Live Oak Bank has chosen Onsetto's SwitchAssist platform to enhance its business banking growth and deposit activation, according to an announcement made on August 5, 2026. The fintech solution aims to bridge the gap between account opening and full activation, helping banks convert newly acquired business accounts into primary operating relationships.
As competition for business deposits intensifies, financial institutions are increasingly focusing on ensuring that new accounts become fully engaged. SwitchAssist provides a structured activation experience for both business customers and bankers, guiding 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, Chief Banking Officer at Live Oak Bank, emphasized the importance of this partnership: "At Live Oak Bank, we are committed to helping business owners succeed with banking experiences that are simpler, easier, faster, and more efficient. 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 challenge for many banks is not just opening accounts but helping customers move their real 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 customer attrition risk can increase. Onsetto's SwitchAssist addresses this by providing the growth infrastructure needed to operationalize business account activation, reduce customer friction, support banker follow-up, and convert newly acquired accounts into deeper, more valuable commercial relationships.
Cale Johnston, Founder and CEO of Onsetto, noted: "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. 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.
Onsetto is the Commercial Banking Operating Platform that helps financial institutions identify, activate, expand, and retain primary commercial banking relationships. Through a connected suite of solutions, including business account switching, prospecting intelligence, and treasury growth, Onsetto equips banks to accelerate commercial deposit growth, increase treasury adoption, and strengthen long-term customer relationships. Founded by the team behind ClickSWITCH, Onsetto is helping financial institutions modernize commercial banking by turning relationship growth into a repeatable operating model. Learn more at www.onsetto.com.
