Currently viewing as Credit Union. Not You?
arrow

Deposit Account Opening

Consumers want to connect with their financial institutions as easily as they check the weather or get directions to a restaurant. Our Deposit Account Opening Module is a DecisionLender 4 add-on that simplifies and streamlines the account opening experience for both branch employees and online/mobile consumers. This module enables consumers to “save” their progress, ensuring applications can be initiated, stopped, saved and restarted from any location and any device, either in the branch or online. The Deposit Account Opening Module allows consumers the convenience of 24/7 account-opening capabilities through a custom-designed workflow that you control; and by leveraging the cross-sell module, you can offer appropriate new loan products whenever someone opens a new account.

How it works: Online/Mobile

  • The program opens to present a menu of choices based on your specified products, including:
    • checking accounts
    • certificates of deposit
    • holiday savings
    • money markets
    • retirement accounts
    • savings accounts

 

 

  • Ease-of-use continues with the single sign-on, removing the need for consumers to rekey personal information as the application is automatically populated with consumer information stored in your core system.
  • Once the initial form is completed, the Account Opening Module does the following:
    • verifies the user’s identity
    • ask the user to name account beneficiaries (when required)
    • presents disclosures or authorization documents for the user to approve or reject
    • runs through the approval process
  • Approval responses are sent back to the user immediately.
  • Required stipulations can be sent through the user’s mobile device camera or they can upload images, PDFs and other documents from a tablet, desktop or laptop.
  • eSignatures are collected in a protected e-signing room, then filed directly into your core system.

How it works: Branch

  • Branch employees can use their desktop, laptop or tablet to open a new account for consumers, choosing from a menu of accounts based on your specified products, including:
    • checking accounts
    • certificates of deposit
    • holiday savings
    • money markets
    • retirement accounts
    • savings accounts
  • Applications for existing account holders auto-populate with information from the core.
  • For new clients, a branch employee can use scanners or tablets to take a picture of the consumer’s driver’s license and prepopulate the application.
  • Utilize 3rd party data sources to prepopulate applications.

Facilitate fast, intuitive, frictionless connections

  • Make account opening available 24/7, no matter where the consumer is, with a responsive, online/mobile application.
  • Start, save and pick applications back up in multiple locations through the omnichannel process.
  • Enjoy simple and intuitive navigation through the frictionless design.
  • Easily determine and present additional relevant loan products to consumers through our integrated Cross-Sell Module.
  • Run weekend or holiday specials without waiting for IT support through the fully configurable workflow.
  • Account data is immediately transferred to your core system, maintaining security and accuracy.
  • Increase security by connecting with OFAC and third-party fraud prevention software.
  • Integrate with third-party payment processing providers to transfer funds into new accounts.

Improve your account opening process through analytic

  • Robust analytics track multiple points of data, including abandonment rates and consumer time spent on each page. Utilize this data to improve your application process.
  •  Use analytics to identify application bottlenecks, to map the optimal route that lowers abandonment rates, and so much more.