Digital Onboarding plans product and team expansion following $58m growth capital injection
US fintech Digital Onboarding has revealed its plans for expansion following a $58 million investment from growth equity firm Volition Capital.
Digital Onboarding bags $58m growth investment
Founded in Boston, USA in 2015 and formerly known as SalesBrief, Digital Onboarding provides technology that facilitates digital enrolment for bank and credit union customers.
Making its debut with Digital Federal Credit Union (DCU) in 2017, the platform later went on to serve Mariner’s Bank and Community National Bank & Trust of Texas (CNB&T), among others.
The company says it will leverage the fresh capital to explore additional functionalities within its onboarding and customer engagement platform, including additional segmentation, profile management, machine learning and marketing attribution.
The company also plans to double its staff headcount by the end of the year and boost its support for existing customers.
Ted Brown, CEO and co-founder of Digital Onboarding, says that despite an active drive towards digital maturity by financial institutions, “digital transformation often stalls at the onboarding stage of the new customer or member lifecycle”.
“Financial institutions have a significant opportunity to make enrolling in and setting up deposit, payment and other services simple and seamless,” Brown adds, stating that the efficiency and accessibility of such services can have a “measurable positive impact on customer retention and loyalty”.
