Five Star Bank Launches New Digital Banking Platform for Businesses and Consumers
Major Upgrade Leverages Latest Technology to Enhance Digital Banking Experience
Five Star Bank has completed the multi-phase launch of a new online and mobile platform—Five Star Bank Digital Banking.
“Now more than ever, consumers and businesses need the ability to do their banking anywhere anytime, and to see a comprehensive up-to-the-minute picture of their financial situation in one place,” said Marty Birmingham, President and CEO of Five Star Bank. “Our new digital platform represents a major upgrade from the previous platform, leveraging the latest technology to provide a range of new features and financial tools that significantly enhance the digital banking experience for businesses and individuals.”
The new Five Star Bank Digital Banking platform provides a single dashboard to make payments, deposits, transfer and send money, create budgets, set financial goals, and easily integrate external investment, loan, and other transactional accounts.
The new platform has been in development for 18 months.
The launch is particularly timely and beneficial in light of the coronavirus pandemic. Consumers can access a comprehensive financial tool to do all their banking from home. Business owners and employees who may be working remotely can also access powerful financial tools to help with daily finances.
Features for Personal Banking Customers
Individuals are able to manage personal finances easily and conveniently on any device 24/7.
- Manage My Bills: A single dashboard allows bill payment, weekly or monthly “forecasts” of upcoming bills, scheduled and pending payments and reminders that can be set up to help manage payments.
- Send Money: A quick and easy way to send money to others that requires only the recipient’s phone number or email address. There is no fee from Five Star Bank to use this feature.
- Personal Financial Tools: A comprehensive personal financial management tool that can help you budget, set goals and understand your full financial picture. Add all financial accounts including Five Star accounts, external accounts from other financial institutions, credit cards, loans, and investments, to see your overall financial situation. View charts depicting key financial measurements, such as debt, cash flow, spending, and trends.
- CardSwap®: One place to manage your Five Star Bank credit or debit cards that are on file for automatic payments to pay for various subscriptions, streaming services or e-commerce merchants. Never worry about your service being stopped or discontinued due to an expired card or a card number changing.
- Additional convenient anytime anywhere functions:
- Securely transfer funds between Five Star Bank accounts and accounts from other institutions.
- Deposit checks with mobile check deposit. Snap photos of checks for deposit and immediately see them processing in your account.
- Get in touch with Five Star Bank by sending and receiving secure messages in your Digital Banking inbox.
- Access branch hours and location information.
Features for Business Customers
The Enhanced Business Dashboard for large corporations and small businesses makes the digital banking experience easy and the same across desktop and mobile devices.
- Do all your banking anytime, anywhere, from your desktop or from your phone on the go.
- Manage Automated Clearing House (ACH) payments for disbursements, receipts, and payroll.
- Initiate wire transfers, including for future dates, from any mobile device.
- Establish a corporate policy to help define and manage user roles. Control user permissions and limits including unlocking users, creating new and editing existing roles, as your business changes.
- Get standard and customizable reports including wire and general digital banking activity.
Five Star Bank Digital Banking replaces the previous NetTeller and AirTeller applications.
Implementing the Major Upgrade
The major upgrade has been implemented in a multi-phased approach to ensure that personal service and support is provided for customers moving to the new platform.
Customers have been notified of the transition in a series of emails and mailings including what to expect and when, how to download the new app, and how to access in-depth information for consumers and businesses including tutorials, comprehensive user guides, and FAQs on the Five Star Bank web site.
During the development phase, the Bank assembled a large project team with representatives from across the organization who met weekly and hosted business and consumer focus groups to collect valuable feedback on the platform’s layout, design, and capabilities. Testing included one-on-one on-boarding sessions with complex business clients to learn from their experience and understand potential customer questions and feedback. Employees also participated in a pilot prior to the launch.
Next Steps
Over the summer, Five Star also will be launching a new digital account opening platform that will allow consumers and businesses to open most kinds of deposit accounts via any device.
“Eighteen months ago, we embarked on an effort to provide customers with a true omni-channel experience,” said Joe Dugan, CXO and GTM officer. “That meant offering digital capabilities that would ultimately allow customers to complete any non-cash activity, as preferred, to complement the exceptional service our colleagues already provide at the branch or by phone. Our Five Star Digital Bank platform and our digital deposit account opening capabilities are a significant step forward toward fulfilling our omni-channel aspirations.”
Maybe you're the talking type.
Get a hold of us here.
