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Digital Onboarding introduced a $58 million progress spherical, boosting its complete funding to $62.6 million.
As we speak’s funds come from Boston-based non-public fairness agency Volition Capital.
Digital Onboarding will use right this moment’s funding to speed up its product roadmap, enhance help for current 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 this moment. 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 this moment’s funding to speed up its product roadmap, enhance help for current clients, and drive consciousness in new markets. The corporate additionally notes it plans to double its headcount by the top of this yr.
Digital Onboarding presents a SaaS software to assist banks take away friction in the course of 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 particularly 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 growing sturdy campaigns for buyer acquisition. Nevertheless, digital transformation usually stalls on the onboarding stage of the brand new buyer or member lifecycle,” stated Digital Onboarding CEO Ted Brown. “Monetary establishments have a major alternative to make enrolling in and establishing deposit, cost, and different providers easy and seamless. Making these as accessible and straightforward to finish as attainable has a measurable optimistic influence on buyer retention and loyalty.”
Brown based Digital Onboarding, initially often called SalesBrief, in 2015, alongside along with his co-founder Jonathan Crossman. The corporate pivoted to the monetary providers realm in 2017 after taking part 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 higher inform its members and cross-sell product presents. Earlier in 2023, Digital Onboarding additionally signed Jack Henry, Legacy CU, and others.
As we speak’s announcement is a part of a wave of fintech funding that has surged up to now couple of weeks.
Picture by Sigmund on Unsplash
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