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Prisma Campaigns introduces seamless Direct Deposit Switch feature for Credit Unions

New solution simplifies member experience, drives engagement, and strengthens PFI relationships

MIAMI, FL (October 25, 2024) — Prisma Campaigns, a leading marketing automation platform for financial institutions, is excited to announce the launch of its new Direct Deposit Switch (DDS) feature. This innovative solution simplifies the process for credit union members to transfer their direct deposits, addressing long-standing frustrations with slow, outdated systems and enhancing member engagement.

Direct deposit is a cornerstone of a member’s relationship with their financial institution. Data shows that 87% of consumers consider their direct deposit institution their primary financial institution (PFI). However, credit unions currently capture only 10% of these relationships, largely due to cumbersome switching processes that deter members. As larger banks and fintechs offer faster, digital-first options, credit unions must follow suit to remain competitive.

Prisma Campaigns’ DDS solution makes switching direct deposits faster, easier, and more secure. Instead of waiting through multiple pay cycles or filling out complex forms, members can transfer their direct deposits in just a few clicks—helping credit unions reclaim their PFI status and foster deeper member loyalty.

Key Features and Benefits of the Direct Deposit Switch

Prisma Campaigns’ DDS solution offers a streamlined experience for both members and credit unions:

No Logins or Passwords: Members can authenticate directly through their payroll platform, eliminating the need to create new logins or remember additional passwords.
No Manual Data Entry: The system automatically captures account and routing numbers, reducing the risk of errors and speeding up the process.
Instant Switch: Direct deposits are transferred instantly, without the need to wait 1-2 pay cycles, meeting the expectations of today’s digital-first members.
Enhanced Security: The entire process takes place within a secure, trusted online banking environment, protecting members’ sensitive information.

Delivering Results for Credit Unions

Early adopters of Prisma Campaigns’ DDS feature are seeing significant improvements, including a 30-65% increase in direct deposit enrollment, a 65% reduction in the time to first deposit, and increased member satisfaction. In addition, the solution reduces call center workloads and builds greater trust with members, thanks to enhanced security.

As Mitch Rosembaum, Senior Vice President of Marketing and Digital Services at Credit Union of Colorado, states, “DDS has been a game-changer for us. We are using it for onboarding indirect members, shortening account funding time, and delivering the kind of fast, digital-first experience that younger members expect.”

With this new Direct Deposit Switch solution, powered by Atomic FI, Prisma Campaigns empowers credit unions to offer a seamless, modern member experience that strengthens engagement and drives growth.

For more information about Prisma Campaigns’ DDS solution, visit https://prismacampaigns.com/offer/direct-deposit-switch.

About Prisma Campaigns

Prisma Campaigns is a leading marketing automation provider, designed for financial institutions, and known for its innovative approach to campaign management. The platform offers advanced segmentation, personalization, automated workflows, and now a seamless direct deposit switch solution for credit unions.