Making family banking easier

Sparebanken Sør uses Tieto Banktech’s Family Banking solution to let parents establish banking relationships for their children directly through mobile banking.

Family Banking

Onboarding customers at an early age can lay the foundation for a long-term relationship between a bank and the individual. With Family Banking, parents can establish banking relationships and accounts for their children through mobile or online banking, without visiting a branch.

The challenge

Build relationships from an early age

Attracting new customers and retaining them over time is an important factor in a bank’s profitability.

Onboarding children creates an opportunity to establish customer relationships at an early age. At the same time, banks need to make managing family finances convenient for parents and remove unnecessary friction from the process.

The solution

Self-service onboarding for children

Tieto Banktech’s Family Banking solution enables parents to establish banking relationships and accounts for their children directly through mobile or online banking.

The self-service process removes the need to visit a branch and automatically handles the necessary consent between parents.

The solution was developed with regulatory requirements and Web Content Accessibility Guidelines (WCAG) 2.1 in mind.

The benefits

Make family banking more convenient

Family Banking helps banks strengthen customer relationships while making everyday banking easier for families.

1

Simpler onboarding

Parents can establish a banking relationship for their children themselves through mobile banking, without needing to visit a branch.
2

Less friction for families

The solution adds convenience to managing family finances, including automatically handling the necessary consent between parents.
3

Long-term relationships

Onboarding customers at an early age gives banks an opportunity to establish relationships that can develop over time.

Customer perspective

Finally, our customers can establish a banking relationship with Sparebanken Sør for their children all by themselves! They can do this easily using the mobile banking app. We have a robust and user-friendly solution, and feedback from our customers tells us that it is easy and intuitive to use.

Ole Martin Kro, Senior Business Developer, Sparebanken Sør

Family Banking