Online Account Opening Software

Accelerate customer acquisition, optimize costs, reduce abandonment rates, and deliver a superior customer experience with the help of a scalable and user-friendly online account opening software. Intuitively guide customers through the process with a portal-based solution, built on a low code digital automation platform. Ensure that your account opening interface is intelligent and responsive, allowing customers to initiate, pause, and complete their application across any mix of channels without losing their data. Additionally, empower your employees to upsell and cross-sell products based on customers’ dynamic needs.

Solutions Overview
Benefits

Solutions Overview

Unified Platform for All Banking Products

Single platform to handle all products such as savings, checking, CD, MMA, IRA, HSA, etc.
Ability to handle consumer and business accounts online.

Omni-channel and Personalized On-boarding Experience

Omni-channel support for online, in-branch and customer care channels
Options to start, save, and complete application across multiple devices.

Information Capture and Upload

Pre-fill of data from ID documents or existing customer records
Easy document and signature upload using a variety of devices

Customer Verification and Risk Management

Third-party integration with IDV/IDA vendors for automated decisions
Automatic risk assessment through integration with fraud check software, AML/BSA systems, OFAC databases, etc.

Activity Tracking and Monitoring

Process insights including application volumes, channels, abandonment rates, completion times etc.
360-degree business activity monitoring for a holistic view of the customer lifecycle

Seamless Integration with Third-party Systems

Tight integration into core banking systems for instant account opening
Integration with payment gateways and account aggregates for funding.
Other integrations including online banking, CRM, IDV/IDA, eSign, card issuance, and check ordering

Customer On-boarding Activities

Rule-based intelligent cross-selling and up-selling options
Customer on-boarding activities including online banking enrollment and services setup

Benefits

Ensuring Real Outcomes for Every Role

Chief Executive Officer

Responsible for overall business strategy, CEOs can leverage Newgen’s online account opening software to ensure cost efficiency while generating a higher customer lifetime value, increasing process visibility and control, and driving deposit growth to support the financial institution’s lending portfolio. All of this enables them to deliver:

Increased profitability and revenue
Faster account opening and higher volume of accounts opened
Rapid deployment for a faster ROI
Superior customer experience
Enhanced adherence to compliance with regulatory requirements

Chief Operating Officer

COOs are responsible for streamlining operations, maintaining efficiencies, and ensuring real-time visibility and transparency across all processes. An online account opening software can help them seamlessly manage end-to-end operations, beginning with seamless account opening. Furthermore, it can help them achieve:

Reduced customer acquisition costs
Improved productivity and an optimized workforce
Quicker account opening and customer onboarding
Reduced operational costs
Rapid and easy product additions and upgrades

Digital Marketing Manager

With a focus on engaging and attracting customers, digital marketing managers can deliver timely, contextual communications, via customers’ channel of preference, by implementing a robust online account opening solution. By streamlining the account opening and onboarding processes, digital marketing managers can easily convert leads into customers and enable:

Reduced abandonment rates
Frictionless customer experience
Increased up- and cross-selling
Maximized straight-through processing
Personalized, omnichannel communications

Chief Compliance Officer (CCO)

Responsible for ensuring compliance and mitigating risk, CCOs can leverage a purpose-built online account opening software to safeguard their organization. The software can help CCOs ensure compliance with dynamic regulatory requirements and enable:

Comprehensive application checking
Fraud prevention
Easy auditing and compliance reporting
BSA/AML and customer due diligence
Improved data governance and management

Branch Head

Branch heads and operations managers are the “boots on the ground,” interacting directly with customers and responding to immediate needs. By implementing an online account opening solution, with omnichannel capabilities, they can streamline their customers’ experience, regardless of the channel of transaction, and ensure:

Superior customer experience for branch walk-ins
End-to-end visibility of branch staff and resource utilization
Reduced turnaround times, across all channels
Rapid exception management
Continuous process improvement, in-branch and online

Integrations

Success Stories

Accelerating digital
across 20 branches

Learn how Wilson Bank & Trust is leveraging Newgen’s Digital Transformation Platform for online account opening, business banking, and small business lending.

Seamless Integration with
Fintech Partners

Watch this video to understand how Advia Credit Union is leveraging Newgen to seamlessly integrate with fintech partners and transform member experience.

Enhancing Account
Opening process

Learn how Georgia’s Own Credit Union leverages Newgen’s Account Origination platform to minimize time taken to open an account, and easily integrate with third party systems.

Why Newgen is the
Partner of Choice

Watch this video to learn why Newgen is the partner of choice for Old Point National Bank.

Credit offers
in less than 1 minute

Qander Consumer Finance leverages Newgen’s automation platform to transform and automate their banking processes, delivering credit offers to customers in under a minute.

50%
reduction in cost

Nancy Foster, SVP and Credit Administrator, talks about using Newgen’s solutions to digitally transform BNB Bank’s banking processes for improved customer experience.

Turnaround time reduced
from day to an hour

Equity bank was able to deliver consistent customer experience across all channels, embrace mobile-first approach & eliminate process inefficiencies using Newgens' Online Account Opening Solution.

Frequently Asked Questions

Does Newgen provide an online application portal?

Yes, the Newgen’s digital account opening solution provides a customer portal for the online initiation/application of a new deposit account. The online initiation is an extension of the financial institution’s website and is tightly integrated with the underlying account opening platform. The online initiation is configured as per the branding guidelines of the financial institution.

Which systems Newgen’s online account opening software integrates with?

Newgen online account opening software integrates with the following systems:

Clickswitch, Deluxe, IDScan.net, Plaid, United Postal Service, Glia, Topaz Systems, Magic Wrighter, IMMeSign, Experian, Finastra, Basys.

How does the Newgen solution handle customer onboarding workflow?

Typically, Newgen has seen that once a consumer account is opened, the new customer is onboarded into the core. If the bank views onboarding activities as a separate process/requirement different from this, Newgen would need a more detailed understanding of the bank’s consumer onboarding process. Newgen will work with the bank during the implementation process to align the solution to the bank’s specific requirements regarding consumer onboarding.