Bank Transfer Day: Internet Banking Vendor Sees New Members Pour In
Watching by iPad, Robert Broadwell saw about 775 new credit union members open accounts by mid-afternoon Friday and expects that number to reach about 1,000 by the end of the day.
The general manager at PM Systems Corp. says that’s been the average in the past month at the approximately 80 credit unions using the company’s WebFederal online banking system.
Broadwell said before October the average was about 300 to 400 new enrollments a day and that his client base has about 1.3 million members.
“I had to call some meetings to make sure our guys have enough horsepower to handle all this new activity,” Broadwell said of his Chapin, S.C., operation. “We have.”
PM Systems, a subsidiary of S1 Corp. in Atlanta, is one of several technology vendors that said they have seen a significant surge in enrollment activity at their client credit unions as Bank Transfer Day approached.
These aren't just new deposit accounts, Broadwell added. About a third are signing up for mobile banking, about a fourth for e-statements "and really just a whole bunch of other subscriber services are coming across the transom on a daily basis," he said.
“What we wished for is coming true,” Broadwell said.