Barclays in-app account opening solution launches coupled with new fraud and scam warnings.
Digital interactions continue to increase globally. With this in mind, the financial industry is improving its speed and security across all channels.
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Now, customers can use the Barclays in-app account opening function to open an account at their own convenience. In just a few taps, the new feature enhances the customer on-boarding journey.
Today, having to wait for a branch appointment is extremely inconvenient. Many consumers don’t work traditional working hours and so have limited time to make those appointments.
Opening an account whenever and wherever they want gives consumers a stress-free process.
Barclays believes that having an additional current account can often be helpful as a budgeting tool. Managing money and finding ways to save is important for consumers today.
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By GlobalDataThe Barclays app has a range of different budgeting tools that helps customers stay in control of their spending.
In January, Barclays launched its Spending Feature. Customers can view the tool and categorise their spending into sections. Therefore, customers can see how much they’ve spent and where throughout the month.
Customers will also see their transactions set out into 12 main categories and over 70 sub-categories.
Furthermore, Barclays app customers can also use the Instant Switch feature to move a current account from another bank through the Current Account Switch Service.
Barclays in-app account opening: fraud enhanced
The Barclays app also made changes to the new payee journey to better protect the user from scams.
Furthermore, when a customer clicks to pay someone new in their app, they will now see two new screens designed to warn them of common tactics used by scammers.
Before continuing with the transaction, the user will have to select the purpose of the payment from a list of nine categories.
Another warning will pop up, prompting the customer to think more about the payment they are making. After they pass the warning, they will confirm the payment as normal.
Fraudulent attacks are becoming more sophisticated. Often the scammer can seem almost digitally identical to a customers’ financial provider. Therefore, these new fraud features will act as a positive friction point in the overall payment journey.
