Austin, Texas, April 19, 2021 - Abrigo, the leading technology provider of compliance, credit risk, and lending solutions for community financial institutions, today announced the launch of Abrigo Commercial Account Opening. In partnership with ProcessMaker, a leading provider in workflow management, Abrigo’s robust commercial account opening and treasury services software is an end-to-end online solution that allows financial institution customers to open commercial accounts from anywhere and in 10 minutes or less.
Nearly three out of four bank customers agree that account opening should happen instantly, according to a recent study by Ekata, a global identity verification solution provider. However, excessive paperwork and bottlenecks in the back office make this impossible for most banks and credit unions. Abrigo’s customizable commercial account opening and treasury services software makes it easy for banks and credit unions to provide rapid account opening, bolstering customer satisfaction. Another unique component of this new software is the pairing of it with treasury management services onboarding. Abrigo Commercial Account Opening enables financial institutions to ask customers about adding treasury services at the same time they are opening the deposit account. Automating this process makes it easier for financial institutions to capture this important stream of fee income earlier and seamlessly. Abrigo Commercial Account Opening streamlines and automates many time-intensive components of account opening and treasury services while improving the experience for customers and members by, among other benefits:
- Allowing the customer to apply for multiple business accounts at once
- Incorporating a dynamic application that asks tailored questions contingent on previous answers
- Allowing for e-signatures as well as remote upload of supporting documents
- Allowing for applicants to start, save, and resume applications at any point
- Supporting complex relationships and notifying related parties when their signature or other information is needed
- Enabling treasury services to be jointly set up with the initial account opening