SPONSORED CONTENT PRESENTED BY JACK HENRY™
When it comes to new deposit account opening, there’s no one-size-fits-all approach.
What is universal, however, is that everyone expects a seamless experience.
Applicants demand speed, simplicity, and flexibility, and they want to be able to complete their application on any device without friction. If the process is too cumbersome, they’ll abandon it and look elsewhere.
To stay competitive and grow deposits, your account opening platform must deliver an intuitive, secure, and efficient process.
To ensure your financial institution meets today’s needs – and is well equipped to effortlessly scale to meet your future needs – here are 10 key features and functionalities your account opening solution should provide:
- Clear Expectations and a Guided Process
Transparency matters. Applicants should be informed up front about the information they are required to provide and the estimated time it will take to complete the process. A guided application experience, with clear instructions at each step, helps reduce drop-offs and build confidence.
- Omnichannel and “Save-and-Resume” Functionality
Consumers and businesses expect flexibility. A modern platform should allow applicants to begin their application on one device and finish on another, if needed. A seamless, omnichannel experience across mobile, desktop, and in-branch channels ensures convenience and continuity.
- Smart Autofill and Application Assistance
Reduce friction and errors by integrating autofill features that pull information from existing records or government-issued IDs. Real-time validation of entries and automated error detection further enhance the user experience, while personalized reminders encourage applicants to complete unfinished applications.
- Robust Identity Verification and Fraud Prevention
Security must be a top priority. A strong account opening platform should integrate multi-layered fraud detection, leveraging data-driven risk assessments and third-party identity verification tools. This ensures compliance while protecting both your financial institution and the applicant.
- Employee-Assisted Account Origination
Your account opening platform should empower branch and contact center employees to review, complete, or start brand-new applications, supporting the applicant’s needs in real time. Whether in-person, through chat, or over the phone, an integrated employee channel ensures a seamless transition between digital self-service and human assistance.
- Seamless Digital Funding and Direct Deposit Setup
Account funding should be instant and effortless. A best-in-class platform offers digital integrations for real-time funding, along with streamlined direct deposit setup to help new customers get started immediately.
- Document Uploads and eSignature Capabilities
Eliminate paper-based hurdles by allowing applicants to upload necessary documents – such as IDs and proof of address – directly within the platform. Integrated eSignature functionality further simplifies the process, reducing delays and increasing completion rates.
- Business Account Opening Support
For banks catering to businesses, the account opening platform must accommodate beneficial ownership verification and customizable form fields to support various business types and compliance requirements.
- Frictionless Integration with Digital Banking
A disconnected post-account opening experience can lead to frustration and attrition. Ensuring seamless integration with digital banking platforms provides a consistent user experience and encourages long-term engagement from day one.
- Cross-Channel Marketing and Adoption Tools
Once you’ve chosen your best-in-class solution to provide your applicants with an incredible experience, you need a plan to market your new solution. It’s one thing to have the right tools in place; it’s another to make sure people are using them! It’s essential to provide a library of time-saving tools and resources – like free account-opening marketing materials ready to go out via email, social media, and ads – to increase customer adoption.
Future-Proof Your Bank’s Account Opening Process
Selecting the right digital account opening platform isn’t just about meeting today’s needs – it’s about ensuring scalability, security, and a frictionless experience for years to come.
If your current solution falls short in any of these areas, it may be time to explore a more advanced, future-ready platform.
Want to learn more about upgrading your account opening experience? Start the conversation with Jack Henry today!
