Banking support solutions provider SilverCloud has partnered with thirdstream to help financial institutions with online account opening.

The partnership seeks to eliminate frictions in online on-boarding processes and improve customer experience.

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Both the companies plan to offer contextual support that will reduce abandonments during account opening.

The technology will leverage thirdstream’s digital online account opening and lending technology and SilverCloud’s banking-specific support solutions.

The applicants can also connect with the chatbot and live chat option to complete the account opening process.

SilverCloud CEO Scott Cornell said: “We are excited about our partnership with thirdstream and the opportunity it provides for our collective customers. As banking continues to move to digital, financial institutions are realizing that a frictionless customer experience is imperative.

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“This means not only great technology, but also an easy-to-understand process with embedded contextual support. Our combined solution enables banks and credit unions to deliver contextual support during the online account opening process frictionlessly to lower abandonment rates.”

thirdstream CEO Keith Ginter said: “Partnering with SilverCloud enhances our digital account opening solutions; it is specifically designed to expand the volume of approved accounts, and focuses on reducing consumer abandonment.

“This partnership rounds out a series of third-party relationships on which we have executed, bringing together solutions meeting customer-specific needs in the configurable ecosystem we have established for our solution set.”

The two companies aim to conduct pilot trials of the technology in this quarter.