As the Industry Shifts, SilverCloud Reports Rapid Growth to Accommodate New Demand

Throughout Q2, the company positioned itself to best help financial institutions transitioning to a remote, digital banking environment

PORTSMOUTH, N.H.–(BUSINESS WIRE)–SilverCloud, Inc., the only support solution built exclusively for the financial services industry, today announced significant Q2 growth and expansion that includes additions to the company’s leadership team, customer base and partnership program. As financial institutions respond to the compulsory change in consumer behavior as a result of the COVID-19 pandemic, SilverCloud has continued to meet the demand for intuitive support solutions and to assist in the transition to a more digital-first future.

The second quarter of this year saw a dramatic shift in the way most industries conduct business. Banks and credit unions embraced new methods of interacting and engaging with consumers, and many realized a need to provide additional support channels to better facilitate this transition. In Q2, SilverCloud signed seven new financial institutions to its automated digital support solutions, three customers chose to broaden their relationship by implementing additional solutions to better serve both employees and customers, and 12 customers opted to expand the functionality of their support solution with features such as Guided Tutorials and the company’s artificial intelligence-powered Banking Chatbot designed specifically for banks and credit unions. The demand for Banking Chatbot grew substantially among financial institutions, with 20 new customers launching the platform in the first half of 2020.

SilverCloud was also able to expand its partner ecosystem, which is aimed at providing more value for mutual customers while for deeper insight into customers. This ecosystem expanded to include three new partners in Q2, including C&A Consulting, CU Solutions Group and Five9. Together, this partnership program helps banks and credit unions grow efficiently to deliver a better experience.

The SilverCloud executive team grew with the addition of industry veterans Doug Meads, senior vice president of sales, and Bob Jensen, vice president of channel sales and partnerships. Meads and Jensen are both industry executives with decades of experience in the financial services technology industry. Meads is a dynamic technology sales leader with a proven track record of exceeding targets and Jensen offers expertise in lending practices, electronic and omni channel customer service and delivery to his role stemming from his time with Wolters Kluwer, Finastra and NXTsoft.

“Banks and credit unions have had to pivot to an almost completely digital environment almost immediately,” said Scott Cornell, CEO of SilverCloud. “Self-service solutions have become a necessary tool to help facilitate the transition as questions from the consumer banking and business banking communities are inundating financial institutions. Communication and accessibility to information are more important than ever and we are proud to be uniquely positioned to provide insight into what banking consumers are most in need of now and every day. At SilverCloud, we work exclusively with banks and credit unions to provide superior digital support and look forward to furthering this mission in the future.”

About SilverCloud

SilverCloud, headquartered in Portsmouth, NH, is a leading provider of support solutions built exclusively for banks and credit unions. Trusted by more than 200 financial institutions, SilverCloud helps banks and credit unions deliver better support to reduce costs and improve experience by automating the creation, management and delivery of knowledge. Easy to implement and maintain, SilverCloud ensures satisfaction and a tangible ROI. For more information, visit www.silvercloudinc.com.

Contacts

Anna Stanley 

Anna@williammills.com

251.517.7857