For Immediate Release
October 16, 2017
ABA Media Contact: Sarah Grano
(202) 663-5470
Email: sgrano@aba.com​
Follow us on Twitter: @ABABankers

Zenmonics Media Contact:Tracey Dunlap
(484)356-6861
Email: tracey.dunlap@zenmonics.com

ABA Endorses Zenmonics Digital Account Opening Technology

​WASHINGTON — Americans use online and mobile banking more than any other channel to manage their bank accounts, according to a recent survey by Morning Consult. The next step toward a fully digital experience for bank customers is the ability to open a new account online, also known as digital account opening. Due to regulatory requirements, few banks are currently equipped to allow a new customer to open, fund and operationalize a new account through a purely digital channel. To help banks meet this challenge, ABA has endorsed Zenmonics’ channelUnited, a digital account opening technology that allows bank customers to open new accounts in minutes using a smartphone, tablet or computer. Zenmonics is an exhibitor at ABA’s Annual Convention.
 
“Increasingly, customers have the expectation that they can begin a banking relationship online in minutes, and they expect the user experience to be as good as when they make purchases online,” said Christopher McClinton, senior vice president, Endorsed Solutions at ABA. “That’s a tall order for banks that have account opening procedures to follow. Zenmonics has cracked that code.”
 
Of the nine companies ABA evaluated, Zenmonics’ technology provided the best user experience, which is consistent across all platforms and allows customers to apply, open, and fund accounts in minutes. It also meets banks’ stringent account opening requirements, including know-your-customer and other Bank Secrecy Act rules.
 
“We are extremely honored to be endorsed by ABA for our account opening solution. Many institutions today still cannot open accounts completely online or on a mobile device,” said Chris Siemasko, chief product officer at Zenmonics. “We are excited to bring our mobile optimized solution to the ABA member bank community.”
 
Other features of Zenmonics’ channelUnited include “Express Path” for existing customers, auto-fill capability for customer convenience, real-time core integration and online banking enrollment.
 
Zenmonics, headquartered in Charlotte, N.C., was founded in 2007. The company has more than 200 employees and was recently named to IDC Financial Insights’ annual ranking of the top 100 leading hardware, software and service providers to the financial services industry.
 
For more information about ABA’s endorsement of Zenmonics’ channelUnited, visit: aba.com/zenmonics.
 
The American Bankers Association is the voice of the nation’s $17 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $13 trillion in deposits and extend more than $9 trillion in loans.
 
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