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In addition to the financing, John Philpott, a Partner at Fintop Capital and one of the founding team members of S1 Corporation, and Shawn Ward, Senior Managing Director at Jack Henry & Associates (NASDAQ: JKHY), joined the Board of Directors.
FREMONT, CA: Digital Onboarding, a Detroit, MI-based SaaS technology company that provides a fully automated customer and member engagement platform, raised its Series A funding round of undisclosed amount.
Investors included investments from Detroit Venture Partners and other institutional and individual investors. In addition to the financing, John Philpott, a Partner at Fintop Capital and one of the founding team members of S1 Corporation, and Shawn Ward, Senior Managing Director at Jack Henry & Associates (NASDAQ: JKHY), joined the Board of Directors.
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Led by Ted Brown, CEO, Digital Onboarding provides a SaaS digital engagement platform purpose-built for financial institutions. The platform makes it easier to deliver automated email and SMS reminders that link to personalized, step-by-step, digital guides. By aggregating data across financial institutions with similar business objectives, Digital Onboarding is capable of recommending and delivering campaigns that motivate account holders to take action.
Digital Onboarding partners with more than 40 financial institutions, with its current customers representing in aggregate over $160B in assets.
"Banks have myopically focused on getting new accounts opened to meet aggressive sales targets and are now being forced to contend with the reality that new accounts are worthless if they're not converted into engaged relationships," stated Ted Brown, CEO, Digital Onboarding. "The Digital Onboarding platform has been proven to drive the adoption of additional products and services like digital banking, direct deposit, and automatic payments which drive long-term profitability. With the Series A investment and a Board of Directors with deep expertise in developing high-growth, hugely successful fintech companies, we will look forward to accelerating the execution of our product roadmap, scaling Account Management, and expanding sales."
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