Bluepoint Solutions partners with Gro Solutions Inc. for mobile account opening
Innovative technology streamlines account creation, increasing account acquisitions and lowering costs for banks and credit unions
NORCROSS, GA (October 27, 2015) — Bluepoint Solutions and Gro Solutions, Inc. today announced a new partnership to provide mobile and digital channel account opening software to banks and credit unions nationwide. This unique, advanced account opening service from Gro, which Bluepoint will offer as OpenAnyware, makes it fast and easy for prospective bank customers and credit union members to open new accounts, anytime and anywhere.
OpenAnyware removes the barriers to opening and funding an account, dramatically reducing the start-to-finish time. It imports data directly from government-issued identification, mobile phone carriers, and mobile device GPS data to significantly reduce manual input requirements. The system also satisfies KYC/AML requirements and credit checks. Since it facilitates account funding with integrated credit and debit card imaging, account holders can start using their new accounts immediately, with no lag time for confirmations or fund transfers.
“What prevents consumers from completing the mobile account opening process is friction— maybe they don’t have all the information with them, or the process takes too long or asks for too much input—so they simply give up,” said Paul Mackowick, Chief Revenue Officer at Gro. “Our solution yields a high percentage of completions by eliminating these sources of friction, and we are very excited to have industry-leader Bluepoint Solutions as our technology partner.”
Applicants abandon up to 80% of all mobile account opening processes—more than double the 35% abandonment typical of online applications (Banking on the Mobile First Generation, Gro Solutions). OpenAnyware slices the mobile rate nearly in half, a result that gains significance considering that mobile account opening rates have surged from about 25% to 39% of all digital openings since 2013. And although the solution is targeted to the fast-growing mobile population, it is versatile and robust enough to support all modes of account opening, such as online, in-branch, and in the field by employees.
“Mobile-forward consumers, including Millennials, are the future account holders for all financial institutions. Banks and credit unions must create easy-to-use, virtual ‘front doors’ to attract and keep this business,” said Hal Tilbury, CEO of Bluepoint Solutions. “Bluepoint is pleased to add this innovative, proven solution for mobile and omni-channel digital account opening in partnership with Gro Solutions Inc.”
About Bluepoint Solutions
Bluepoint Solutions provides end-to-end payment processing and content management solutions to community financial institutions. More than 1,400 credit unions and community banks nationwide have deployed its enterprise technology, including the largest corporate credit unions and credit union service organizations in the country. Learn more at http://www.bluepointsolutions.com.
About Gro Solutions Inc.
Founded in 2015, Gro Solutions provides digital growth solutions for banks and credit unions. Through a fresh direction and a technology strategy that embraces mobile capabilities instead of begrudgingly accommodating them, Gro Account Opening helps financial institutions present a mobile front door that meets and exceeds the mobile expectations of the new customer. Gro Solutions is a subsidiary of Mobile Strategy Partners (MSP), which provides strategic and technical advisory services to the financial industry. For more information, visit www.grobanking.com, or follow the company on Twitter @GroBanking.
