Compliance Systems has introduced a mobile-enabled online account opening solution to streamline onboarding experience.
According to the company, the solution will help the financial institution customers to open accounts up to ten times faster.
Go deeper with GlobalData
The online account opening solution is specially designed to streamline documentation process. It also features videos and tutorials to increase engagement and improve customer experience.
Arkansas-based Encore Bank has already adopted the solution.
Encore Bank executive vice-president and chief risk officer Erin Simpson said: “We wanted to offer the fastest, most consumer native service with the least friction for our customers and staff, which is why we chose to add Compliance Systems’ mobile-enabled documentation to our account opening process. Our customers can open accounts in as little as 2.5 minutes versus what once took 30 minutes in branch.”
Compliance Systems president Chris Appie said: “Streamlining documentation and enabling transparent, consumer-centric content helps financial institutions begin meaningful relationships with customers and members – one built with a sense of ease and understanding.
US Tariffs are shifting - will you react or anticipate?
Don’t let policy changes catch you off guard. Stay proactive with real-time data and expert analysis.
By GlobalData“Banks and credit unions can now improve the new account opening process using this mobility-first solution as we have been able to combine speed with data and compliance to ensure a safe and seamless account opening experience that rivals some of the online retail interactions consumers enjoy.”
Based in Michigan, Compliance Systems delivers financial transaction technology and services. The company counts more than 1,500 banks and credit unions as clients.
