Customer Case Study: Island Federal Credit Union reduces attrition by 25% for checking account holders>> Read the case study
BREAKING NEWS
Digital Onboarding grabs $58M to help banks with profitable customer engagement
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Customer Case Study: Island Federal Credit Union reduces attrition by 25% for checking account holders>> Read the case study
BREAKING NEWS
Plano, TX (August 4, 2022) – Marquis Software Solutions, Inc. announced that it partnered with Digital Onboarding, Inc. to empower financial institutions to take action on crucial consumer insights and build deep and profitable relationships. Under the partnership, Marquis’ will offer the Digital Onboarding engagement platform to its 650+ bank and credit union customers.
Marquis provides marketing and compliance software and expertise to financial institutions. It helps financial institutions assemble, analyze, and act on their data. Digital Onboarding provides an engagement platform to financial institutions. The proprietary platform solves the engagement and attrition challenge by making it easy to adopt the services available to them.
According to Marquis’ national peer database, 96 percent of single-service customers close their accounts within the first year. When consumers have three or more products, the first-year attrition rate drops to 4 percent. Tech-savvy consumers expect it to be easy to adopt account-related services and additional products. When friction stands in the way, consumers seek simpler alternatives.
“Financial institutions spend hundreds of dollars to acquire a checking account, but many accounts are closed in the first year,” said Susan R. Faulkner, CEO, Marquis. “The industry has an engagement problem, and Marquis is partnering with Digital Onboarding to solve it. We deliver actionable insights that can fuel growth, and with the Digital Onboarding partnership, Marquis can offer financial institutions a way to capitalize on those insights. It is the perfect match, and I am excited to partner!”
With the new partnership, financial institutions can harness consumer data to segment, target, and personalize engagement campaigns. Marketers can leverage the Digital Onboarding platform to instantly deliver emails, SMS text messages, and personalized microsites that let consumers enroll in direct deposits in seconds, update their default payment methods at multiple merchants simultaneously, enroll in digital banking, sign up for eStatements, and more.
“Marquis and Digital Onboarding created a powerful solution that will help financial institutions drive organic growth,” said Ted Brown, CEO, Digital Onboarding. “By partnering with Marquis, we can not only give financial institutions a platform that engages members, but we can also deliver member insights that help financial institutions target consumers with highly personalized messages, self-services tools, and offers that convert. It is a fantastic combination, and I am excited to partner!”
About Marquis
Marquis is a Plano, Texas-based company that is focused on getting results for over 650 financial institutions nationwide. Marquis sets its clients apart from their competition by providing expertise in data analytics, MCIF, CRM, strategic consulting, profitability, and direct marketing – along with CRA, HMDA & Fair Lending compliance. For about 35 years, Marquis’ focus has been to partner with their clients to realize provable results with its software, services, and consulting. Results. Nothing else matters. For more information on Marquis, visit www.gomarquis.com. Marquis is owned by private equity firm, Rockbridge Growth Equity. For Marquis media inquires, please contact: Jennifer Johnston, AVP, Communications Specialist, at jenniferj@gomarquis.com
About Rockbridge Growth Equity
Rockbridge Growth Equity is a Detroit-based private equity firm targeting control and minority equity investments in lower middle market services businesses headquartered in North America, including Digital Media & E-Commerce, Technology- Enabled Products & Services, Financial Services and Consumer Services. Rockbridge Growth Equity was initially founded in 2007 to serve as a private equity firm affiliated with the Rock Ventures Family of Companies, which includes Rock Holdings, Inc. (the holding company for Rocket Companies) and over 100 other companies owned by or affiliated with Dan Gilbert. For more information on Rockbridge Growth Equity, visit https://www.rbequity.com.
About Digital Onboarding
Digital Onboarding Inc. is a SaaS technology company focused on helping banking and credit union customers activate their financial services products. Digital Onboarding provides a fully automated new account activation platform that is more efficient and effective than traditional phone calls, emails, direct mail, and print brochures, driving profit by increasing new customer and member activation rates. To learn more, visit https://www.digitalonboarding.com. For Digital Onboarding media inquiries, contact Laurie McLachlan, Chief Marketing Officer, at laurie@digitalonboarding.com or (617) 921-2916.
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