StrategyCorps partners with Digital Onboarding, Inc. to help banks and credit unions grow profitable checking account relationships
BRENTWOOD, TN (February 18, 2020) — StrategyCorps, a company that provides nearly 350 banks and credit unions with profitability analysis, white-labled reward products, and mobile banking solutions, has partnered with Digital Onboarding, Inc., a SaaS business that offers a fully automated customer engagement platform, to help financial institutions maximize the profitability of checking account relationships.
It can cost a financial institution hundreds of dollars to acquire a new checking customer and The Digital Banking Report from the Financial Brand showed that first-year attrition rates for new are as high as 40% due to suboptimal onboarding processes. When customers actively use account-related services like debit cards, automatic bill payments, and direct deposit, they are less likely to leave and far more profitable than customers that do not engage.
“The banking industry is rapidly evolving to meet the needs of digitally savvy consumers who aren’t interested in receiving phone calls and a pile of direct mail after opening a new account,” said Bryan Clagett, StrategyCorps Director of Strategic Initiatives. “Our partnership with Digital Onboarding, Inc. will help our bank and credit union clients grow profitability by ensuring that new account holders engage quickly and stay with their financial institution for years to come.”
The Digital Onboarding platform enables banks and credit unions to send automated email and SMS reminders that link to personalized, step-by-step, digital guides. The platform helps people adopt additional products and account-related services like online and mobile banking, direct deposit, and automatic payments. From an execution standpoint, deployment is simple, speedy, and cost effective. Customers can go live on the platform within weeks and core integration is not required.
“The Digital Onboarding platform offers a more modern and effective way for banks and credit unions to build long-lasting relationships with customers and members,” said Ted Brown, CEO of Digital Onboarding, Inc. “Strategy Corps helps financial institutions offer checking accounts with compelling and unique features and, through our partnership, we are excited to help new account holders take full advantage of all of their account benefits.”
About StrategyCorps
StrategyCorps helps financial institutions grow retail checking relationships and financial productivity through its proprietary analytical tool, CheckingScore, and a customizable mobile rewards app, BaZing, which powers checking products with modern, in-demand consumer benefits like cell phone insurance, local merchant discounts, and roadside assistance to enhance the customer/member connection and provide competitive differentiation. More than 350 banks and credit unions employ StrategyCorps’ analysis tools, white-labeled reward products, and mobile solutions that generate recurring, consumer-friendly revenue of about $500,000 annually per $1 billion of assets. More information is available at www.strategycorps.com.
About Digital Onboarding Inc.
Digital Onboarding Inc. is a SaaS technology company focused on helping banking and credit union customers activate their financial services products. Digital Onboarding provides a fully automated new account activation platform that is more efficient and effective than traditional phone calls, emails, direct mail and print brochures, driving profit by increasing new customer activation rates. For additional information, visit digitalonboarding.com. For Digital Onboarding media inquiries, contact Laurie McLachlan at laurie@digitalonboarding.com or (617) 921-2916.
