience. 
6. Track every single step of the onboarding funnel. Design the system of A\B testing to constantly test the assumptions, what can be improved. 
7. Get the customer’s email or phone number and design a sequence of follow up communications for those users who abandoned certain steps of the funnel.  

I hope this article will help you to create the culture of obsession with conversion rates between every step of the onboarding funnel. Good news – you don’t need to code the onboarding experience from scratch. There are a lot of ready-made components, templates and modules available online to make your life easier. 

![tnbe-main-image.png](https://trigger-blog.s3.eu-west-1.amazonaws.com/tnbe_main_image_8ff77b3651.png)
<p style="text-align: center;"><i>Trigger Neobank Engine has 300+ ready-made processes, including the best onboarding patterns</i></p>

At Trigger Software we advise on the best patterns of onboarding experience adopted by the leading neobanks in the world. We also guarantee the launch of the digital neobank in 6 months at a fixed cost based on our Trigger Neobank Engine.


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Millions of dollars of investments in beautiful design, great products and awesome features make no sense if the customer fails to register in the digital banking app.

Gone in 60 Seconds: What’s Wrong with KYC and Onboarding in Neobanks?

![tnbe-main-image.png](https://trigger-blog.s3.eu-west-1.amazonaws.com/tnbe_main_image_8ff77b3651.png)

Kyiv, Ukraine. December 2022. – PaySpace magazine [listed](https://psm7.com/awards-2022/nomination/company/ukrainian-fintech-startup/trigger-software/) Trigger Neobank Engine among the best FinTech startups of Ukraine in 2022. Trigger Neobank Engine allows traditional banks to launch their own digital bank in a course of 6 months at a fixed cost. TNBE team created 300+ pixel-perfect screens following the best UX patterns, and also 150+ business processes templates, that can be tailored to any digital banking needs. 

Trigger Interface Constructor and low/no-code tools allow business units to support the solution and enhance it with the new features. Managers without programming skills are able to design new screens and even multi-step scenarios.

In December 2022 Trigger Software company [announced](https://techukraine.org/2022/12/06/wartime-neobank-from-scratch-in-9-months/) the successful launch of O.Bank 2.0 neobank based on Trigger Neobank Engine. The solution offers classic digital banking features: remote onboarding, cards, payments, money transfers, deposits, loans, cashback and others. 

Since 2016 PaySpace Magazine annually names the best FinTech companies in Ukraine. In 2022 more than 200 participants were listed in 10 nominations. 100,000 people are expected to vote online.

> “Trigger Software team is glad to be listed among the best FinTech startups of the year 2022. We are grateful to PaySpace Magazine for working hard all these years and managing this prominent award. I hope in 2023 more banks from Ukraine and worldwide will choose Trigger Neobank Engine to build their digital banking solutions”
<br><br>_Max Bondar, CEO & Founder of Trigger Software_

You can support Trigger Neobank Engine casting your vote on the PaySpace Magazine [website](https://psm7.com/awards-2022/nomination/company/ukrainian-fintech-startup/trigger-software/).

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PaySpace magazine listed Trigger Neobank Engine among the best FinTech startups of Ukraine in 2022. 

Trigger Neobank Engine was nominated for the best FinTech Startup 2022 by PaySpace Magazine

![tnbe-main-image.png](https://trigger-blog.s3.eu-west-1.amazonaws.com/tnbe_main_image_8ff77b3651.png)

The digitalisation of banking services is a potent global trend. One after the other, banks release apps that allow customers to conduct operations independently, update personal data, and conclude loan and deposit agreements. According to a [Citi Bank research](https://ir.citi.com/t1znCKetX63Gtp6jcFm0Yp7PXs8hzK0p4CsDzzjGp6CFNAOffP02w7FKCmiDRhDV5TZPMDhbqQA%3d), **digitalization can reduce banks' operating costs by an average of 47%.**

However, developing one' own neobank is still a challenging and costly project. In this context, the experience of IdeaBank and the history of the creation of the O.Bank 2.0 mobile app, which was released just 9 months after the start of development, is extremely promising. 

> The development of O.Bank 2.0 was a real challenge, given the complexity of the tasks and the deadlines. It was inevitable for us to have a product that would be user-friendly and solid in terms of security. We have received a comprehensive and flexible product, which we can now manage and develop independently. Trigger Software team managed to develop neobank in 9 months despite the war.
<br><br>_Vitaliy Mogylov, Head of Digital Bank at IdeaBank_

## How O.Bank 2.0 was developed
Neobank is a mobile application that provides customers with remote access to a wide range of banking services: from account management and payments to cashback and referral programs. Now, with the release of O.Bank 2.0, IdeaBank can take a significant part in the new emerging market and deepen the loyalty of existing customers.

Typically, the creation of a neobank entails setting up and sometimes building from scratch many digital processes that would allow it to serve customers automatically. In the case of IdeaBank, most processes had to be developed all over again. Taking this into account, the release of a full-fledged neobank with loans and deposits in just 9 months is a record time for the banking sector. 

It has been achieved due to the unique solution Trigger Neobank Engine. The product was created by the Trigger Software team applying the low-code Corezoid platform and the proprietary platform-agnostic interface constructor Trigger Interface Constructor. With these innovative solutions, we were able to provide **speed and flexibility in development**. 

Moreover, we decided to use a custom architecture that allows modifying business processes and interfaces without the need to update applications in the App Store and Google Play. The team managed to implement this idea, and today we can say with certainty that it met its expectations. The development of the O.Bank 2.0 app began in August 2021, and in May 2022, despite the war, the neobank was ready to launch. 

> Some modules were added to the plan when the development was already in full swing. For example, when we realized that syncing with Diia might not work, we decided to create additional ways to authorize users. And when the Ukrainian government announced the ePidtrymka (“eSupport”) program, we added the ability to issue such a card in the application. Such decisions could have slowed down the whole process, but having built the core on Corezoid, we remained flexible and were able to respond to changes quickly. 
<br><br>_Vasyl Sozoniuk, Trigger Software developer_

The principles that were embedded in the basis of O.Bank 2.0 ensure further support and growth of the neobank with minimal involvement of developers. Thus, Trigger Interface Constructor allows managers without programming skills to design new screens and even multi-step scenarios on their own.

## O.Bank 2.0 features
The core of the Trigger Neobank Engine has several modules that together provide users with all the necessary operations without visiting a bank office.

- **Remote onboarding.** O.Bank 2.0 has built-in user registration functionality via OTP Authorization and a face recognition system based on Amazon Recognition. Neobank customers can upload photos or scans of identity documents. Integration with Diia is available, which further speeds up and simplifies the registration procedure.
- **Data safety.** Users can log in to the service using biometric data — fingerprint scanning or face recognition. The software saves the history of each login and allows it to automatically close parallel sessions on other devices. Users' funds are protected by the built-in anti-fraud system, which provides real-time monitoring and protection against the actions of intruders.
Account and card management. Users can easily open different types of accounts and cards without the need to visit the bank office. For each card they can manage limits, block/unblock the card, change PIN and CVV codes.
- **Money transfers.** Transfers between cards and by IBAN are available. O.Bank 2.0 customers can instantly top up mobile accounts all over the world. The system saves payment templates, which is convenient for recurring transactions: utility bills, rent, loan payments, etc.
- **Drawing up deposits and loans** directly from your device, without queues and expectations. It is possible to open both a standard credit line and loans with flexible terms that each user can customize to its needs.
- **History of payments and statements.** All transactions are backed up by the system and are available at any time. Customers of neobank can generate and download statements of cash flows for the selected period in PDF or XLS format.
- **Integrated offers.** Offers from partners are integrated into the list of transactions, which stimulates additional and cross-sales of products and services.
- **Cashback and referral programs.** Cashback accrual from the bank's partners and further withdrawal to customer’s card deepens loyalty to the service, and the referral program with rewards automates the growth of the neobank and its customer base.
- **24/7 online support.** Customers get quick access to online chats with support in Telegram and Viber, as well as local and international support numbers. 

**How much does it cost to develop a neobank?**
The average price of neobank development in CIS according to unofficial data ranges from 3 to 5 million USD. Worldwide, this sum reaches 8 million USD. The duration of such a project is on average 2-2.5 years. Building on the Trigger Neobank Engine significantly reduces the cost of development and further support of the neobank. 

> The era of neobanks is just beginning, and we are happy to help IdeaBank enter this market. Our unique technologies can guarantee the launch of the neobank in just 6-9 months and 7-10 times cheaper than the development of a similar product by an in-house team. With each new client, we will accelerate the process. Today, we are ready to launch a new neobank in 6 months, not 9, as it was with IdeaBank. In addition, the product can be supported and developed by an internal team, which is an extra guarantee of security and the ability to quickly adapt to new challenges without dependence on the vendor
<br><br>_Max Bondar, CEO of Trigger Software_

Besides a wide range of options for customers, O.Bank 2.0 app also has features that help to optimize the work of the bank's team:

- A flexible interface constructor provides the ability to create new funnels or scenarios, which opens up huge scope for testing new approaches to interacting with neobank users.
- Built-in CRM-system enables management of the customer base in automatic mode.

With Trigger Neobank Engine today it is possible to launch a fully functional neobank in 6 months and at a fixed cost. After release, this solution enables the bank to maintain and develop the application with minimal expenses.


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Using Trigger Neobank Engine it is possible to launch a fully functional neobank in 6 months and at a fixed cost. After release, this solution enables the bank to maintain and develop the application with minimal expenses.

Neobank from scratch in 9 months powered by Trigger Neobank Engine

> This is the original version of our [Forbes article](https://www.forbes.com/sites/forbestechcouncil/2022/11/30/the-beauty-of-neobanks-why-ui-sells-and-ux-pays-in-banking-apps)

## _“The design is not just what it looks like and feels like. The design is how it works” - Steve Jobs_

For thousands of years banking wasn’t considered to be a sexy\fancy industry. “Come one! We are bankers. We manage risks. You put money on deposit, we issue credits. What’s to design here?” – the bankers were thinking. 

Until Steve Jobs said: “We made the buttons on the screen look so good you'll want to lick them.” And 2.2 billion iPhones [were sold](https://kommandotech.com/statistics/how-many-iphones-have-been-sold-worldwide/), because people loved the design. Apple is in the business of emotions, not gadgets. Apple makes people fall in love with iPhones and MacBooks from the first glance. Millennials expect banks (at least, neobanks) to deliver emotions.

<img src="https://trigger-blog.s3.eu-west-1.amazonaws.com/hackers_and_painters_paul_graham_02edd5b1ac.jpg" style="width: 240px; display: block; margin: 0 auto; object-fit: contain;"></img>
<p style="text-align: center;"><i>Read this book, if you want to get a better understanding, what is common between the IT and Art. <a href="https://www.amazon.com/Hackers-Painters-Big-Ideas-Computer/dp/1449389554" target="_blank">“Hackers and Painters”</a> by Paul Graham.</i></p>

To design the first 100 Apple store retail locations, Steve Jobs hired Art Gensler, the celebrated designer, who created the beautiful second-tallest building in the world – Shanghai Tower. Why don’t neobanks hire artists, painters or game designers to design the landing page and onboarding process?

Take a look at this rising star in Azerbaijan: [https://leobank.az](https://leobank.az). They have a cool lion on the main page, and they send funny stickers that millenials put on their laptops. 

<img src="https://trigger-blog.s3.eu-west-1.amazonaws.com/leobank_landing_89358e4ef5.jpg" style="width: 100%; display: block; margin: 0 auto 20px; object-fit: contain;"></img>

Now compare this to Wells Fargo boring landing page on [Google Play store](https://play.google.com/store/apps/details?id=com.wf.wellsfargomobile&hl=en&gl=US): 

<img src="https://trigger-blog.s3.eu-west-1.amazonaws.com/wellfargo_landing_5ceeeeb669.jpg" style="width: 100%; display: block; margin: 0 auto 20px; object-fit: contain;"></img>

You never get a second chance to make a first impression. And that is so true for digital banking apps. The first impression matters. It is the beginning of your onboarding funnel. The bank no longer has the right to be boring. It’s bad for conversion rates. 

Imagine in this economy of attention you’ve got this millenial’s eyeballs on your App store landing page. What’s next? UX.  

Without a good UX, your funnel will be leaky. 
<img src="https://trigger-blog.s3.eu-west-1.amazonaws.com/drushlag_b1ea951759.jpg" style="width: 100%; max-height: 360px; display: block; margin: 0 auto; object-fit: contain;"></img>
<p style="text-align: center;"><i>Make sure your onboarding funnel doesn’t look like this device.</i></p>

It’s not enough to attract attention. Beautiful UI will make people download the app and try to onboard. And so many things can go wrong. KYC, AML, Sanctions lists, documents upload, ID verification, dozens of fields required by evil lawyers (sorry, guys). 

<img src="https://trigger-blog.s3.eu-west-1.amazonaws.com/contract_with_devil_ddae7a39a0.jpg" style="width: 240px; display: block; margin: 0 auto 20px; object-fit: contain;"></img>
The job of neobank’s CEO is to protect potential customers from lawyers, when those customers try to onboard. 

The most fancy UI will fail without rocking UX. 

Of course, banking is a highly compliant industry. But there should be a healthy compromise between lawyers and growth hackers. And you should track the conversion on every single step of the onboarding funnel. Do you really desperately need all those fields?

Who is the true Master of retention rates? Game designers. They know how to onboard people from the first seconds you start to play.

<img src="https://trigger-blog.s3.eu-west-1.amazonaws.com/starcraft_gameplay_f04ae1d8d8.jpg" style="width: 100%; max-height: 360px; display: block; margin: 0 auto; object-fit: contain;"></img>
<p style="text-align: center;"><i>Starcraft. One of the most popular games ever by Blizzard. 
In the second quarter of 2022, Blizzard Entertainment gaming titles were accessed by <a href="https://www.statista.com/statistics/1234255/blizzard-quarterly-mau/" target="_blank">27 million monthly active users</a>.</i></p>

Computer game, that doesn’t become “sticky” from the first moments – fails miserably. Check [this list](https://en.wikipedia.org/wiki/List_of_most-played_video_games_by_player_count) of most-played video games of all times. Tencent, Blizzard, Roblox Corporation – they know how to onboard new users. Their retention funnel is not leaky. Every click counts. 

There is another magic word – “virality”. You can’t play Dota 2 alone. The great UI and UX of popular computer games makes people invite their friends to play together. 

<img src="https://trigger-blog.s3.eu-west-1.amazonaws.com/monobank_viral_t_shirts_3b0409da8d.jpg" style="width: 100%; max-height: 360px; display: block; margin: 0 auto; object-fit: contain;"></img>
<p style="text-align: center;"><i>Awesome UI and UX of <a href="https://monobank.ua" target="_blank">Monobank</a> makes it a viral app and cultural phenomena. Users love bank’s stickers, T-Shirts and other merchandise.</i></p>

<img src="https://trigger-blog.s3.eu-west-1.amazonaws.com/blogger_t_shirt_0efec909ad.jpg" style="width: 100%; max-height: 360px; display: block; margin: 0 auto; object-fit: contain;"></img>
<p style="text-align: center;"><i>Dota 2 player <a href="https://www.deviantart.com/sosregeit1/art/Dota2-t-shirt-Pudge-477342619" target="_blank">Sosregit1</a> designed the T-Shirt with the Pudge game character. </i></p>

The banks can (and must) compete in virality with computer games. But first, banks should stop losing people during the onboarding process.

Take a look at this case study. Shine bank is proud of 80% conversion onboarding. Or read this case study, how growth hackers increased onboarding conversion 200% (from 8% to 20%) for B2B software product. There are so many things to fix!

“Do you know the only thing that gives me pleasure? It’s to see my dividends coming in.” ― John D. Rockefeller once said. 

“I love these conversion rates on my Firebase dashboards”, – John D. Rockefeller would have said in 2022.

**Bad UI, Bad UX:** You're doomed to fail. <br>
**Good UI, Bad UX:** You'll attract customers, but the leaky funnels will lead to low retention rates.<br>
**Bad UI, Good UX:** This happens sometimes. People will use your app only if they have no other choice.<br>
**Good UI, Good UX:** You have a good chance to become a unicorn.

Welcome to share your thoughts in the comments section. 

Which fintech apps design do you like? What could be an example of the easiest onboarding ever? Do you know banking apps with awful UI, but a cool set of features, that just work?


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You never get a second chance to make a first impression. And that's so true for digital banking apps.

The Beauty Of Neobanks: Why UI Sells And UX Pays In Banking Apps (Original version)

October 19, 2022, Amsterdam. De Hallen Studios is hosting a meeting of 250 people from banking and fintech companies on Mambu Next 2022. Among the guests is Max Bondar, CEO & Founder of Trigger Software. 

Previously, the event was held online, but they made an exception this year. Mambu Next 2022 is an opportunity to meet leaders of fintech innovations and share the experience.

The program includes a performance of 19 speakers, including the General Director and co-founder Eugene Danilkis. In addition, there will be discussion panels with CEOs and C-level managers of leading banking and fintech companies. They’re gonna take apart the cases they used to conquer the market.

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October 19, 2022, Amsterdam. De Hallen Studios is hosting a meeting of 250 people from banking and fintech companies on Mambu Next 2022. Among the guests is Max Bondar, CEO & Founder of Trigger Software. 

Trigger Software participates in Mambu Next 2022

_Forbes Technology Council Is an Invitation-Only Community for World-Class CIOs, CTOs, and Technology Executives._

October 2022, Trigger Software is a Ukrainian IT company established in 2021, developing and integrating highly loaded innovative solutions for fintech and retail companies has been accepted into Forbes Technology Council, an invitation-only community for world-class CIOs, CTOs, and technology executives.

**Max Bondar, CEO & Founder Trigger Software**, was vetted and selected by a review committee based on the depth and diversity of his experience. Criteria for acceptance include a track record of successfully impacting business growth metrics, as well as personal and professional achievements and honors. 

“_We are honored to welcome Trigger Software into the community,_” - said **Scott Gerber, founder of Forbes Councils, the collective that includes Forbes Technology Council**. “_Our mission with Forbes Councils is to bring together proven leaders from every industry, creating a curated, social capital-driven network that helps every member grow professionally and make an even greater impact on the business world._”

As an accepted member of the Council, Max Bondar, CEO & Founder Trigger Software, has access to a variety of exclusive opportunities designed to help him reach peak professional influence. He will connect and collaborate with other respected local leaders in a private forum. Max Bondar will also be invited to work with a professional editorial team to share his expert insights in original business articles on Forbes.com, and to contribute to published Q&A panels alongside other experts. 

Finally, Trigger Software will benefit from exclusive access to vetted business service partners, membership-branded marketing collateral, and the high-touch support of the Forbes Councils member concierge team. 

> “We have been properly selected to join the Forbes Technology Council. This is a great contribution to the development of Trigger Software and a good opportunity to share our knowledge and experience with the Forbes audience."
</br></br>_Max Bondar, CEO & Founder Trigger Software_

#### ABOUT FORBES COUNCILS
Forbes Councils is a collective of invitation-only communities created in partnership with Forbes and the expert community builders who founded Young Entrepreneur Council (YEC). In Forbes Councils, exceptional business owners and leaders come together with the people and resources that can help them thrive.

For more information about Forbes Technology Council, visit [forbestechcouncil.com](https://forbestechcouncil.com/). To learn more about Forbes Councils, visit [forbescouncils.com](http://forbescouncils.com/).

#### ABOUT TRIGGER SOFTWARE
Trigger Software is a Ukrainian IT company established in 2021, developing and integrating highly loaded innovative solutions for fintech and retail companies. During the year of its existence, Trigger Software released fintech, retail and blockchain solutions and became a partner of brands such as IdeaBank, Comfy, VARUS, ANC etc. Trigger Software also an active member of the professional community and is the finalist of Gulf Fintech Developer of the Year.

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Forbes Technology Council Is an Invitation-Only Community for World-Class CIOs, CTOs, and Technology Executives. 

Trigger Software accepted into Forbes Technology Council

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<div style="margin: -12px  auto 16px;">Discussion panel at the GITEX Global 2022 exhibition</div>

The GITEX Global exhibition has long been at the forefront of the largest event in the field of information technologies. The event gathers the world's technological giants and innovators. The GITEX Global 2022 is the forty-second exhibition in a row. It was held from 10th to 14th of October in Dubai. About 5 000 companies and 100 000 visitors from 170 countries gathered under one roof, including Trigger Software.

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<div style="margin: 0px  auto 16px;">Trigger Software at the world's largest technology event</div>

Guests were invited to 7 exhibitions and 14 conferences with more than 500 hours of presentations, case studies and seminars from experts with a high-profile name in the IT field. Representatives of Microsoft, Huawei, IBM, Dell Technologies, Ericsson, Avaya, Honeywell, Hewlett Packard Enterprise, e&, Lenovo and other world-class companies participated in GITEX Global.

> GITEX GLOBAL will cut through the hype and emotions, gathering the best minds in all businesses around the world to debate, challenge and rationalise the impact of this tech fusion on society and our future»
<br><br>_Trixie LohMirmand, one of the GITEX GLOBAL organizers_

The main topics of the exhibition were cryptography, 6G, metauniverse and future technologies. The guests were amazed not only by reports. For example, the exhibition participants witnessed the first public flight of the XPeng air taxi. The flying electric car XPeng is capable of speeds up to 130 km/h and stays in the sky without recharging for up to 35 minutes. On the GITEX Global 2022, it climbed to an altitude of 91 meters and took off on autopilot under operator control.

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<div style="margin: -12px  auto 16px;">XPeng demonstration flight at GITEX Global 2022</div>

The GITEX Global is an event that not only expands business opportunities, but also introduces the most influential people from the world of information technologies. Trigger Software also took advantage of this opportunity. Max Bondar, CEO & Founder of the company, met and discussed possible cooperation with representatives of the second largest bank in the UAE - Emirates NBD Bank PJSC. Its network includes more than 220 branches throughout the country and abroad.

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<div style="margin: -12px  auto 20px;">Max Bondar, CEO & Founder Trigger Software and representatives of Emirates NBD Bank PJSC</div>

> The world does not stand still, it evolves every minute. For Trigger Software, it is important not just to follow the success of colleagues, but also to become a part of this progress. The Trigger Software is glad to be a part of the community of the powerful GITEX Global event
<br><br>_Max Bondar, CEO & Founder of Trigger Software_

This year the two new directions were launched at the exhibition - Global DevSlam and X-VERSE. The first is a large-scale meeting of coders and developers from world-class technology companies such as Anaconda, AWS, Google, Instagram, Microsoft, Oracle та RedHat. X-VERSE is an event for the presentation of startups, it gathered together more than 800 exhibitors from 60 countries. We are already wondering what there will be at the GITEX Global in 2023.

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<div style="margin: -12px  auto 16px;">Exhibition at the GITEX Global 2022</div>

The 42nd exhibition became the largest event in its entire history in terms of the number of participants and the largest technological event in the world in terms of a scale. This year's show spans 2 million sq.ft. or 33 football fields. The GITEX Global ended with the signing of cooperation and partnership agreements between the world's largest companies. Trigger Software is pleased to be a part of this historic event.

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The event gathers the world's technological giants and innovators. About 5 000 companies and 100 000 visitors from 170 countries gathered under one roof, including Trigger Software.

Trigger Software at GITEX Global 2022

**The fledgling company Trigger Software has become one of the best fintech developers and was shortlisted in the "Gulf Capital FinTech Developer of the Year" category of the SME Awards 2022, which recognizes the best small and medium enterprises in the world.**

The SME Awards 2022 is hosted by MEED, an organization that tracks and supports the development of small and medium enterprises in the Middle East and around the world. The nominees of the category "Gulf Capital FinTech Developer of the Year" were evaluated by the jury according to the stage of business readiness, development strategy, as well as level of the corporate culture. Special attention was paid to the innovativeness of the products that the business is working on.

More than 400 companies took part in the nomination, but only 3 nominees in each category made it to the final of the award. The awarding ceremony will take place on November 9, 2022, in Dubai.

> Our unique corporate culture, unconventional approach to project development and innovative product Trigger Neobank Engine were highly evaluated by the jury team and helped us to get to the final of the "Gulf Capital FinTech Developer of the Year" nomination out of 400 other companies.
<br><br>_Max Bondar, CEO of Trigger Software_

The world banking industry is currently facing global digitalization, which brings new challenges to traditional banks. On the one hand, banks need to keep up with digital trends such as daily banking, metaverse and blockchain, and on the other hand, the complexity of legacy systems and the corporate culture of the majority of banks do not allow them to advance at the desired pace. Given this, Trigger Software's unique expertise and products have great potential for the development of the global fintech ecosystem.


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The fledgling company Trigger Software has become one of the best fintech developers and was shortlisted in the "Gulf Capital FinTech Developer of the Year" category of the SME Awards 2022.

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