Situation

Inconsistent onboarding processes and low engagement with new checking account customers were driving high attrition rates for new accounts. Recent JD Power rankings highlighted this as a significant opportunity for improvement.

Team Engagement Strategy

A team of seven employees was assembled and equipped with Rapid Action, a toolkit for small problem solving teams.

Rapid Action Project Charter

How can we improve the onboarding experience of new checking customers to increase product penetration and reduce account closures?

Sample of Solutions Implemented

• Created an onboarding checklist and updated the welcome kit which increased customer understanding of product features as well as JD Power ratings.
• Customized the direct deposit enrollment process which removed barriers to engagement and decreased account closures.
• Developed new tracking codes in an existing system to document onboarding activities which allowed for monthly reporting and targeted customer follow-ups.