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Digital Onboarding introduced a $58 million progress spherical, boosting its complete funding to $62.6 million.
At this time’s funds come from Boston-based non-public fairness agency Volition Capital.
Digital Onboarding will use right now’s funding to speed up its product roadmap, enhance assist for present clients, drive consciousness in new markets, and improve its headcount.
Digital Onboarding, a monetary providers onboarding service supplier, introduced a $58 million progress funding right now. The funds come from Boston-based non-public fairness agency Volition Capital and increase Digital Onboarding’s complete funding to $62.6 million.
Digital Onboarding will use right now’s funding to speed up its product roadmap, enhance assist for present clients, and drive consciousness in new markets. The corporate additionally notes it plans to double its headcount by the tip of this 12 months.
Digital Onboarding provides a SaaS device to assist banks take away friction through the onboarding course of. The corporate’s digital engagement platform helps monetary providers corporations ship compelling providers that preserve clients round for the long-term. The corporate is very efficient in serving to inspire accountholders to take motion as a result of it aggregates information throughout banks with related enterprise targets.
“Banks and credit score unions are pushing additional into digital maturity, with many offering on-line banking and creating strong campaigns for buyer acquisition. Nonetheless, digital transformation usually stalls on the onboarding stage of the brand new buyer or member lifecycle,” mentioned Digital Onboarding CEO Ted Brown. “Monetary establishments have a major alternative to make enrolling in and organising deposit, cost, and different providers easy and seamless. Making these as accessible and simple to finish as doable has a measurable constructive affect on buyer retention and loyalty.”
Brown based Digital Onboarding, initially referred to as SalesBrief, in 2015, alongside along with his co-founder Jonathan Crossman. The corporate pivoted to the monetary providers realm in 2017 after collaborating in a credit score union’s fintech accelerator.
Final November, East Cambridge Financial savings Financial institution chosen Digital Onboarding to extend its checking account activation charges, and Buckeye State CU tapped the Boston-based firm to raised inform its members and cross-sell product provides. Earlier in 2023, Digital Onboarding additionally signed Jack Henry, Legacy CU, and others.
At this time’s announcement is a part of a wave of fintech funding that has surged up to now couple of weeks.
Photograph by Sigmund on Unsplash
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