leveraging OpenAnywhere™ for maximum business impact

Executive Summary

• The long-term benefits of digital account opening aren’t always the most obvious ones.
• To secure internal buy-in when looking for a new solution, it’s imperative to clearly articulate the operational, financial, and strategic value that the digital channel can deliver.
• You can grow revenue from existing accountholders, reduce back-office costs through automation, and extend growth beyond the branch without adding risk.

For community banks and credit unions operating with limited budgets and staff resources, a modern digital account opening platform is more than a technology investment. It’s a strategic tool for driving growth, improving efficiency, and meeting evolving consumer expectations. A streamlined digital experience can help institutions attract more applicants, increase deposit growth, and improve retention by making it easy for consumers and businesses to open and fund accounts anytime, from any device.

While these benefits are high-visibility wins, the upside extends far deeper. Several lesser-known benefits can create meaningful growth and efficiency gains that directly impact the bottom line.

Here are some key ways OpenAnywhere from Jack Henry^® can enhance your online account opening strategy and deliver the greatest impact:

deepen relationships with current accountholders

Many institutions struggle to deepen relationships with current accountholders, leaving revenue opportunities untapped. When account opening feels transactional rather than relational, accountholders rarely look to their primary institution for high-value services like wealth management or personal loans. Bridging this gap requires shifting from a passive mindset to a proactive financial partner.

How OpenAnywhere Helps: Run targeted campaigns reminding existing accountholders that they can expand their banking relationship directly through your mobile app. This keeps your institution top-of-mind and captures growth organically. Because the platform integrates tightly with Banno™, you can use Banno Marketing™ to trigger personalized offers based on actual behaviors and life events. From there, authenticate using single sign-on (SSO), eliminating login friction and pre-filling the application with their core data, creating a seamless experience. The “shopping cart” feature allows accountholders to bundle products, as well as opt in to e-statements, or request a debit card – all in one session.

drive operational efficiency

Traditional in-branch account opening is notoriously slow, heavily reliant on manual data entry, and prone to application drop-off. When staff and applicants are bogged down by repetitive paperwork, operational costs rise, and the consumer experience suffers.

How OpenAnywhere Helps: Transform the in-branch experience by utilizing OpenAnywhere in lobby kiosks or tablets. By streamlining data capture before a teller even gets involved, in-branch account opening can be reduced to near five minutes, saving significant time for both applicants and staff.

Efficiency also extends to the back office. Because OpenAnywhere integrates in near real-time with Jack Henry core systems, approved accounts are boarded automatically, eliminating duplicate manual data entry. All signed disclosures and forms are securely and automatically exported to the Synergy Document Management™ system. Furthermore, managers have access to insightful dashboards that help pinpoint exactly where applicants drop off in the workflow, allowing for continuous optimization.

With OpenAnywhere, you can also easily access the compliance and forms support you need for regulatory adherence.

extend your footprint beyond the branch

Break free from the physical branch and meet prospects where they are. By utilizing internally owned tablets or the applicant’s device via a scannable QR code – or a combination of both – your staff can instantly open accounts on the spot – whether at community events, college orientations, or during business development visits. This approach protects both the applicant and the institution while providing a modern, intuitive experience.

How OpenAnywhere Helps: This mobile agility and speed are powered by OpenAnywhere’s cloud-native architecture, offering several key advantages like:

• Expedited Funding: Integrations with Plaid and Mastercard Data Connect allow for instant external account verification and quick ACH funding, eliminating the multi-day delay of manual micro-deposits.
• Immediate Onboarding: The system seamlessly transitions approved applicants directly into Banno enrollment, allowing them to set up digital banking credentials and become fully “digital-ready” in a single interaction.
• Omni-Channel “Save and Resume”: If applicants abandon the process, they (or your staff) can retrieve the unique application ID to finish the process later on any device without starting over.

the friction vs. fraud dilemma

Securing the digital onboarding process usually comes with a frustrating tradeoff. Striking the right balance between stopping sophisticated fraud and maintaining a smooth, frictionless user experience is a constant challenge. Traditional verification methods either let spoofers slip through or create so many hoops that legitimate applicants abandon the process entirely.

How OpenAnywhere Helps: OpenAnywhere eliminates this friction without compromising on robust security. Working with industry-leading partners, the platform verifies that a live, legitimate person is applying in real time through:

• Advanced Biometrics (via IDScan.net): Mobile applicants simply snap photos of the front and back of their ID – instantly extracting data via OCR – and take a quick selfie. The system biometrically compares the selfie to the ID photo in near real-time to prevent spoofing.
• Dynamic Identity Decisioning (via Alloy and FIS): Behind the scenes, the platform runs comprehensive CIP/KYC checks, automatically generating an audit trail of risk scores while allowing authorized staff to manage overrides securely.

a catalyst for strategic growth and competitive advantages

Digital account opening is far more than a convenience feature – it’s a growth engine for today’s community and regional financial institutions. By investing in a modern account opening platform, you can deliver a seamless accountholder experience while driving measurable operational efficiencies, reducing costs, accelerating funding, and creating new opportunities for revenue growth and deeper accountholder relationships.