Unveiled at BAI Retail Delivery 2011, SwitchAgent, which uses both patent-pending technology and live concierge services, is the first solution of its kind available to U.S. financial institutions of all sizes. The banks and credit unions using Deluxe's SwitchAgent service in the beta experienced a 70 percent switch completion rate.

"Changes in bank practices are prompting many people to closely examine the terms of their bank relationships," said Cindy Cantrell, senior marketing and retail operations officer for Bank of Tennessee. "SwitchAgent allows us to both acquire new accounts and ensure that new customers complete the account transition as smoothly as possible."

According to a study by J.D. Power & Associates, 66 percent of account holders would consider switching primary financial institutions, but many accounts go dormant due to the laborious transition process. SwitchAgent assists in shifting multiple billing vendors such as mortgage payments, Social Security payments, and gym memberships to new accounts, easing the transition process for both the financial institution and the consumer.

"SwitchAgent helps provide a superior consumer experience in the early days of the new account relationship," explains Susan Eick vice president of program innovation, research and development from Deluxe Financial Services. "A SwitchAgent concierge works directly with the consumer alleviating the most labor-intensive activity - migrating the difficult-to-move transactions. This eases the process for both the consumer and the financial institutions."

SwitchAgent features a proprietary biller database and patent pending technology, which address both the scheduling and distribution of billing notifications on the customer's behalf. The customer is kept informed through emails and a Switch calendar so they stay aware of their account status.

"The combination of proprietary biller data base and patent pending technology has enabled Deluxe to provide thecountry's first automated switch service," said Eick. We're excited to bring this to the market at a time when so many account holders are considering moves to different primary financial institutions."