CNB&T signs Digital Onboarding Inc in plan to boost digital account take-up
Community National Bank & Trust of Texas (CNB&T) is seeking to improve adoption of digital account-related services via Digital Onboarding Inc’s automated new account activation platform.
The vendor says its solution gives customers access to digital tools that make it easier to switch direct deposits, update default card payment methods at multiple merchants simultaneously, and adopt digital banking services that drive cost savings and longevity.
Ashley Grigar, CNB&T COO, says the bank had “invested in offering a modern and frictionless digital banking experience”, but the problem with these services is low customer adoption.
“The bank is now focused on making it easier for customers to take full advantage of our suite of digital services. We know that communication is key to realising the full potential of our digital initiatives, and Digital Onboarding is going to help CNB&T succeed.”
Previously, CNB&T relied on branch staff to educate new account openers on account-related services. Customers needed to make an effort to enroll in digital banking services once they left the branch or opened their accounts online and adoption rates were low.
“You can offer the best online and mobile banking experience in the market, but if customers never enroll in those services, it is a wasted investment,” says Ted Brown, CEO, Digital Onboarding Inc.
CNB&T has $900 million in assets and operates from 14 locations across Texas.
The Digital Onboarding platform was launched in 2018 and has built up a sizeable customer base with US banks and credit unions, starting with Marlborough, Massachusetts-based Digital Federal Credit Union (DCU).