Live Oak Bank has chosen Onsetto's SwitchAssist platform to enhance how business customers transition and activate their banking relationships, signaling a strategic move to deepen deposit growth and customer engagement. As competition for business deposits intensifies, banks are focusing not only on acquiring new accounts but also on ensuring those accounts become fully engaged primary operating relationships. SwitchAssist helps close the gap between account opening and activation by providing a structured experience for customers and bankers.
Through SwitchAssist, Live Oak Bank will guide business customers through critical steps such as updating payment instructions, transitioning recurring transactions, notifying vendors and customers, activating treasury and payment services, and establishing new operating workflows. Mark Moroz, Live Oak's Chief Banking Officer, emphasized the bank's commitment to helping business owners succeed with simpler, faster, and more efficient banking experiences. He noted that SwitchAssist reduces friction, improves onboarding, and accelerates activation so customers realize value more quickly.
For many banks, account opening is only the first step; the real challenge is moving customers' actual financial activity—deposits, payments, payroll, treasury services, and vendor relationships—to the new institution. Without a structured activation process, new accounts may remain underutilized, deposits may stay elsewhere, and attrition risk increases. Onsetto was built to address this, providing the growth infrastructure banks need to operationalize activation, reduce friction, support banker follow-up, and convert new accounts into deeper commercial relationships.
Cale Johnston, Founder and CEO of Onsetto, highlighted the pressure banks face to grow deposits and reduce attrition, noting that many still rely on manual processes. SwitchAssist offers 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 reinforces 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, 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 acquisition and build repeatable processes for activation.
Onsetto, the Commercial Banking Operating Platform, helps financial institutions identify, activate, expand, and retain primary commercial banking relationships through a suite of solutions including business account switching, prospecting intelligence, and treasury growth. Founded by the team behind ClickSWITCH, Onsetto equips banks to accelerate deposit growth and strengthen customer relationships. Learn more at www.onsetto.com.
