engagement

Digital Onboarding, a SaaS company specializing in helping financial institutions strengthen relationships with customers, secured $58 million in growth capital from Volition Capital to continue developing its digital engagement platform. They changed the name to Digital Onboarding and began selling its engagement platform to banks and credit unions in January of 2018. Communications from financial institutions, which are under strict regulations, is often paper-based, especially when opening a new account. 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. Digital Onboarding is working with more than 140 financial institution customers.