Prelim Named Best-in-Class in ABA’s 2024 Digital Account Opening Product Assessment
We’re thrilled to announce that Prelim has been recognized as the best-in-class solution in the American Bankers Association’s (ABA) 2024 Digital Account Opening Product Assessment, conducted in partnership with Datos Insights. Prelim’s outstanding performance in live deployments, contracts sold in 2023, customer feedback, and integrations with core and financial applications has solidified its position as a leader in the digital onboarding space.
“Prelim’s innovative approach and commitment to excellence have truly transformed our digital onboarding experience. Their modern and open architecture allows us to connect to any system and partner with Prelim’s highly responsive team to tailor a solution that works for our current technology infrastructure, processes, and compliance/risk requirements.” – Head of Digital, $38bn Regional Publicly Traded Bank
What Does the Assessment Measure?
The ABA’s initiative, conducted in collaboration with Datos Insights, aimed to research and evaluate digital account opening products, providing valuable insights to support member banks’ vendor and product decisions. The assessment highlighted trends and challenges in the digital account opening space, emphasizing the importance of seamless and intuitive processes to remain competitive.
How Did Prelim Fare? Insights from the Assessment
In the evaluation, Prelim showcased remarkable performance across various criteria:
- Tailored Solutions: Crafted by former top bankers and Silicon Valley engineers, Prelim’s product suite aligns with diverse offerings of financial institutions, requiring minimal engineering or IT resources.
- Diverse Portfolio: With a robust selection of 100 solutions since its inception in 2017, Prelim caters to the unique needs of banks and credit unions, including Consumer and Business Account Onboarding and Treasury Services Onboarding.
- Regional/Community Bank Focus: With a presence across 41 U.S. banks, including Banc of California, City National Bank of Florida, and Metropolitan Commercial Bank, Prelim demonstrates relevance and appeal to a diverse clientele.
- Innovative Approach: Prelim’s highly configurable low-code/no-code infrastructure facilitates seamless integration capabilities and robust fraud mitigation features, distinguishing it in the market.
- Core Integrations: Offering turnkey integrations to major cores such as Fiserv, FIS, Jack Henry, Finastra, and CSI, Prelim’s solution stands out as the preferred choice for banks seeking comprehensive solutions.
- Relationship-Based Approach: Prelim’s dedication to customer service excellence is evident through dedicated technical support resources and prompt response times, ensuring a smooth experience for clients.
In Summary
Prelim’s top ranking in the ABA’s Digital Account Opening Product Assessment underscores its commitment to innovation and excellence in providing digital onboarding solutions. As the banking industry evolves, Prelim remains at the forefront, empowering financial institutions to thrive in the digital age.
