NCR company Digital Insight launched a new automated account switching solution called “ClickSWITCH” to help simplify switching of recurring payments and deposits for financial institutions’ new and existing accountholders.
Using ClickSWITCH, accountholders can switch all their recurring payments and deposits from their financial institutions within 10 minutes from a personal computer or mobile device, the company said.
The solution, which has been developed by the Eagan, Minnesota-based company that is also called ClickSWITCH, is being extended to Digital Insight’s financial institution customers in a partnership between the two companies, according to a press release.
“ClickSWITCH is an excellent addition to our existing suite of SaaS solutions as it helps our financial institution customers decrease new account attrition.”
About 59 percent of consumers think that switching checking accounts is too much of a hassle, which results in abandonment of less than half of the newly created accounts after a 90-day period.
This is where ClickSWITCH’s solution comes to the rescue with its platform that allows users to quickly make all the redirects by providing limited information.
“ClickSWITCH has established itself as the premiere 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,” said ClickSWITCH CEO Cale Johnston.
Another functionality which ClickSWITCH supports is helping customers with account closures. Much like the registration process for setting up a transfer for recurring pay, customers can also close their accounts by filling out an intuitive form which quickly resolves the issue.
Some of the other functionalities the service provides includes bill pay, auto-transfers, real-time switch confirmations, payment tracking and auto-debit payee notifications of new account information and billing address.
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