• Slice of Finance
  • Posts
  • Blend Partners with Astra to Enhance Digital Onboarding for Deposit Accounts

Blend Partners with Astra to Enhance Digital Onboarding for Deposit Accounts

Author

Slice of Finance Team
12 Aug

Key Highlights:

  • Seamless onboarding: Partnership introduces instant debit card funding, simplifying account opening.

  • Increased account activation: Improved onboarding flow leads to a 30% increase in account activations.

  • Reduced abandonment: Multiple funding options reduce drop-offs during the application process.

Source (Business Wire)

Notable Quote:

❝

“Today consumers expect a frictionless, real-time product experience, and that starts at account opening. Financial institutions and fintechs need to deliver a best-in-class onboarding flow to win new customers – instant account funding is the perfect solution.”

Gil Akos, Co-Founder and CEO at Astra

Our Take:

Blend's strategic partnership with Astra signifies a significant shift towards more consumer-friendly digital banking solutions. By integrating instant debit card funding into the onboarding process, financial institutions can expect not only faster account activations but also a marked reduction in abandonment rates. This move not only aligns with consumer preferences but also enhances the overall user experience, setting a new standard in digital banking onboarding.