New App from Metavante Eases Account Opening for Seacoast National Bank

Metavante (Milkwaukee) has released a new consumer e-banking application called Account Open. This new services is designed to allow customers to activate new deposit accounts within Metavante's Consumer eBanking (CeB) solution. This latest technology allows Metavante CeB clients' banking customers to activate new deposit accounts in real-time and without the need to complete lengthy applications for new customer acquisition.

Account Open lets financial institutions using CeB to directly market, sell and fulfill additional deposit accounts to customers who regularly use their online banking platform. Customer sign in with a secure login process. Then can then open additional deposit accounts and fund them through online transfers from a bank or held-away account. According to Metavante, the account is opened in real-time, is viewable in the customer's account and can be completed in less than 30 seconds. Deposit products supported include checking, savings, money market and certificate of deposit accounts. The Account Open technology is part of a set of integrated deposit gathering capabilities offered through Metavante's eBanking Solutions that also include online account creation services and multi-channel servicing applications.

Seacoast National Bank (Stuart, Fla.; $2.3 billion in assets) is piloting Account Open as part of its CeB relationship with Metavante. Since introducing Consumer eBanking Account Open to its customers, Seacoast National has experienced a marked increase in the total number of new deposit accounts created, resulting in augmented deposit growth for its organization, according to the bank.

"We are using Metavante's enhanced eBanking solution in order to retain existing customers, attract additional ones and grow deposits," said Matthew Kennedy, alternative delivery manager, Seacoast National Bank, in a statement. "Because of our success with the CeB platform, we decided to participate in the Account Open pilot. In the first month alone, we experienced a 243 percent increase in new deposit accounts that are opened online. This new technology from Metavante has enabled us to more than double our deposit growth while increasing customer satisfaction and reducing overall costs."