PlainsCapital Bank Powers Fast Track Small Business Onboarding with Terafina

FREMONT, Calif.–(BUSINESS WIRE)–#communitybanksTerafina
Inc
., an omnichannel sales platform for community banks and credit
unions, is announcing today the launch of its newest solution to fast
track small business onboarding at PlainsCapital
Bank
. Terafina’s rapidly growing client base continues to innovative
in a fast-changing competitive digital landscape.


In a 2017 small business study released by Raddon
as highlighted in this Financial
Brand article
, “51% of [small business] respondents that currently
did not use a community institution for their primary or secondary
institution were ‘extremely’ or ‘very likely’ to consider using one in
the future.” If community banks and credit unions do not move quickly to
engage with SMBs digitally, they risk losing out on huge opportunities
to competitively serve small businesses in a meaningful, scalable, and
sustainable way.

In addition, the study shows that “25% [of respondents] indicated they
would not use a community bank because their current institution (likely
a major bank) offered a better business product menu.” PlainsCapital
Bank
, based in Dallas, TX with $9.7B in total assets, understands
the importance of diversifying its offerings and has taken considerable
steps with Terafina’s newest fast track solution for small business
onboarding to acquire and retain small business customers while removing
friction from the overall onboarding experience. Ashwin Goyal, President
& COO of Terafina, stated that “PlainsCapital is making all the right
strategic moves as it continues to grow and better define its product
offerings. They are designing a compelling small business banking
strategy that helps them stand out from others, while taking full
advantage of the overlap with their existing retail capabilities and
leveraging their trusted community footprint throughout Texas.”

PlainsCapital Bank has already begun to experience the added benefits of
this new solution that reduces friction and unifies the experience. Matt
Adkins, Chief of Retail Banking Services for PlainsCapital, affirmed
that “we have been able to significantly improve the onboarding
experience while penetrating the retail segment with small business
products. This unique capability has added great value to our customers’
experience.”

Terafina is excited to be selected to present a live
demo
this week at Digital
Banking on Thursday, June 20th in Austin, TX
where we will showcase
our newest fast track small business offering. We hope to see you there.

About PlainsCapital Bank

PlainsCapital
Bank was founded in 1988 and is the fifth-largest bank in Texas based on
deposit market share. They offer a diverse range of services including
commercial banking, treasury management, private banking, and wealth
management, as well as consumer banking.

About Terafina

Terafina (www.terafinainc.com)
based in Fremont, CA provides omnichannel digital sales solutions for
community banks and credit unions. Terafina’s solution is simple, secure
and seamless and helps turn online and mobile engines into strong
conversion tools. Terafina drives growth by strategically leveraging and
positioning your product offerings while building a collaborative and
seamless experience across all your channels – online, branches, and
call centers.

About Digital Banking

American Banker, Digital Banking is a demo-based conference for
innovative startups and established companies in the fields of banking
and financial technology. Held in Austin, TX Digital Banking is the
leading and largest digital banking event in the industry, covering
innovation in financial services for consumer and commercial customers
around mobile, digital, AI, payments, data, blockchain, CX, disruption,
innovation, privacy, API, channel and technology strategies.

Contacts

Jason Hillner
jason.hillner@terafinainc.com

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