When we have a conversation about mobile account opening with someone who hasn’t heard of it before, it usually doesn’t take very long to get to the question:  “So it’s an app?” Today most people are hardwired to equate “mobile” with “mobile application.” They’ve been conditioned by hundreds of startup stories–Twitter, Venmo, Snapchat–and yes, […]

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How many accounts are opened online? How many of those applications come via smartphone or tablet devices? What time of day do these applicants apply, and who are these applicants? And most importantly, what can you do to keep them from quitting the application, and position yourself for account opening success in the future? For […]

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Here at Andera we spend a lot of time talking about the “virtual branch.” Our digital account opening solution, oFlows, provides vital functionality that turns your website from a something that’s basically a bulletin board plus a portal to online banking into a true “digital place.” We make it possible for banks and credit unions […]

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We are making a small but important change to our oFlows online and mobile account opening solution: we can now pass data from our workflow to an online banking enrollment site in real time. The new functionality saves applicants time by letting them skip some data entry in the online banking enrollment process, but more importantly, […]

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In January Andera released a special report called “The Future of Account Opening” (check it out here if you haven’t yet) that had lots of serious stuff in it about things like where account opening is headed and what mobile account opening is, exactly, but also some really fun graphs like this one: This data […]

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Today I thought I’d share an interesting tidbit of data from Andera’s customer base. We provide our online account opening solution to over 500 bank and credit unions. Our customers can choose to allow their applicants to fund new deposit accounts online either through: 1. ACH Transfer 2. Credit/Debit Because of different risk protocols, not all […]

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There are so many industry reports about banking trends out there that it can be hard to sort through the noise. Sometimes I try to apply heuristics. This one’s published by McKinsey, so that means it must be good, right? Shoot, it’s only three pages with no graphs. This one is blowing up my twitter […]

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Andera just hosted a webinar on “The Future of Account Opening” where we asked Ying Chen, SVP of Product Management, and Jeff Kukesh, Senior Product Manager of Emerging Technology & Platform, about their vision for where online account opening and mobile account opening are going. Sometime into the session, Ying mentioned that she wants to make Andera’s […]

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Originally published on CUInsight. In 1962, Everett Rogers wrote the Diffusion of Innovations, a book that explored the factors that influence the speed and spread of technology adoption, and postulated that for most technologies the rate of adoption follows a bell curve: risk-tolerant or innovative individuals adopt first, the majority adopts en masse once the technology has […]

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Over the past few months we’ve complained a lot about how banking has become just another commodity, how financial institutions do a horrible job of differentiating themselves, and how consumers care about their bank or credit union about as much as they care about a can of peas. All this deriding of banking isn’t really […]

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