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Banks are joining NBID for the better economics, product, service, and alignment. Those start when your depositors move. On our recent webinar, Best Practices for Transitioning to NBID, panelists from Northrim Bank, Zions Bank and ServisFirst Bank shared why they moved and why it was easier than expected. Here’s what we heard.
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Frank DiPuma
EVP, Director Enterprise Commercial Products
Zions Bank
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Cole Owens
AVP, Treasury Management Services
ServisFirst Bank
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Doug Ladenburger
Director of Treasury Management Services
Northrim Bank
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| Why they moved |
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“The economics were important for us. This is critical to the success of Zions Bancorporation.”
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Frank DiPuma
EVP, Director Enterprise Commercial Products, Zions Bank
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“It was also beneficial for us to have a say. The organizational structure, the ownership structure, and the oversight that is banks for banks. We felt like the liquidity in the system is ours.”
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Frank DiPuma
EVP, Director Enterprise Commercial Products, Zions Bank
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“The access that I and other team members have into the system, it’s a night and day difference from what we had before. It’s so simple and easy to navigate.”
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Doug Ladenburger
Director of Treasury Management Services, Northrim Bank
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“When our operations group had questions or challenges or concerns, our Regional Director couldn’t have been any more responsive, and it was almost immediate.”
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Doug Ladenburger
Director of Treasury Management Services, Northrim Bank
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| How they framed it to depositors |
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“It was a directive. You couldn’t have put it more plainly, ‘This is a service that we offer, and we have decided that for our business needs, we are changing providers.’”
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Cole Owens
AVP, Treasury Management Services, ServisFirst Bank
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“We approached it as a simple move from one partner to another… We were moving to a bank-driven network.”
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Doug Ladenburger
Director of Treasury Management Services, Northrim Bank
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| How depositors reacted |
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“Their money moved, they got logged in, and there was no feedback. It was just a non-event. We changed from one vendor to another. It was surprisingly easy.”
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Doug Ladenburger
Director of Treasury Management Services, Northrim Bank
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“Honestly, the lack of pushback. That’s what surprised me the most.”
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Cole Owens
AVP, Treasury Management Services, ServisFirst Bank
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Three phases to activate and transition your depositors
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| Before you begin This guide assumes your bank is operationally ready to launch with NBID. |
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Ensure you are ready before the first customer.
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Frame it as a directive: a back-end vendor change led by your bank. Involve RMs early, starting with your largest relationships, and transition depositors in waves. All messaging covers three points:
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Move each depositor’s related accounts in one wave, and provide portal credentials well ahead of money movement to ensure they have visibility. On liquidation day:
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| 3 | Move funds into NBID network |
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We’re here to help
Reach out to your Regional Director or reply to this email to chat more about your bank and transitioning to NBID.
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NBID LLC is not a bank. Deposit insurance covers the failure of insured institutions, not NBID. Deposits are placed at FDIC-insured network institutions and are eligible for pass-through insurance up to $250,000 per institution. Certain conditions must be satisfied for “pass-through” FDIC deposit insurance coverage to apply. A list of participating banks appears at nbid.com/bank-list.
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