HERNDON, Va., Jan. 23, 2014 /PRNewswire/ — DigitalMailer announced today that My Virtual StrongBox recorded eight financial institution signings during 2013, bringing the total to 11 institutions offering the secure product to their customers. Together, these credit unions and banks make My Virtual StrongBox available to 1.2 million consumers nationwide.
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Launched in 2012, My Virtual StrongBox functions as an online safe deposit box that financial service providers can offer their clients. The product securely stores clients' important documents and files.
"It's been a busy two years, fine-tuning the product and adding clients," said Ron Daly, President of DigitalMailer. "We've designed My Virtual StrongBox to be simple to use and to make life easier when it comes to a consumer's financial life. We continue to receive positive feedback from those providing My Virtual StrongBox and their users, as well as inquiries from financial firms looking to offer greater value to their customers."
My Virtual StrongBox positioned DigitalMailer as one of the first companies to allow members/customers to add their own personal documents to their trusted financial partner's secure, online document library. As 2014 begins:
- Institutions of all sizes – from $5 billion Digital FCU to $27 million Element FCU – have contracted to offer My Virtual StrongBox to their members/customers.
- Together, the assets of these 11 financial institutions total $16.6 billion.
- One participating institution, Northwest Federal Credit Union in Herndon, Va., has averaged 4.85 new My Virtual StrongBoxactivations per day during the past two months, as it makes more members aware of the service.
- Nearly 7,000 executive and staff members of Credit Union Executive Society (CUES) now receive My Virtual StrongBox as a free member benefit.
- A new Education Wizard is available within My Virtual StrongBox to help users set up their online virtual strongbox. The Wizard also suggests documents to store based on answers provided in an optional user profile form.
- My Virtual StrongBox users can earn discount "keys" for additional storage-space purchases through a rewards feature built into the Wizard.
Among the first financial institutions to offer the service was Redstone Federal Credit Union, whose members rely heavily on digital technologies. Based in Huntsville, Ala., Redstone FCU offers 125 MB of storage space to its My Virtual StrongBox users as a "freemium" for being a member of the financial institution. To date, nearly 40,000 of its members have activated My Virtual StrongBox accounts.
"At Redstone Federal Credit Union, we strive every day to be our members' 'Trusted Advisor.' We have a key role in helping members manage life events, and a crucial component is offering secure storage of critical life documents," said Harry Gunsallus, Executive Vice President. "My Virtual StrongBox serves that purpose for us and our members by keeping important documents safe from natural disasters and other unplanned events. It extends and reinforces the value proposition of Redstone FCU with our members."
According to Daly, financial institutions launching My Virtual StrongBox are deploying the service using different strategies as they seek a differentiation over competitors. Examples include making the virtual strongbox part of reward programs, as well as using it in estate planning and wealth management services.
To learn more, visit www.myvirtualstrongbox.com or call (866) 994-4900.
About My Virtual StrongBox
Launched in 2012, My Virtual StrongBox functions as an online safe deposit box for valuable items such as wills, birth certificates, insurance and tax documents, family photographs and other important papers. Users keep these items secure by loading them into protected, online document libraries. One important feature is that the product is an actual depository, not just a temporary storage drop or transfer station.
About DigitalMailer
DigitalMailer, Inc. helps financial institutions and businesses open their biggest branch – the virtual branch. Using its expertise and today's technology, DigitalMailer helps organizations connect with customers in the online channel they prefer, driving consistent, managed messages that are optimized for communication, convenience, efficiency and promotion of product growth. To learn more, visit www.digitalmailer.com or call (866) 994-4900.