In a competitive banking landscape, acquiring new business accounts is only half the battle; the real challenge lies in activating those accounts into primary, revenue-generating relationships. Onsetto, a fintech company specializing in commercial banking growth, announced that Live Oak Bank has selected its SwitchAssist platform to enhance the transition and activation process for new business customers.
SwitchAssist is designed to bridge the gap between account opening and full activation. It provides a structured experience that guides business customers through the critical steps of moving their banking relationship, including updating payment instructions, transitioning recurring transactions, notifying vendors and customers, activating treasury and payment services, and establishing new operating workflows. This approach helps reduce friction, improve onboarding, and accelerate the time to value for customers.
“At Live Oak Bank, we are committed to helping business owners succeed with banking experiences that are simpler, easier, faster, and more efficient,” said Mark Moroz, Chief Banking Officer at Live Oak Bank. “SwitchAssist provides a structured approach that helps reduce friction, improve onboarding, and accelerate activation so customers can realize value from their banking relationship more quickly.”
The need for such a solution is underscored by industry trends. Many banks struggle with new accounts that remain underutilized, with deposits staying elsewhere and customer attrition risk increasing. Without a structured activation process, the potential value of new accounts is often not fully realized. Onsetto’s platform aims to solve this by providing the growth infrastructure needed to operationalize activation, support banker follow-up, and convert acquired accounts into deeper, more valuable commercial relationships.
“Banks are under pressure to grow business deposits, deepen relationships, and reduce attrition, but many still rely on manual processes to help customers transition after account opening,” said Cale Johnston, Founder and CEO of Onsetto. “SwitchAssist gives financial institutions a structured activation framework that helps business customers move their operating activity and establish the bank as their primary financial partner. Live Oak Bank’s selection of Onsetto reinforces the importance of activation as a core part of business banking growth.”
SwitchAssist combines customer-facing workflows, banker enablement tools, progress visibility, and activation best practices to create a consistent and scalable transition experience. For banks, the platform supports deposit growth, treasury services adoption, customer engagement, operational efficiency, and long-term relationship value. With 21 financial institutions currently live on the platform, Onsetto continues to help banks and credit unions move beyond account acquisition and build repeatable processes for business banking activation.
This collaboration underscores a broader shift in business banking: the recognition that activation is a critical driver of deposit growth and customer loyalty. By adopting SwitchAssist, Live Oak Bank positions itself to more effectively convert new accounts into primary relationships, a strategy that is essential for sustaining growth in a competitive market. Learn more about Onsetto and its solutions at www.onsetto.com.
