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Mobile Strategy Partners reports 200 percent revenue increase in 2014
Company anticipates continued market adoption of its MSP Account Opening solution as financial institutions implement digital onboarding strategies
ATLANTA, GA (January 20, 2015) — Mobile Strategy Partners LLC (MSP), a leading provider of strategic and technical advisory services and technology solutions to the financial services industry, experienced tremendous growth in 2014, increasing its year-end revenues by more than 200 percent. MSP expects this level of growth to continue in 2015 with strong market adoption of its latest MSP Account Opening solution, as more financial institutions are realizing the importance of developing an effective digital onboarding strategy.
Launched in November 2014, MSP Account Opening is the first and only account opening solution in the marketplace to offer both mobile web and native app versions, providing financial institutions with the ability to open and fund new customer accounts – whether online, through the branch or at an event – in less than four minutes. The solution is already being utilized at a number of financial institutions.
MSP Account Opening is unique within the market as it is designed specifically for mobile use and as a result, requires less data entry than other solutions – reducing the typical abandonment rates associated with using the mobile channel. MSP Account Opening achieves this through its ability to quickly and easily capture data from a consumer’s driver’s license, credit or debit card, GPS location and other sources to streamline and automate the data entry process, as well as fund new accounts.
Additionally, MSP recently integrated The Fusion Network’s ClickSWITCHTM with MSP Account Opening to simplify the transition of a customer’s automated payments to the new account. Data gathered during account opening is sent to ClickSWITCH, enabling new customers to simply click on the billers they want to switch and the rest is done automatically. Financial institution end-users and employees receive the most comprehensive and concise onboarding workflow available through all digital channels.
“Mobile-first prospects are gaining more importance within sales funnels, jumping from 30 percent in 2013 to more than 40 percent in 2014, so financial institutions must develop an effective digital onboarding strategy to capitalize on these prospects and remain competitive,” said David Eads, founder and CEO of MSP. “Moving into 2015, MSP remains committed to leveraging the expertise we’ve gained from our consulting work to provide a mix of new technology solutions and business services that directly address the needs of today’s financial institutions, especially when it comes to customer acquisition.”
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About Mobile Strategy Partners LLC
Mobile Strategy Partners LLC (MSP) is a leading provider of strategic and technical advisory services and solutions to the financial industry. Founded in 2009, MSP’s principles have decades of experience defining and launching digital financial solutions, servicing name brand clients and millions of people around the world. MSP helps organizations compete by getting their strategy “from PowerPoint to production.” The company’s flagship MSP Account Opening solution enables financial institutions to onboard the digital native easier and in less time. For more information, visit www.mobilestrategypartners.com.