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Simplify your customer's financial life by offering an online switch kit. The switch kit is the process by which a customer can transfer all of his financial relationships from other financial institutions over to your financial institution. uMonitor switch kit offers this service to new and existing customers. It can be available inside or outside your internet banking service. It can be fully integrated in your new account opening process, uOpen & uFund®, or may be available as a stand alone service, applicable online, in the branch and the call center.
Your customer can switch any direct deposit transactions, such as payroll, pension, and/or social security payments going into his other financial institution accounts over to his account at your financial institution. He can also transfer any payments that are automatically deducted from his other account, such as utility, telephone, mortgage, or any other recurring deduction over to his account at your financial institution. Through uSwitch®, he can also close any other financial accounts either by using the online switch kit himself or with the help from your branch or call center staff. The customer can also switch loan accounts or credit card debt.
In Addition, if you wish, you can let the customer 'link' the outside financial institution accounts to his new account and allow him to transfer money from that account into his new account at your institution on an ongoing basis, with uTransfer®, which is very helpful in account transitions. You can also setup promotional offers to encourage switching.
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