Focused on simplicity, speed and security, the new deposit product application makes it even easier to open savings and checking accounts
Alliant, a nationwide digital credit union and one of the largest “challenger financial institutions,” announced the launch of an enhanced digital account opening process for new members opening checking and savings accounts.
It’s now easier than ever for new members to open and fund the accounts they need in minutes. This enhancement to the application will reflect the award-winning banking experience new members will come to enjoy at Alliant.
“Alliant is committed to providing best-in-class solutions to our members. That means prioritizing award-winning online and mobile experiences – including members’ first touch with us, our online application,” Alliant Chief Digital Officer Sumeet Grover said. “We’re able to keep investing in digital solutions because Alliant doesn’t have shareholders or costly branches, and we measure our success by what we give back to members.”
Latest Fintech News: Survey Reveals Connection Between Financial Savviness & Use of Digital Banking Tools
Alliant focused on three distinct areas when enhancing the account opening process:
Simplicity
As a credit union, each customer that wants to open an account at Alliant needs to be part of a qualifying organization or community to be eligible for membership. The Alliant team found that membership eligibility during the online application was confusing to new many members. As a result, the new application flow was simplified to better explain membership qualifications.
Alliant started with a new application for its two most popular deposit accounts, high-rate checking and high-rate savings. It will add other deposit accounts to the application, including certificates, kids savings and teen checking in the near term.
Speed
Members want the account opening process to be quick. To enhance the experience, Alliant incorporated the latest technology to make the application even quicker to complete. Alliant engineers expect to cut the application time by more than half from the previous application.
Latest Fintech News: imagin Takes the Leap Into the Metaverse, Becoming the First European Fintech Company in the Virtual World
Security
Alliant utilized the latest technology for quick identity verification. Manual reviews of applications will be reduced because of these new, behind-the-scenes tools.
“We all have high expectations from digital financial institutions like Alliant,” said Grover. “We’re excited to challenge and exceed those expectations with our simple and quick digital account opening process.”
Alliant has been recognized among the very best financial institutions, including Business Insider’s Best Banks 2021, CNBC’s Best Credit Unions for 2021, Bankrate’s Best Banks and Credit Unions for Mobile Banking, and NerdWallet’s Best Savings and Checking accounts.
Latest Fintech News: Adyen to Offer Tap to Pay on iPhone to Customers Later This Year
[To share your insights with us, please write to sghosh@martechseries.com]