Kasasa® continues to experience ongoing success with consumer-centric INMO platform
Digital account opening platform with A/B testing helps community banks and credit unions compete and win
AUSTIN, TX (August 20, 2018) — Kasasa®, an award-winning financial technology and marketing provider, has seen tremendous, ongoing success with its online account opening and funding system, INMO, which connects to any financial institution’s website to create a robust digital account opening pipeline. Kasasa launched INMO over 10 years ago, breaking industry trends by leading with user centric design and focusing on their institutional partners’ goal of driving more funded accounts.
Guaranty Bank, a Missouri-based community bank with nearly $1 billion in assets, launched INMO in 2011. Since offering it, they have seen a large increase in online openings, and the bank has nearly doubled in asset size.
“The needs of our bank seem to change just as often as our customers, and we searched for a product that would help deliver substantial value and provide even better service to our communities,” said Carlye Wannenmacher, director of marketing at Guaranty Bank. “With INMO, we can now provide customers full access and usability by offering a fully-comprehensive digital account opening process. By employing this fresh, innovative product, we can continue to drive new account growth, increase consumer engagement and provide relevant products that customers desire all with ease and flexibility.”
With 2017 data from Kofax stating that more than 46 percent of consumers use only digital channels for their banking – especially when it comes to the new account opening process – it is essential for community financial institutions to make it easy for consumers to do so. Today’s consumers expect a great digital experience, and with Kasasa’s online account opening solution, community banks and credit unions can capture a much larger market and give consumers what they’re looking for. INMO features a straightforward user-experience through a simple three-step process that has been tested to ensure the best user experience, and it’s fully compliant with all banking regulations for online account opening.
INMO’s intuitive interface guides future account holders through the account opening process, and increases accessibility by being entirely digital and optimized for all devices. The application process, identity verification and funding of the new account all happen online or on a mobile device without ever requiring a consumer to visit the branch. Applicants can fund their new accounts using a checking account, savings account or debit card. INMO’s mobile optimization process is another area where INMO leads the market. In 2018 mobile traffic has outpaced desktop traffic for the first time in history, yet only 20 percent of sub-$10B institutions support mobile account opening; making INMO more valuable than ever.
In addition to creating a user-friendly process for consumers, INMO also organizes a seamless experience for institutions and their employees. Through a simple export process, new account data is quickly loaded into the institution’s core, and the platform allows for customization, providing a way for banks and credit unions to limit new accounts to their community by restricting applications based on a consumer’s ZIP code. Additionally, INMO stores and tracks all leads, enabling representatives to follow up on all applicants at a later date. The platform also runs constant A/B testing to uncover the best method to funnel more completed forms through the online account opening process. With the implementation of INMO, Kasasa provides ongoing compliance support, and training resources are included to ensure institutions get the most out of the tool.
Based in Southeast Wisconsin with over 20,000 members, Fort Community Credit Union, launched INMO in 2015. As a result, they have also seen a tremendous increase in online account openings and applications.
“In 2015 we chose INMO to help us with a complete web redesign, and we couldn’t be happier. Many industries outside of ours are already being held to new accessibility requirements, and now with INMO, we are able to compete and offer the same convenience to our members,” said Marissa Weidenfeller, director of marketing at Fort Community Credit Union. “Compared to other credit unions with the same asset size, we are blowing them out of the water with how many account openings and online applications we have. I think that’s a direct reflection of utilizing such a fantastic product, and our team members’ dedication to our members.”
Robyn Newcomb, vice president of strategic initiatives at Fort Community Credit Union, opened an account online through INMO and echoes the sentiment of the product’s intuitive design. “FCCU’s Online Account Opening feature is easy and convenient! As a busy, working mom I need access to tools that help me manage my money on my time. I was able to apply for an account online within a few minutes and a service representative reached out to me the next day to finalize the details. I was impressed with the overall speed, level of service and personal care.”
“A common issue community banks and credit unions face when it comes to offering the conveniences that consumers crave is that expectations are now being set by digital giants like Apple and Amazon,” said Gabe Krajicek, CEO of Kasasa. “With INMO, community financial institutions can provide a fully-responsive digital account opening option, giving millennials and other tech-savvy customers the ability to open an account through the channel that is most convenient for them. Best of all, the platform is optimized to funnel applicants through the process to return more completed applications, making it easy for a financial institution’s customer service rep to take that application and quickly turn it into another funded account.”
Based in Austin, Texas, Kasasa® is a financial technology and marketing provider committed to driving results for over 900 community financial institutions by attracting, engaging, and retaining consumers. Kasasa does this through branded retail products, including reward accounts, referral programs, and the only loan with Take-Backs™, world class marketing, and expert consulting services. For more information, please visit www.kasasa.com, or visit them on Twitter or LinkedIn.