Tampa, FL (October 16, 2019) With over $351 million in assets, Railroad and Industrial Federal Credit Union selected Digital Onboarding, Inc., a SaaS technology company that provides a fully automated new account activation platform, to drive member engagement and modernize its onboarding strategy.
“We have been relying on direct mail and phone calls to engage and retain new members that we attract via Select Employee Group events and we want to try a more modern approach,” said Anna Lampinen, Vice President of Operations, Railroad and Industrial Federal Credit Union. “With the Digital Onboarding platform, new members will receive email reminders that link to a personalized, step-by-step digital guide that helps them take advantage of all of the services that the credit union offers.”
The Digital Banking Report from the Financial Brand showed that new account holder attrition rates range from 25% to 40% due to suboptimal onboarding processes. Institutions that don’t engage account holders in the first 90 days probably won’t succeed in building true relationships in the long term.
“Direct mail and phone calls are expensive and no longer effective at motivating members to adopt additional products and account-related services,” said Ted Brown, CEO, Digital Onboarding, Inc. “The Digital Onboarding platform will help to maximize new member satisfaction and we are thrilled to be working with Railroad & Industrial Federal Credit Union on this important strategic initiative.”
About Railroad and Industrial Federal Credit Union
For nearly 85 years, Railroad & Industrial Federal Credit Union has been a dedicated financial cooperative with a commitment to provide excellent service and value. We are simply people helping people, with the intention to improve the financial lives of our members. Our goal is to provide all the services you would expect from a nationwide bank – using our not-for-profit fee structure, and the personalized service only a credit union can provide. For additional information, visit rifcu.org. For Railroad and Industrial Federal Credit Union media inquiries, contact Jessica Stevenson at (813) 621-6661 X230 or firstname.lastname@example.org.
About Digital Onboarding Inc.
Digital Onboarding Inc. is a SaaS technology company focused on helping banking customers and credit union members 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 Digital Onboarding media inquiries, contact Laurie McLachlan at email@example.com or (617) 921-2916.