MINNEAPOLIS, MN - August 5, 2026 - Onsetto, a fintech company focused on helping financial institutions grow business deposits and activate primary business banking relationships, announced that Live Oak Bank has selected its SwitchAssist platform to enhance the way business customers transition and activate their banking relationships.
As competition for business deposits intensifies, banks are increasingly focusing not only on acquiring new business accounts but also on ensuring those accounts become fully engaged, primary operating relationships. SwitchAssist helps financial institutions bridge the gap between account opening and account activation by providing a structured activation experience for business customers and bankers.
Through SwitchAssist, Live Oak Bank will guide business customers through critical steps involved in moving a banking relationship, including updating payment instructions, transitioning recurring transactions, notifying vendors and customers, activating treasury and payment services, and establishing new operating workflows. This structured approach reduces friction and accelerates activation, allowing customers to realize value from their banking relationship more quickly.
“At Live Oak Bank, we are committed to helping business owners succeed with banking experiences that are simpler, easier, faster, and more efficient,” said Mark Moroz, Chief Banking Officer at Live Oak Bank. “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.”
For many banks, business account opening is only the first step. The greater challenge is 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 was built to solve this challenge. SwitchAssist provides the growth infrastructure banks need to operationalize business account activation, reduce customer friction, support banker follow-up, and convert newly acquired accounts into deeper, more valuable commercial relationships.
“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,” said Cale Johnston, Founder and CEO of Onsetto. “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 more 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. For more information about Onsetto and its solutions, visit www.onsetto.com.
