DULUTH, Ga.--(BUSINESS WIRE)--Digital Insight, an NCR company, today announced it has added the automated account switching solution ClickSWITCH, a turnkey solution that simplifies the switch of recurring payments and deposits for a financial institution’s new and existing account holders, to its product suite.
“Our relationship with ClickSWITCH reinforces our commitment to provide innovative digital banking solutions,” said Jeff Hughes, General Manager, Digital Insight and CTO, NCR Financial Services. “ClickSWITCH is an excellent addition to our existing suite of SaaS solutions as it helps our financial institution customers decrease new account attrition.”
With ClickSWITCH, account holders can initiate a switch of recurring payments and deposits from their former financial institution in as little as 10 minutes using a mobile device or personal computer. Digital Insight will provide the solution to its financial institution customers through a strategic alliance with the company that developed the product, also named ClickSWITCH.
“We're very excited about our new relationship with Digital Insight,” said Cale Johnston, CEO of ClickSWITCH. “ClickSWITCH has established itself as the premier account switch service in the market. Working with Digital Insight will further enhance the customer experience by allowing us to integrate with the leading digital banking vendor.”
Account holders are often overwhelmed by the amount of time and work required to change their direct deposits and automatic payments. In fact, 59 percent of consumers think switching financial institutions is “too much of a hassle.”1 As a result, less than half of new checking accounts are active after the first 90 days, which can lead to lost revenue for financial institutions.2 ClickSWITCH’s automated process makes moving recurring payments and deposits from their previous financial institution much easier for account holders. This benefits financial institutions by increasing the chances new account holders will use their accounts more frequently and help stem first-year attrition.
About Digital Insight
Digital Insight, an NCR company, helps banks and credit unions achieve their goals and grow by offering innovative online and mobile banking solutions that make it easier for consumers and businesses to manage their money. Our proven banking innovations give financial institutions the flexibility and control to engage more, increase retention and cross-sell effectively.
About NCR Corporation
NCR Corporation (NYSE: NCR) is the global leader in consumer transaction technologies, turning everyday interactions with businesses into exceptional experiences. With its software, hardware, and portfolio of services, NCR enables more than 550 million transactions daily across retail, financial, travel, hospitality, telecom and technology, and small business. NCR solutions run the everyday transactions that make your life easier.
NCR is headquartered in Duluth, Georgia with over 30,000 employees and does business in 180 countries. NCR is a trademark of NCR Corporation in the United States and other countries.
ClickSWITCHTM is a unique account holder acquisition technology for financial institutions that simplifies the process of bringing new customers onboard by quickly, safely and efficiently switching their recurring payments from their old accounts to new ones. Based in Eagan, MN, the company's industry-leading solutions help clients to increase account holder acquisition and activation rates, engage during onboarding, and cross-sell products to capture full profit potential. ClickSWITCH is a technology leader delivering world-class solutions to financial institutions of all sizes. To learn more, visit www.ClickSWITCH.com.
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1 consumersunion.org, Trapped at The Bank, September 2013
2 BAI, With Onboarding, Cash Management Rules, October 2014