MidWestOne Bank taps Temenos for digital onboarding solution

Partnership: MidWestOne Bank, based in Iowa City, has partnered with Temenos to implement its Digital Onboarding solution to improve customer acquisition and retention through digital channels.
Technology: The solution is deployed as Software-as-a-Service (SaaS) on Amazon Web Services (AWS), managed by RCG Global Services, Temenos’ North America delivery partner.
Features: The solution includes data collection, e-signature, and workflow management tools, allowing customers to open accounts in approximately two minutes.
Performance: Temenos reports that previous users have seen a 52% faster onboarding, 68% higher cross-sell rate, and 24% higher customer-to-employee ratio.
Impact: MidWestOne Bank, which serves 140,000 customers across several US states, reports a significant increase in digital customer satisfaction and the percentage of accounts opened digitally.
Future Plans: The bank plans to continue enhancing the account opening experience with Temenos.