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In a recent webinar “The Future of Account Onboarding” hosted by CBA, we sat down with Alex Giddens, Onboarding Product Leader at Varo Bank, and Eric Gossky, Director of Digital Strategy and Services at BCU, to discuss how their organizations are reimagining digital onboarding to drive meaningful, revenue-driving customer engagement from day one.
On the surface, Varo Bank and BCU may seem to be very different financial institutions. One is a neo-bank optimizing for app-driven growth and the other a credit union with deep community ties. Yet, both executives agreed that delivering an exceptional digital experience is core to their growth strategy.
Alex Giddens: “We don’t have branches, so it’s really important we find ways to digitally meet every customer’s needs.”
Eric Goscicki: “We can’t always physically be everywhere our members are, so it’s important our digital experience delivers the same service you’d get in-branch.”
Alex and Eric also agreed that tracking new digital accounts acquired isn’t worth much on its own as a growth metric anymore. The true battle for primacy is fought and won throughout an exceptional digital account onboarding journey.
Below, we’ve outlined some key takeaways from this insightful conversation, which was moderated by our Chief Marketing Officer, Crystal Gopman.
Measuring account onboarding - through a digital lens
Unlike traditional in-branch accounts, digital accounts aren’t always funded on day one, requiring banks to redefine what early success looks like. Both Varo and BCU have expanded beyond account funding to track indicators that better reflect digital account primacy, including:
- Direct deposit capture
- Digital engagement including app/online registration and repeat logins
- Recurring bills
- Card activation & mobile wallet adds
Alex Giddens: “By anticipating customer needs and helping them with the ‘little things’ - like switching their direct deposit and bills - we make the move to a digital bank feel effortless.”
Furthermore, to reflect the realities of a digital onboarding experience, Alex and Eric discuss how both Varo and BCU have extended their onboarding journey - and associated measurement window - to the first 30 days. For the majority of customers, intent for primacy develops over the course of weeks as the FI earns their trust through meaningful digital touchpoints.
Eric Goscicki: “Activation isn’t one metric. We watch deposits in the first 30–60 days, debit card activation, external account set-up, and digital registration to know a member is truly engaged.”
Direct deposit is still the primacy unlock
Both BCU and Varo Bank agree that capturing a direct deposit is the prevailing factor in moving a customer from an “open account” to a viable active customer. To achieve this goal, Alex and Eric agree that customer convenience is key and emphasized 2 strategies:
- Introduce a deposit switch early in the onboarding journey. By surfacing direct deposit switching upfront, they capture customers at the time of intent - at account onboarding. For customers who do not take action, introducing deposit switching early is still valuable, as it plants a seed that can be reinforced later through sequenced campaigns.
- Prioritize removing unnecessary friction. Rather than relying on customers to remember payroll logins, both Varo and BCU have implemented Pinwheel’s PreMatch experience, which automatically identifies payroll providers.
Eric Goscicki: “PreMatch’s authentication technology was very important to us. We knew most people would not remember their payroll credentials and would otherwise abandon the flow.”
Alex Giddens: “Upgrading to Pre-Match drove a 23% lift in direct deposit switches. We introduce it early, and if someone abandons, we often see them return and make a switch later.”
The role of experimentation, personalization and pragmatic AI
Beyond optimizing for frictionless digital experiences, Alex and Eric discuss what’s at the top of Varo Bank and BCU’s digital innovation agenda for 2026:
- Experimentation. “Every cohort is a chance to experiment. Try things, learn fast, and adjust,” noted Alex from Varo. Eric echoed this, emphasizing the importance of piloting, measuring, and iterating quickly.
- Personalization. Eric discusses BCU’s evolution from generic outreach to milestone and life-event–based personalization across channels to ensure communications feel timely and relevant.
- Pragmatic AI. Both Alex and Eric confirm their institutions are investing in AI to drive personalization in real time, whether it be through actioning data or introducing a gated AI chatbot to manage inquiries responsibly without sacrificing accuracy.
Together, these approaches highlight how two very different institutions are evolving their digital presence to deepen relationships and build long-term customer loyalty.
Want to learn more?
This recap only scratches the surface. The full conversation dives into product experiences, authentication designs, and implementation approaches in practical detail.
Watch the full webinar to hear directly from Varo Bank, BCU and Pinwheel about their approaches for shaping the future of account onboarding.
