Digital Onboarding closes Series A funding & welcomes John Philpott & Shawn Ward to Board of Directors

By Pavithra R

Digital Onboarding, a SaaS technology provider offering a fully automated digital engagement platform purpose-built for financial institutions, has announced that the company has closed its Series A investment round.

The funding round included investments from Detroit Venture Partners and other institutional and individual investors. The firm has also announced the joining of John Philpott, a Partner at FINTOP Capital and a founding team member of S1 Corporation, and Shawn Ward, Sr. Managing Director at Jack Henry & Associates, to its Board of Directors.

“Banks have myopically focused on getting new accounts opened to meet aggressive sales targets and are now being forced to contend with the reality that new accounts are worthless if they’re not converted into engaged relationships. The Digital Onboarding platform has been proven to drive the adoption of additional products and services like digital banking, direct deposit, and automatic payments which drive long-term profitability. With the Series A investment and a Board of Directors with deep expertise in developing high-growth, hugely successful fintech companies, we will look forward to accelerating the execution of our product roadmap, scaling Account Management, and expanding sales,” said Ted Brown, CEO, Digital Onboarding.

Digital Onboarding’s platform seamlessly delivers automated email and SMS reminders that link to personalized, step-by-step, digital guides. By aggregating data across financial institutions with similar business objectives, the firm recommends and delivers campaigns that motivate account holders to take action.

“Digital Onboarding’s presence in Detroit is another great win for the FinTech community here. We are excited to back the team as they expand their reach into financial institutions across the country,” said Jared Stasik, Partner, Detroit Venture Partners.

Founded in 201, Digital Onboarding enables banks, credit unions, credit card companies, and investment management firms to create personalized emails, texts, and step-by-step digital guides to optimize customer lifecycle communications at every stage. The FinTech has partnered with over 40 financial institutions, with its current customers representing in aggregate more than $160B in assets.