Temenos has announced that MidWestOne Bank, a community bank headquartered in Iowa, has gone live with Temenos Digital Onboarding as SaaS on Amazon Web Services (AWS). The SaaS solution was implemented for MidWestOne by RCG Global Services, a Temenos Delivery Partner in North America.
This strategic move enables MidWestOne to enhance customer acquisition and retention through digital channels on a resilient, scalable platform. MidWestOne is using Temenos Digital Onboarding to streamline their customer onboarding process in order to meet customer expectations for fast, frictionless digital experiences, while enhancing operational efficiency.
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Using Temenos Digital for onboarding, MidWestOne has seen significant improvement in speed, performance and customer engagement
Customers can now complete an application in an average of 2 minutes. Almost two-thirds of new digital account openings now take place via a mobile device and the bank reports an impressive conversion rate significantly surpassing the industry average.
Heather DeStefano, Senior Vice President of Digital Innovation, MidWestOne Bank, commented: “Our implementation of Temenos Digital Onboarding for retail depository products has resulted in a significant increase in both our digital customer satisfaction rates and the percentage of accounts opened digitally. We plan to continue our collaboration with both Temenos and RCG Global Services to further enhance our Temenos Digital account opening experience in support of our commitment to deliver exceptional customer experiences. With Temenos Digital, we are able to maintain complete control of our digital journey which gives us an edge to attract and retain customers and grow our business through digital channels in a highly competitive banking market.”
Rodrigo Silva, President, Americas, Temenos, said: “We are proud to be powering MidWestOne Bank to elevate the digital experience for its customers. With a banking platform tailored to the needs of US banks and proven SaaS delivery, Temenos is geared to deliver tangible business value to our clients, and we continue to invest to make our offerings the most compelling in the market.”
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