Sandy, UT (December 6, 2021) – Connect Financial Software Solutions (Connect), a CUSO providing advanced enterprise digital banking services to credit unions, announced that it has entered into a partnership agreement with Digital Onboarding, Inc., a Software-as-a-Service (SaaS) company that helps credit union members adopt account-related services and additional products.
With Connect’s Emerge platform, credit unions can provide a complete digital banking experience where digital banking users can enroll 24x7, create new accounts, apply for loans, pay bills, transfer funds, send money, make deposits and control cards.
The Digital Onboarding engagement platform makes it easy for members to adopt the digital banking services offered by Connect. The platform’s digital, self-service tools simplify onboarding tasks like switching direct deposit in real-time, updating default payment methods at places like Amazon® and Venmo®, enrolling in eStatements, and more.
“Working with Connect and Digital Onboarding gives our members a simple and easy way to open an account, and it empowers them to take control of their finances,” said Steve O’Donnell, Executive Vice President and CFO, One Nevada Credit Union. “Our relationship with Connect and Digital Onboarding also gives our existing members an exciting new way to access the different products and services we offer digitally 24/7.”
The Digital Banking Report found that industry wide first-year attrition rates for new members are upwards of 40 percent, owing in large part to inadequate and antiquated onboarding processes. Each lost customer or member results in a loss of at least $400. Financial institutions must empower new account openers with easy access to enroll into account-related services in the first 60 days to solidify those relationships.
“In partnership with Digital Onboarding, we can further enhance the overall value of the Emerge platform by eliminating friction and making it simple for members to open accounts and maximize the use of services that are available to them,” said Grant Parry, CEO, Connect Financial Software Solutions. “Both companies are committed to helping credit unions succeed by delivering world-class digital experiences that captivate members. We are thrilled to partner with a team that shares our mission.”
“Credit unions will not win the war simply by offering frictionless account opening and digital banking experiences,” said Ted Brown, Co-founder and CEO, Digital Onboarding, Inc. “Institutions that invest in making it incredibly simple for new account openers to start using their new accounts will win the battle for engaged relationships. We are proud to join forces with Connect to help credit unions better compete and thrive.”
About Connect Financial Software Solutions
Connect is a technology Credit Union Service Organization (CUSO) focused on the benefit of credit unions and their members. Connect's customizable enterprise digital banking solutions support credit unions' unique individual needs by offering online and mobile banking, bill pay, programming services, and digital account opening and lending applications. Connect has complete user interface design flexibility and provides parity across all digital channels, creating a better user experience. By partnering with more than 150 third-party providers, many of which are selected by clients, Connect offers a wealth of evolving functionality to better meet members' current and future needs. Connect with them at https://www.connectfss.com/ to learn more.
About One Nevada Credit Union
With over $1 billion in assets, One Nevada Credit Union is one of the largest locally owned, federally insured credit unions in the state. It is also one of the strongest, well-capitalized financial institutions in the country. One Nevada specializes in serving Nevadan’s personal financial needs. One Nevada serves 78,000 members, has 15 branches, and offers 46,000 surcharge-free ATMs through the Allpoint Network. Membership is open to all residents of Washoe, Clark, and Nye counties. One Nevada is federally insured by the National Credit Union Administration, a U.S. Government Agency. For more information, visit https://www.onenevada.org.
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 and member activation rates. For additional information, visit https://www.digitalonboarding.com/. For Digital Onboarding media inquiries, contact Laurie McLachlan at email@example.com or (617) 921-2916.