Teknowledge Corporation - Tekportal eFinance Suite
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TekPortal Account Opening & Funding
The TekPortal Account Opening and Funding module is a high impact component in the TekPortal eFinance suite with Financial Service Providers (FSP) deploying this application to realize higher new customer closure rates of up to 35% or more. The module allows your customers to open accounts online with options for real-time identity verification, credit scoring, online approval, account assignment, and immediate account funding during the session.
TekPortal Account Opening and Funding is used by small and large FSPs and service providers such as NCR, Metavante, EverBank, Kinecta, Netbank, and others...
| The TekPortal AO & Funding module enables consumers to open and fund their account within a single session,
reducing the online application abandonment rate. It uses the TekPortal Identity module for
real-time user identity and held-away account authority verification to reduce the risk of fraud. |
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Benefits FSP value:
- Increase closure rate on new customers and speed deposits to the financial institution by collapsing the new account sales cycle from days or weeks to minutes.
- Reduce new customer acquisition costs by streamlining the account opening process and displacing check processing.
- Motivate adoption of your lower cost online servicing channel by providing customers with a seamless online experience.
- Enhance your ability to cross-sell to existing customers with an immediate closure mechanism for your CD, money market, and investment account marketing initiatives.
- Higher customer satisfaction through immediate fulfillment and, funding.
- Increase account balances with an ongoing funding capability.
- Lower risk through 100% applicant screening through the major bureaus and eFunds.
End user value:
- One step, electronic and safe process to establishing a relationship with your FSP, including funding an account during the opening process.
- Quick and convenient way to add additional products at your FSP to a customer relationship, with the ability to fund the new product through an ACH from another institution.
Features TekPortal Account Opening and Funding has advanced capability including:
- Intuitive and customizable user interface guides the user through the application process in just minutes. Everything the user sees "feels" like your site.
- Immediate verification and feedback - eliminates incomplete information typical of mail-in forms. User identification and fraud control with interfaces to Equifax, Experian, and eFunds. Pre-filled applications for existing customers, applications can be pre-populated with customer information, further streamlining the account opening process.
- Flexible authentication methods - can be customized on-the-fly based on the user's risk profile. Use one of TekPortal’s authentication processes, interface with the bank's existing online verification procedures, or cache data for offline processing. TekPortal ACH Transfers is integrated as the online funding module allowing real-time transfers from over 20,000 institutions in the US. Service bureau support for multi-bank environments.
- Key CSR and administrator reporting features and functions:
- For Benefit of Processing, allowing the CSR to enter or finish an application on behalf of a customer. Presentation and modification of rejected applications
- Extensive and configurable logging and reporting
- Built on the TekPortal Enterprise server providing key infrastructure for the application
Why Teknowledge for AO&F?
- TekPortal Account Opening and Funding was the first deployed at Lighthouse bank in April 2000 and has been improving every year since. Teknowledge has years of ACH experience, codified in TekPortal ACH Transfers.
- Teknowledge is an established company with over 23 years in business successfully delivering solutions, and supporting our customers.
Additional product information can be downloaded. 
Contact Teknowledge for additional information
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