Washington-based Frontier Bank has announced that by using MeridianLink’s automated online system for new accounts and deposits, it has reached $1,000,000 in deposits via the system just one month after implementation. It has been reported that about half of these new online accounts were established by existing Frontier Bank customers and the other half was set up by consumers who were new to the bank.
Cindy Melland, executive vice president of sales and marketing for Frontier Bank, said: Over 75% of these online accounts represent deposits and money that’s new to the bank. We wanted to attract both new consumers and serve and retain our current customers by offering the convenience of establishing new accounts online via our website.
Jeff Lewis, executive vice president of retail banking, said: We’ve been very satisfied and pleased with everyone at MeridianLink that we’ve had contact with — from top to bottom. Gary Hess, president of RTE Financial Services, who first contacted us about attending a webinar to learn more about web-based automated financial services, was excellent. He really impressed us with his level of professionalism on every level.
We thought MeridianLink had significant advantages over the other two systems we considered. Overall, we thought the system was designed better. It was more logical and intuitive, and the customer interface provided a much more positive customer experience. We also liked the customized features it offered, he added.
California-based MeridianLink offers web-based credit reporting, lending, and new membership/deposit opening technologies.
