Truist streamlines digital account opening with direct deposit switching

Core Insights - Truist Financial Corporation has launched electronic direct deposit switching capabilities to enhance the digital onboarding process for new accounts [1][2] - Since the feature's launch in August, 19% of new digital account applicants have utilized it to switch their direct deposits [2] - The company aims to provide a faster and more intuitive onboarding experience, allowing clients to choose Truist as their primary financial partner [3] Company Overview - Truist Financial Corporation is a purpose-driven financial services company with total assets of $544 billion as of September 30, 2025 [5] - The company operates in various sectors including consumer and small business banking, commercial banking, investment banking, and wealth management [5] Strategic Initiatives - Truist is investing in building 100 new insights-driven branches and renovating over 300 branches in high-opportunity markets over the next five years [6] - Enhanced digital tools include smarter scheduling for appointments, an intuitive account opening process, and access to digital planning tools [6] - Truist Assist, an AI-enhanced digital assistant, averages up to 440,000 conversations per month, providing quick answers to client inquiries [6] - Truist Insights offers over 550 million personalized financial insights annually to assist clients with cash-flow summaries and balance monitoring [6] - The company is piloting Truist Client Pulse, an AI tool to aggregate client feedback for better insights and trend analysis [6]