Source: Digital Insight
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.