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Automating Account Opening In-Branch and Online: A Case Study of Alliant Credit Union

Automating Account Opening In-Branch and Online: A Case Study of Alliant Credit Union

A new report from Aite Group reveals that Alliant Credit Union, on average, was able to drive 13% of new account applicants to its online system in the first six months after deployment, and examines the business case for automated account opening solutio
By Eva Weber

Boston, MA, April 4, 2007 – New research from Aite Group, LLC, provides a case study of Alliant Credit Union's successful implementation of an automated account opening solution for new accounts. It offers banks and credit unions a look at the implementation process and reveals the issues and benefits associated with such a project.


Source. Alliant Credit Union, Aite Group

The case study provides models for calculating potential savings that can be attained by automating the account opening process, both online and in-branch, and examines how Alliant is using new account opening technology to support business growth strategies. The report shows that in the first six months after deploying the solution, Alliant was able to drive, on average, 13% of new account applicants to its online system, benefiting both Alliant and the customer.

According to Eva Weber, an analyst at Aite Group and author of the case study, "The beauty of Alliant's account opening system is that it provides enhanced customer convenience while giving Alliant the much-needed flexibility to execute on customer acquisition strategies. The added savings benefits of the system solidify the overall business case for such solutions, resulting in a win-win for both the credit union and its members."

This 21-page Impact Note contains 16 figures. Clients of Aite Group's Retail Banking services can download the report.