Finzly, a fintech provider of modern banking applications for payments, foreign exchange, trade finance and digital account opening, announced today that The Middlefield Banking Company has selected Finzly’s contactless digital account opening (DAO) solution, enabling the bank to gain back-office operational efficiencies that support an enhanced customer experience.

Finzly’s DAO solution enables Middlefield Bank to digitize the entire account opening process and achieve complete automation, as well as co-browsing support, customized onboarding workflows, and analytics to capture customer pain points. The DAO solution provides the bank’s customers with flexibility to open up to 13 account types within minutes, and offers multilevel authentication, external account funding, debit card order and online banking enrollment. With DAO, the bank can combat the latest fraud threats using AI-enabled customer ID verification and “selfie” validation, as well as out-of-wallet questions as needed. 

“At Middlefield Bank, we pride ourselves in providing a quality banking experience for our customers,” said Thomas G. Caldwell, President and CEO, Middlefield Bank. “Finzly’s fully automated DAO solution will further these efforts, giving our customers a modern, flexible approach to opening multiple accounts within minutes. By eliminating manual processing and driving operational efficiencies using DAO, we can continue to deliver a modern banking experience to our valuable customers.”

Using core-agnostic open APIs, Finzly DAO enables the addition or replacement of third-party providers within the process. Accessing the solution via the bank portal, Middlefield Bank can review the status of applications, request more information from customers and intervene in cases where applicants have not provided complete information.

“Finzly is excited to help Middlefield Bank drive a more secure, seamless and modern banking experience through a single digital solution for both consumer and business account opening,” said Booshan Rengachari, founder and CEO, Finzly. “With Finzly’s DAO solution, the bank will have continuous access to the best, most up-to-date offerings available on the market while tapping greater levels of customer-facing flexibility and full automation capabilities to help reduce application abandonment rates.”