Online Account Opening

Top 5 Best Practices to Master Online Account Opening

Doug Forinash

3 min read

In today's fast-paced digital world where consumers expect instantaneous results, financial institutions must stay ahead of the curve to meet customers' expectations and attract new customers. One of the key areas of focus is the online account opening process, which serves as a critical touchpoint for potential customers. A seamless and user-friendly online account opening experience can make all the difference in gaining and retaining customers. In this article, we'll explore the top five best practices for banks and credit unions to optimize their online account opening process and maximize customer acquisition.

1. Seamless Online Experience:

Customers crave a hassle-free experience when opening an account online. Financial institutions must prioritize simplicity and ease of use by guiding customers through each step with minimal friction or complexity. A well-designed and intuitive online account opening platform can instill confidence in customers, making them more likely to complete the application process.

2. Mobile Optimization:

As mobile usage continues to soar, it is crucial for banks and credit unions to optimize their online account opening platforms for mobile devices. According to, 74.1% of first-time checking account holders (15-24 years old) primarily use mobile banking compared to a mere 6.3% who prefer traditional PC-based online banking. This trend continues throughout the age groups with 69.4% of 25-34 year olds preferring mobile banking compared to 12.9% who prefer traditional online banking. Of the age groups surveyed, every single age group preferred mobile banking over traditional online banking with the only exception being 65+ customers. The data is clear, consumers prefer the convenience of using their smartphones and tablets over a traditional PC, so ensuring a seamless mobile experience is essential for attracting tech-savvy clients where they are and staying competitive in the market.

3. Quick Follow Up:

Promptly processing new account applications is vital for creating a positive customer experience. A mobile-first account opening platform must be capable of efficiently handling applications and triggering rapid follow-ups from live bank representatives. Once an application has been submitted, it’s highly encouraged to send an SMS follow-up message within the first few minutes after the application has been submitted to ease the customer’s mind that their application went through successfully. From there, a representative should follow-up with the customer by phone within the first 24 hours to further build trust and begin to build the relationship.

4. Cross Sell Opportunities:

With the goal being to create life-long customers, the online account opening experience needs to have cross-selling features built-in to help guide consumers toward applicable add-on products that fit their needs. By cross selling add-on products from the beginning, financial institutions have a better chance of creating customers for life.

5. Transparent Communication:

Whether a consumer is experiencing your brand for the first time via online account opening or is a longtime customer, there needs to be transparent, fast, and open lines of communication. Digital-only experiences are not enough and many consumers need the personal touch of knowing where their application stands and who to talk to for information.
As financial institutions embrace the digital revolution, optimizing the online account opening process becomes imperative for success. By following these top five best practices, banks and credit unions can create a seamless, mobile-friendly, and customer-centric experience that makes it easy for consumers to do business with a financial institution online.
At Bundlefi, we have worked with hundreds of financial institutions to drive new account growth through online account opening. If making the most of your online and mobile application process is important to you, we can help. Schedule your free consultation today and let’s talk!

Bundlefi is your trusted partner in revolutionizing the way community financial institutions succeed in the digital age. We understand the unique challenges and opportunities that arise in the financial industry, and we are here to empower your institution with our full-service marketing agency and proprietary lead-gen platform solutions.

Bundlefi acts as an extension of their marketing team, providing a range of services that save time and money, drive new account growth, and highlight their brand. We offer a proprietary consumer platform experience, fully customizable marketing campaigns tailored to your brand, and expertise in targeting the right audience for optimal results.

Bundlefi offers a comprehensive suite of marketing services, including branding, paid search advertising, digital creative services, content marketing, social media advertising, email marketing, and more. We provide a full-service marketing agency experience to help banks and credit unions effectively promote their brand

Bundlefi harnesses the power of Web 3.0 principles to create personalized and immersive experiences for customers. We utilize AI-driven algorithms to analyze data, gain valuable insights, and make data-informed marketing decisions. This enables us to deliver targeted campaigns that drive engagement and conversion rates.

Absolutely! Bundlefi streamlines marketing operations, automates processes, and optimizes workflows to save your institution valuable time and resources. By maximizing efficiency and reducing costs, we help you achieve your marketing objectives while staying within budget.

Yes, Bundlefi is a one-stop shop for all your bank or credit union marketing needs. From strategy development and branding to campaign execution and performance tracking, we provide end-to-end marketing solutions to ensure a cohesive and impactful marketing presence.

The Bundlefi team’s data-driven approach and expertise in the financial industry enable us to craft compelling marketing campaigns that highlight your institution's unique value proposition. We help you differentiate yourself, attract customers, and position your brand as a trusted leader in your market.

Absolutely! The Bundlefi team does not believe in a one size fits all approach and fully understands the importance of customization for effective marketing. We offer fully customizable experiences tailored to your brand, audience, and specific goals. Our platform allows you to personalize campaigns, landing pages, and digital assets to reflect your institution's personality and values, creating a unique and engaging customer experience.

Bundlefi provides comprehensive analytics and conversion tracking capabilities to measure the success of your marketing campaigns. We track key metrics, user behavior, and campaign performance to gain valuable insights. This data allows us to continually optimize your strategies and achieve better results over time.

Getting started with Bundlefi is easy! Book a meeting with a Bundlefi Team Member. We'll guide you through the process, understand your specific needs, and create a tailored marketing solution that aligns with your institution's goals.

Bundlefi recommends Google Ads search campaigns to target users actively searching for financial institutions in your local market. This tactic allows us to advertise to prospects who are most likely to convert and become your next loyal account holder.

Google Retargeting Campaigns are designed to reconnect with users who have previously visited your website. By showing relevant ads across different devices, retargeting helps keep your brand top of mind as prospects explore various institution options before making a decision.

Programmatic Digital Display involves automated bidding on real-time display advertising inventory. Bundlefi targets digital display ads to your prospects' favorite websites, utilizing factors such as household location, search behaviors, visits to competitors, and more to reach the right customer types in the most relevant context.

Advertising through platforms like Facebook and Instagram can generate targeted traffic and warm leads for your website. Bundlefi's strategy is designed to drive more traffic and increase awareness. By targeting users within a specific geographic area and serving ads to users with relevant interests, we help generate brand awareness and increase conversions.

Bundlefi’s team of experts continually optimize campaigns to enhance ad performance. We update ad copy, optimize ad extensions, optimize retargeting campaigns, optimize device bids, expand keywords, evaluate and exclude irrelevant search terms, and optimize keyword bids to improve relevancy and click-through rates.

Bundlefi recommends tracking completed applications, contact form submissions, and phone calls to measure conversions. By implementing a Google Tag Manager code on your site, we can set up tracking for these events and provide insights into your campaign's effectiveness.

Bundlefi understands that markets are crowded and continually changing. We offer various digital marketing solutions that can expand your digital footprint based on your goals and real-time activity. Whether you need top-of-the-funnel leads or want to target specific stages of the sales funnel, we have the expertise to help you achieve your objectives.

Bundlefi understands the importance of being visible in search engine results and has the best team in the industry to do so. We leverage our SEO knowledge to optimize your website for hyper-local keywords and implement other SEO strategies. Our process ensures that when people search for specific terms related to your institution, your website captures organic search traffic, encouraging prospects to take action.