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First United Bank Successfully Rolls Out Finotta to Customers, Sees 120 New Savings Accounts within First 24 Hours

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Since launching on November 8, the bank has already seen ground-breaking results.

Within the first thirty days, Personified digitally increased savings account openings 20X compared to an average physical banking branch. Solely focusing on savings account opportunities, Personified referred on average five savings accounts per hour within the first 24 hours, and a total of 400+ by the end of the first 30 days.

The creation of these new accounts will affect both the bottom and top line of the bank. By driving savings account openings through the digital channel, Personified helped the bank simultaneously increase their share of wallet with their customers and decrease the marketing costs to acquire those accounts by 86% within the first week.

Personified’s consistent 12% user engagement rate in the digital channel in the first 30 days and the ability to link external accounts drives the ability for First United to cross-sell products to their customers solely in their digital channel without the need for a customer to come into a bank branch, increasing share-of-wallet, customer lifetime value, and customer retention.

First United Bank & Trust, a $14 billion privately held bank headquartered in Durant, Oklahoma, began a partnership with Finotta to be the first financial institution to adopt its Personalized Financial Guidance (PFG) technology.

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