How First National Bank of Las Animas Transformed Digital Account Opening

The First National Bank of Las Animas (FNBLA)

In this case study, learn how First National Bank of Las Animas launched their digital transformation while strengthening their operations by:

• Onboarding customers with mobile-first applications and real-time funding
• Streamlining their back-office with instant identity verification
• Deploying end-to-end dataflow to their core, IBT Apps, for automated account creation

The First National Bank of Las Animas (FNBLA), a trusted name in Colorado's banking landscape since 1901, has always been committed to supporting local communities. With a focus on ranching, farming, and business banking, FNBLA deeply understands the challenges its customers face and aims to support them every step of the way. But with changing customer expectations and a significant drop in foot traffic due to the COVID-19 pandemic, FNBLA knew it was time to evolve their services digitally. The solution? Alkami's digital account opening platform.

Meeting Customers Where They Are: From Office to Online

The shift to digital was driven by a need to continue delivering the personalized experience FNBLA customers value-even in a remote setting. FNBLA needed a solution that could provide a consistent, comfortable experience for customers whether they were at home or in the bank's branches. Their primary goals were to accelerate customer acquisition, reduce the time required for new account openings, and offer a seamless online experience.

By partnering with Alkami, FNBLA was able to bring digital convenience to its customers while retaining the personal touch for which they are known. Before implementing Alkami's solution, opening a new account meant filling out paperwork in the bank office, an experience that could feel cumbersome. Now, customers can open an account digitally from the comfort of their own home-or even in the bank's office using self-service iPads.

The Benefits of Digital Transformation

The impact of Alkami's platform has been tremendous. By introducing ID Scan for data pre-population and leveraging Plaid for secure bank account authentication, the bank saw a 75% reduction in application completion time-allowing customers to complete the process in under five minutes. Additionally, the new platform allows customers to easily open an account using either a mobile device or an in-office QR code, offering a seamless transition between physical and digital experiences.

For FNBLA, efficiency wasn't the only gain. The platform also helped transform their operations. Previously, bank staff processed all applications manually, which involved verifying identities in-office and relying heavily on handwritten applications. Thanks to Alkami, staff can now manage applications using a cloud-based dashboard that integrates identity verification in real-time, cutting the processing time by 67%. Not only did this new system streamline their work, but it also improved accuracy and reduced the risk of errors.

Keeping the Human Touch in a Digital World

Although FNBLA made impressive strides with digital transformation, they didn't want to lose the personal experience their customers cherished. Recognizing that banking is often built on relationships, they designed their digital offerings to still feel personal. For those who visit an office, bank staff can assist in opening accounts together with customers, ensuring that in-person interactions remain as strong as ever.

The flexibility of Alkami's platform means that customers can choose how they want to interact with the bank-whether it's a fully remote experience, self-service in the office, or with the assistance of a banker. This flexibility allowed FNBLA to adapt to the needs of its diverse customer base while continuing to strengthen community ties.

Moving Towards a Digital Future

With a solid foundation in place, FNBLA is ready to embrace the future of banking. Integrations with IBT Apps allow for easy onboarding of new customers, encouraging them to download the mobile app for daily financial management once their accounts are created. In the first month after implementing Alkami's solution, FNBLA saw a 34% increase in applications-a clear testament to the success of the digital platform.

By partnering with Alkami, First National Bank of Las Animas has shown that community banks can effectively combine human-centric service with innovative technology. Whether a customer prefers to visit the branch or open an account on their smartphone, FNBLA is ensuring that everyone enjoys the same level of service and convenience-all while keeping the human touch that makes them a trusted part of their community.