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Digital Onboarding grabs $58M to help banks with profitable customer engagement
Digital Onboarding aims to help financial institutions not waste hundreds of dollars on customers who open accounts only to close them.
This often leads to between 25% and 40% of new checking accounts closed within the first year, said Brown, CEO of Digital Onboarding, citing a statistic from the 2023 Future of Finance Report. “A lot of the valuable parts of the relationship were taken away by neobanks getting people to swipe a debit card,” Brown told TechCrunch. Digital Onboarding also plans to invest in additional segmentation and profile management, marketing attribution, machine learning and embedded fintech functionality.
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