Bank customers will have an easier time signing up for reciprocal deposit services under a new partnership between Prelim and IntraFi.
IntraFi, the inventor of reciprocal deposits, provides services that enable banks to offer their customers access to millions of dollars in aggregate FDIC insurance across its more than 3,000 network banks. Prelim is a fintech renowned for its digital onboarding solutions for consumer and business accounts.
The partnership between IntraFi and Prelim promises to ease onboarding for customers of banks signing up for ICS® and CDARS®.
“We are excited to offer banks a service that can make it easier to onboard their customers to ICS,” said IntraFi CEO and Co-Founder Mark Jacobsen.
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As demand for digital banking soars, onboarding has become a critical part of the customer journey. “It’s often the first interaction a customer has with a financial institution, and they expect a real-time, seamless experience,” said Heang Chan, CEO and Co-Founder of Prelim.
However, onboarding customers can be cumbersome and inefficient when customer information may be hard to obtain and manage. The process can involve a lot of paperwork, and banks have to adhere to various compliance requirements—precisely the kinds of challenges Prelim was created to help banks manage.
“We’re excited to work with IntraFi on a solution that will enable IntraFi’s network banks to seamlessly onboard customers from the Prelim application,” Chan said.
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