As per the press release, the most common challenge that consumers face when trying to fund their deposit accounts in one go is the limited options and convenience of funding methods. ACH transfers have long been the standard for account funding, but with the rise of digital payments, banks and credit unions are now offering debit card funding as an easier and more user-friendly option.
Accelerated Onboarding: allow new accounts to be funded sooner by removing friction in the application process;
More Activated Accounts: convert consumer interest into more activated accounts by offering multiple account funding options;
Reduced Abandonment: reduce the likelihood of consumers abandoning the process by driving digital engagement beyond just the application capture;
Smoother Application Experience: consumers report a smoother application experience with user-friendly funding options like debit cards;
Less Manual Intervention: support teams spend less time doing manual outreach and follow-ups to get accounts fully funded when consumers have multiple funding options to choose from.
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