Deposit Marketing

3 Crucial Steps To Increase Digital Deposits

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In 2024, we’re witnessing significant changes in banking behavior. In the U.S., digital banking continues to evolve, and many consumers are leaning toward online account opening for convenience and ease of use. According to a survey by the American Bankers Association, two-thirds of Americans prefer digital channels, with 40% managing their accounts primarily online. Only 18% of consumers favor branch visits, demonstrating the growing appeal of digital banking​ (ABA Banking Journal)​.

Customers who traditionally preferred to apply for bank accounts or loans in person now find online processes more convenient. Consequently, increasing online account sign-ups is crucial for financial institutions looking to attract new clients and strengthen existing relationships. Here are our top three strategies to boost digital deposits.

1. Get The Right OAO Technology

First things first, choose the right online account opening technology. Also, don’t just help select the vendor; make sure that you (personally) test their online account opening platform yourself from both a desktop computer and mobile device to ensure it is as user-friendly as they claim it to be.

Key Factors When Choosing Digital Account Opening Solutions:

  • Customization & Control

You want to ensure that the portal can maintain the same look and feel as your other online properties demonstrate credibility and continuity.

  • Ease of use

Can users easily move through the application? Is it possible to save progress and return to it? What if they start the application online but want to finish it in a branch office?

  • Support

What type of support availability does the vendor offer to ensure the platform works properly without downtime or other technical issues?

  • Integrations

The best online vendors have integrations with other important systems and data through APIs (application programming interfaces). **We can’t overstate the importance of this next bit of info:  It’s important that your bank or credit union have the ability to measure performance data through your (not the platforms) analytics tools like Google Analytics and Google Tag Manager.** 

  • Cost

Naturally, it’s important to select the best vendor with the right tools at an affordable price point. However, avoid choosing a vendor solely on price as the importance of online account opening is only going to become more important, making this channel worthy of investment.

  • Security

Lackluster security protocols can be devastating, and the 2017 Experian data breaches were an example. These events compromised data and ruined reputations.


Online Account Opening Vendors for Banks & Credit Unions:



Narmi, by far, is the easiest to track data inside your own analytics tracking. Ask us how this benefits you when doing digital ads inside the Google Ads platform–it will amaze you!

Narmi provides several features that empower banks to optimize their digital account opening process:

  • Automation and Real-Time Account Opening

Narmi’s platform automates the application process, reducing the time required for compliance, verification, and risk assessment. It supports instant account opening and funding, offering customers a seamless and efficient onboarding experience​ (The Financial Brand)​.

  • Fraud Prevention and Compliance

Their system integrates with various fraud detection tools to secure the account opening process. It incorporates KYC (Know Your Customer) standards, enhancing security and compliance.

  • Multiple Funding Options

Customers can fund accounts using ACH, credit/debit cards, or external transfers, which increases the likelihood of successful funding and application completion.

  • Cross-Selling Capabilities

The platform leverages customer data to suggest complementary banking products, improving cross-sell opportunities.

  • White-Label Customization

With Narmi’s white-label solution, banks can customize the account opening platform with their own branding. This feature is user-friendly, requiring no advanced tech knowledge to implement.

  • Integrations and Partnerships

Narmi integrates with major partners, including Stripe and Plaid, to create a robust ecosystem that enhances the digital account opening experience.

  • Dashboard and Data Analytics

The consolidated dashboard provides a holistic view of customer applications and data. It also facilitates A/B testing, which helps banks analyze customer decisions and optimize their approach based on actionable insights.



Bottomline offers tools like:

Use hard statistics to identify cross-selling opportunities, reduce client churn, and track performance with customizable benchmarks.

It can also increase more digital deposits since 72% of US executives state they would give more business to banks that can provide tailored, real-time insights.

  • Fraud and financial crime management

Track and prevent high-risk transactions in real-time. The Enterprise Cash Management dashboard lets you analyze transactions and receive alerts in one consolidated area.

  • Increase customer engagement by 22% with its digital banking IQ tool.

With a mobile-friendly account opening solution, your clients can use Apple Pay, ACH, or Google Pay. They can also digitally sign and agree to contracts, which will substantially increase online account opening.



Fiserv can provide:

  • Many funding options

Your clients can fund accounts using their credit/debit card or transfers from another bank. Two in-session account verification methods also increase funding rates.

  • Secure account verification

Use real-time verification to confirm identities and secure accounts. Fiserv helps you achieve this with many data sources and its own verification methods, which include trial deposits.

  • Easily customizable features

Every institution can set its own parameters when making application decisions. You can add or delete as many application steps as you like. The system also includes a call center module for extra support.

  • Account opening queue and operational workflow

Don’t lose a potential client over wait times! Instead, use automation to authenticate and verify any future client. This process will also be compliant with risk and compliance standards. This seamless tool will also make it easier to cross-sell clients into complimentary accounts.

  • Comprehensive risk management

Manage suspicious behaviors and transactions in real time. Use AI systems and databases to catch threats before they cause lasting damage.



MeridianLink’s online account opening platform stands out with these distinctive features:

  • Omnichannel Account Opening

MeridianLink enables customers to start their applications on one device and complete them on another. The omnichannel approach provides a seamless experience across desktops, smartphones, and tablets, meeting customers where they are​ (The Financial Brand)​.

  • Data-Driven Personalization

The platform leverages advanced analytics to deliver personalized recommendations to customers. This capability improves cross-selling and helps banks better understand their clients’ needs.

  • Automated Compliance

MeridianLink includes automated compliance features that streamline regulatory checks. The built-in tools verify identity and meet anti-money laundering (AML) regulations, minimizing manual work and reducing errors.

  • Loan and Deposit Integration

MeridianLink’s system integrates loan origination and deposit account opening into a single solution, simplifying workflows and providing a unified experience.

  • Flexible Customization

The platform is highly customizable, enabling institutions to tailor the application process, branding, and eligibility requirements according to their specific needs. This flexibility improves customer satisfaction and onboarding efficiency.

  • Partner Ecosystem

MeridianLink’s integrations include third-party tools like credit bureaus and fraud detection systems, providing access to a wider set of data and enhancing the bank’s risk management capabilities.

  • Workflow Automation

Workflow automation streamlines back-office processes, reducing operational costs and processing times. It also ensures consistent approval standards, leading to quicker application decisions.


Jack Henry

Jack Henry (JHA) has some useful tools that can increase digital deposits like:

  • JHA Small Business Cash Management.

This lets small business owners apply for bank accounts, make ACH transfers, wire transfers, and even access lines of credit online.

  • Its multi-factor authentication system requires consumers to double-verify their identity, which is more secure than a one-time password entry. This system also detects unusual activity and asks consumers their predetermined secret questions to protect accounts.
  • The Symantec hard tokens generate passcodes (i.e., tokens) that provide an extra layer of protection when users access accounts.
  • The NetTeller online banking portal allows clients to set up one-time and recurring payments online and download account information into Quicken products.

Quicken offers detailed tax and investment tools, like Morningstar’s portfolio X-ray solution.



CSI’s platform is tailored for banks to offer comprehensive online account openings with the following capabilities:

  • Queue Management System

CSI’s queue management system prioritizes and tracks each new account application through to completion. By automating queue management, banks can streamline the application process while ensuring each application gets the proper attention it needs.

  • CRM Integration

CSI’s platform integrates seamlessly with CRM tools, which helps banks manage customer relationships better and use data to refine marketing and cross-selling strategies. This integration ensures that all customer information remains consistent and easily accessible across platforms.

  • Fraud Prevention with AI Tools

Their advanced AI and machine learning models help detect fraudulent behavior more efficiently by analyzing patterns in real time. This minimizes the risk of onboarding malicious actors.

  • Core Banking System Compatibility

CSI’s account opening solution integrates directly into the bank’s core banking system, ensuring that data flows seamlessly. This compatibility reduces errors and allows for immediate use of the data in other banking operations.

  • Mobile-First Design

CSI’s platform is mobile-optimized, providing a consistent experience across devices. This ensures that customers can open accounts from their smartphones with the same ease as on their desktops.



Mantl can help you increase digital deposits via:

  • Automation.

Its automation tools reduce the time spent on compliance, including KYC standards.

  • 50+ integrations.

You can use other partners, including Fiserv, Stripe, FirstData, etc.. when using this system.

  • The digital brand editor tool.

This is a white-label tool, meaning that you can attach your brand to it. It also doesn’t need advanced tech or coding knowledge.

  • Segmenting your clients with various products.

You can analyze those with CDs, investment accounts, commercial accounts, and more.

  • Its consolidated dashboard lets you access all data in one place.
  • A/B testing, which lets you make better data-driven decisions. These tests let you analyze different scenarios based on consumer decisions.


2. Target Existing Customers With Relevant Offers

Regardless of your industry, it’s much easier to keep and up-sell or cross-sell existing clients than get new ones. Studies have shown that it can be 7 times more expensive to gain a new client than to keep a current one. Cross-selling and upselling clients also helps with retention as you grow share of wallet and build loyalty.

For many of your existing customers, they likely have relationships with other financial institutions. You can help simplify their finances by offering to consolidate their insurance, investments, checking accounts, savings accounts, retirement accounts, personal loans, and home mortgage. Are they even aware you offer these products? You can let them know how easy it is to apply online for relevant products using a number of different channels:

  1. Email
  2. Online banking and mobile app popups/notifications
  3. Social media ads (using Customer Match) on Facebook and LinkedIn
  4. Print and electronic statements

For those customers that might be uncomfortable with applying online, be sure to emphasize the security and ease of your OAO technology.

3. Bring Prospects to Your OAO Platform

Once you have your online account vendor and existing customer communications in place; it’s time to develop a strategy to acquire new prospects. Remember that at least 87% of people conduct online research before buying a product or service, so an effective digital marketing strategy is key to increasing digital deposits.

Consider the following cost-effective tactics:

Pay Per Click (PPC) Ads

  • You can leverage pay per click ads on popular search engines like Google and Bing. These ads appear at the top of results when consumers type in a keyword like “open a free checking account online.” Since search engine ads target people actively telling you exactly what they want, they  can send highly qualified traffic to your online applications immediately.
  • Remarketing ads bring users back to your site after they’ve left it. These ads appear on other sites that these consumers might be browsing. If you consistently create educational blog content; this can build remarketing lists with relevant prospects. In turn, this will draw them back to your site, which increases online account opening rates. You could even target users with ads who started an application but never finished.
  • Facebook and Linkedin ads can attract users to your site based on a wide range of demographic and behavioral targeting criteria.
  • Google display ads reach 90% of the internet and among other targeting options they can be used to target people going through specific life events like graduation or relocation (these life events are more likely to cause someone to switch banks).
  • Having online account opening platforms that allow you to track data in your analytics accounts boosts the effectiveness of your ads!


Email Marketing

Email marketing provides an average ROI of $42 per $1 invested. Email is often used to communicate with existing customers, but using marketing automation, it’s also possible to use email to nurture website prospects or people who abandon an online application without completing it.


Content Marketing

Writing quality articles on your blog will help educate your audience and establish you as a thought leader while also improving SEO or Search Engine Optimization. This will drive organic or free traffic to your site from Google and other search engines. While there are only so many people searching for a product or service, there is a great deal more searching online for help with a challenge related to your products and services. Content marketing can dramatically increase the visibility of your website (aka your 24/7 bank branch).

Final Thoughts

It’s crucial to be adaptable regardless of where your community bank is with digitalization. Online account opening has become an essential piece of new account acquisition. Take time to find the right technology for your bank or credit union, but don’t forget the importance of effective marketing to ensure the utilization of your investment!

Want help with increasing digital deposits? Contact us to start a conversation!

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