May 25, 2021 - Boston, MA — STCU is implementing the Digital Onboarding engagement platform to satisfy its members’ desire for digital communications and support. The platform will give STCU members access to digital tools that make it easier to adopt the digital banking services that drive cost savings and longevity. By leveraging the Digital Onboarding API, STCU can automatically deliver emails, text messages, and personalized microsites that guide members through the new account activation process.
“STCU made the strategic decision to more intentionally embrace digital channels for the benefit of our members and the long-term health of the credit union,” said Jeremy R. Long, Director of Digital Channel Experience, STCU. “We understand that members increasingly want to interact with the credit union via their laptop and mobile devices. The Digital Onboarding engagement platform is a good fit for our digital-first strategy, and it will help STCU deliver on its goal of engaging with members in the ways that they prefer.”
Previously, STCU relied on a mix of personal outreach, mail, and email communications to welcome and onboard new members. However, the credit union wanted a more effective way to help members adopt account-related services and additional products.
Research from the 2021 Digital Banking Report showed that 25 to 40 percent of new checking accounts are closed within the first year. Driving early engagement is the key to building long-lasting relationships. Today’s members demand personalized, digital communications and tools that eliminate the friction that’s often associated with new member onboarding processes.
“It is a different ball game than it was a decade ago, and forward-thinking credit unions recognize the vital importance of digital channels,” said Ted Brown, CEO, Digital Onboarding Inc. “We are thrilled to partner with an innovative institution like STCU, and I look forward to helping the credit union continue to transform the way it connects with its members.”
STCU is a not-for-profit financial cooperative with more than $4.3 billion in total assets. Founded in 1934 by a small group of educators, STCU has grown to more than 226,000 members with 28 branch locations. It is one of the largest Northwest credit unions, and among the top 100 nationwide. For more information, visit https://stcu.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 firstname.lastname@example.org or (617) 921-2916.