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.
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
Ensuring Real Outcomes for Every Role
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
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
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
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 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
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
Watch this video to understand how Advia Credit Union is leveraging Newgen to seamlessly integrate with fintech partners and transform member experience.
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.
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.
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.
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.
Is the Newgen solution hosted on the cloud?
Newgen’s online digital account opening and loan origination solutions are available on the cloud and on-premise.
Read our whitepaper authored by Jim Marous, Co-publisher, The Financial Brand, to gain detailed insights ...
The client is a leading bank in Vietnam with nearly 30 years of experience. The ...
Wilson Bank & Trust implemented Newgen’s online account opening software, part of the NewgenONE Digital ...
Watch our panelists as they discuss the blueprint for a smooth and successful account opening ...