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Digital Onboarding to Enhance Customer Experience for Mariner’s Bank

Mariner’s Bank, an independent community bank based in Bergen County, New Jersey, has partnered with Digital Onboarding to make the onboarding process easier for new customers. Digital Onboarding’s automated new account activation platform will also help the $390 million bank boost customer engagement by encouraging and motivating its customers to take advantage of a variety of account-related services.

Calling the choice of Digital Onboarding “a no-brainer,” Mariner’s Bank President and CEO Frank Giancola said the new technology would enable the bank’s professionals to spend less time shuffling paper and more time helping people. “Every time we open a checking account, we have the opportunity to build a relationship and it’s critical that we make it as simple as possible for new customers to enroll in online banking, download the mobile app, and sign up for direct deposit,” Giancola explained. “We get one bite at the apple with new customers and, if we rely on welcome letters and onboarding phone calls, we’ll probably never see them again.”

Digital Onboarding CEO Ted Brown underscored the issue of how time-consuming customer acquisition can be. “There is too much emphasis on new account acquisition in the financial services industry,” he said.  “Without a strategy to engage new customers after an account is opened and turn them to profitable relationships, all you’re doing is pouring water into a leaky bucket.

The Digital Onboarding platform helps FIs execute this strategy by using SMS and email reminders, a customized activation webpage, and gamified incentives rather than paper brochures and phone calls. Having customers take broader advantage of their accounts, according to the company, leads to greater customer satisfaction, as well as improved conversions and cross-selling opportunities for FIs. Banks and credit unions can go live with the platform in weeks; no core system integration required.

Founded in 2015 and headquartered in Boston, Massachusetts, Digital Onboarding demonstrated its platform at FinovateSpring 2018. In June, the company announced a partnership with Foothills Credit Union, a California-based community institution with more than $100 million in assets. The previous month, Digital Onboarding teamed up with Massachusetts’ Belmont Savings Bank ($2.75 billion in assets). Additional partnerships forged by the company in 2018 included deals with Somerset Trust Company (more than $1 billion in assets) and Ohio Healthcare FCU ($80 million in assets) in March, and with 700,000-member Digital Federal Credit Union (better known as “DCU”) in February.

Join Digital Onboarding next month as the company demonstrates its latest technology at FinovateFall 2018 in New York.