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Old Point Makes it Easier to Switch Banks in Hampton Roads, VA.

Company Release - 2/7/2019 4:39 PM ET

HAMPTON, Va., Feb. 7, 2019 /PRNewswire/ -- Old Point National Bank has selected both Digital Onboarding Inc. and ClickSWITCH, LLC to make it easier for people to switch their banking relationships to Old Point. Digital Onboarding, Inc. is a SaaS technology company that provides a fully automated new account activation platform and ClickSWITCH is an award-winning technology that provides a secure digital solution for switching direct deposits and recurring payments.

"When someone takes the time to move their banking relationship to Old Point, we want to make the process as simple as possible," said Rob Shuford Jr., President and CEO at Old Point National Bank. "ClickSWITCH's unique technology makes the cumbersome process of moving recurring payments and deposits simple. Plus, with the Digital Onboarding platform, new customers will have all of the information they need to enroll in account-related services at their fingertips and we're proud to be the first bank in Hampton Roads, VA to offer this unique service."

Javelin Strategy and Research reported that 25% of consumers believe that tasks such as enrolling in online banking are complicated and The Digital Banking Report from the Financial Brand showed that new customer attrition rates range from 25% to 40% due to suboptimal onboarding processes.

"The experience that banks deliver during the first 90 days of a relationship defines long-term customer satisfaction and profitability," said Ted Brown, CEO at Digital Onboarding, Inc. "Paper welcome kits and phone calls are not enough to motivate customers to enroll in account-related services. Old Point is leading by differentiating on service quality and a fully automated digital onboarding process is an important part of that strategy."

"Combining Digital Onboarding and ClickSWITCH delivers a powerful onboarding experience," said Cale Johnston, Founder and CEO at ClickSWITCH, LLC. "The ability to open an account, capture direct deposits and activate new accounts is a complete end to end solution that will deliver primary account holders to Old Point."

About Old Point National Bank
Old Point National Bank is a wholly owned subsidiary of Old Point Financial Corporation (NASDAQ: OPOF) with branches throughout Hampton Roads, VA. It is a full service bank offering a wide range of financial services, from solutions focused on individuals and small businesses to comprehensive commercial services. For additional information, please visit OldPoint.com.

For Old Point National Bank media inquiries, contact: Laura Wright, Vice President/Marketing Director, lwright@oldpoint.com or 757.728.1743.

About Digital Onboarding Inc.
Digital Onboarding Inc. is a SaaS technology company focused on helping banking and credit union customers activate their financial services products. Digital Onboarding provides a fully automated new account activation platform that is more efficient and effective than traditional phone calls, emails, direct mail, and print brochures, driving profit by increasing new customer activation rates. For additional information, visit digitalonboarding.com.

For Digital Onboarding media inquiries, contact: Laurie McLachlan, laurie@digitalonboarding.com or 617.921.2916.

About ClickSWITCH, LLC
ClickSWITCH LLC is a unique account holder acquisition technology for financial institutions that simplifies the process of bringing new account holders onboard by quickly, safely and efficiently switching their recurring payments from their old accounts to new ones. Based in Minneapolis, MN, the company's industry-leading solutions help clients to increase account holder acquisition and activation rates, engage during onboarding, and cross-sell products to capture full profit potential. ClickSWITCH is a technology leader delivering world-class solutions to financial institutions of all sizes. To learn more, visit ClickSWITCH.com.  

For ClickSWITCH media inquiries, contact: Ashley D'Alessandro, Director of Marketing, adalessandro@clickswitch.com.

Old Point Financial Corporation ("OPOF" - Nasdaq) is the parent company of The Old Point National Bank of Phoebus, a locally owned and managed community bank serving all of Hampton Roads and Old Point Trust & Financial Services, N.A., a Hampton Roads wealth management services provider. www.oldpoint.com

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SOURCE Old Point Financial Corporation