OvationCXM New Research: Business Banking Customers Face Onboarding Hurdles

New Report Reveals Just 3 Out Of 10 Banking Customers Describe Onboarding As “Seamless”

OvationCXM, a global leader in customer experience management (CXM), announces the findings of the 2025 Business Banking Customer Experience Report, an in-depth look at the experiences and expectations of business banking customers across the U.S.

Business banking customers are clearly voicing their frustrations, and this comprehensive study of over 800 business owners underscores the severity. A staggering 41% report significant pain from interacting with multiple people and organizations to resolve a single issue, while another 45% are plagued by long wait times and delayed responses. The report pinpoints a primary driver of this dissatisfaction: fragmented customer journey stemming from siloed technology and disjointed functional teams. Addressing this underlying issue presents significant opportunities to drive more revenue, enhance customer satisfaction, reduce churn, and improve crucial onboarding and activation journeys.

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More Survey Highlights:

• Just 31% of businesses said onboarding was seamless.
• 25% abandoned onboarding and never used the banking product they signed up for.
• 56% have to interact with 2–3 teams to resolve a single issue.
• 91% are asked to repeat information to different people in the bank constantly.
• 41% of businesses expect their bank or credit union to resolve issues within 24 hours; 82% will move on if their problem isn’t resolved in three days.
• 38% want proactive product recommendations, but only 44% feel their financial provider strongly understands their needs.
• 60% of businesses are comfortable using AI chat and voice bots for banking, but a significant minority remain reluctant.

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“Our 2025 Business Banking CX Report confirms what banking clients tell us — decade-old legacy systems and data silos make it nearly impossible to provide seamless experiences to customers,” said Alfred Kahn IV, CEO and founder of OvationCXM. “They’re telling us loud and clear that the fragmented experiences caused by internal and external partner silos are no longer acceptable. As the report shows, personalization isn’t a luxury; it’s an expectation. Operational chaos must be resolved through the strategic implementation of journey orchestration. This report isn’t just data; it’s a mandate for banks to break down walls and truly deliver on the promise of a customer-centric experience.”

Journey Orchestration as a Competitive Advantage

The research underscores the critical need to thread valuable customer interaction data points across the bank’s ecosystem (internal systems, departments, and third-party partners) into one enterprise view using journey orchestration technology. Institutions can then act on the insights using AI-led journey-building tools to reduce customer frustration and delays. The business outcomes are reduced attrition, increased revenue, stronger customer loyalty and improved insights into how best to meet customer needs.

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Source – GlobeNewswire

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