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Articles by Har Rai Khalsa
Your members visit you 21 times a month, and nothing ever comes of it
Picture a branch that draws more foot traffic than every other location in your network combined. Members walk in voluntarily, several times a week, without a mailer, an incentive, or a phone call prompting them. Now imagine that branch has no greeter, no signage, and no staff; every visitor gets what they came for and leaves. You already own that branch. It is your digital banking session. The numbers behind this are not speculative.
Why the progress bar beats the welcome packet, the brochure, and a friendly email from your CEO
The standard new member welcome packet at a credit union runs eight to fourteen pages and usually includes: A glossary of services A routing and account number reference A list of available products An explanation of mobile deposit An overdraft disclosure An eStatement enrollment prompt Three or four cross-sell offers A friendly note from the CEO that nobody reads The packet is thorough, well-intentioned, and almost completely useless as an activation tool.
What Toyota knows that your credit union doesn’t
On the floor of every Toyota plant runs a length of yellow cord, suspended within arm's reach of every line worker. It is called the andon cord. Pull it, and the entire production line stops. Not a section and not a station, the whole line. The economics of the cord look insane on paper. Stopping the line costs thousands of dollars per minute in lost output.
What’s your credit union’s Rotten Tomatoes score?
In the summer of 2016, Warner Bros. released Batman v Superman: Dawn of Justice. The marketing was extraordinary, the trailers lit up social media, and the hype machine worked exactly as designed. Opening weekend delivered $166 million in domestic box office revenue, the highest March opening of all time. By the second weekend, ticket sales dropped 69%. The film did not fail because the marketing was bad; the marketing was exceptional.
Swaystack and On Tap Credit Union Partner to Eliminate Early-Stage Member Attrition
Swaystack and On Tap Credit Union Partner to Eliminate Early-Stage Member Attrition Together, the teams built a gamified onboarding framework designed to move members from intention to engagement.
Think Bank and Swaystack Partner to Advance Onboarding, Cross-Sell, and Engagement at Scale
Think Bank and Swaystack Partner to Advance Onboarding, Cross-Sell, and Engagement at Scale Think Bank and Swaystack Partner to Advance Onboarding, Cross-Sell, and Engagement at Scale A 90-day rollout delivers a guided onboarding journey that activates accounts earlier and strengthens long-term relationship value.
Magnolia Federal Credit Union and Swaystack Turn Onboarding Into Engagement That Lasts
Magnolia Federal Credit Union and Swaystack Turn Onboarding Into Engagement That Lasts Magnolia FCU partners with Swaystack to increase member engagement and loyalty with gamified onboarding. Har Rai and Simran are second- time founders who share a passion for helping banks and credit unions compete with megabank and neobank technology. Gamify onboarding to win primary financial institution and top of wallet status.
From Welcome to Wallet: Communication Federal Credit Union Taps Swaystack to Secure Primacy
Communication FCU and Swaystack Partner to Gamify Onboarding and Engagement Har Rai and Simran are second- time founders who share a passion for helping banks and credit unions compete with megabank and neobank technology. Gamify onboarding to win primary financial institution and top of wallet status. Every digital interaction is a chance to make banking more personal and intuitive.
Citizens State Bank (Indiana) Elevates Digital Onboarding With Swaystack to Secure Deposit Growth and Engagement
Citizens State Bank (Indiana) Elevates Digital Onboarding With Swaystack to Secure Deposit Growth and Engagement Citizens State Bank and Swaystack Parter to Secure Deposit Growth and Engagement Gamify onboarding to win primary financial institution and top of wallet status. Har Rai and Simran are second- time founders who share a passion for helping banks and credit unions compete with megabank and neobank technology.
Heritage Valley Federal Credit Union and Swaystack Position Onboarding as a Lever for Growth, Engagement, and Loyalty
Heritage Valley Federal Credit Union and Swaystack Position Onboarding as a Lever for Growth, Engagement, and Loyalty Heritage Valley FCU and Swaystack Parter to Grow Engagement and Loyalty Gamify onboarding to win primary financial institution and top of wallet status. Har Rai and Simran are second- time founders who share a passion for helping banks and credit unions compete with megabank and neobank technology.
Kohler Credit Union Partners with Swaystack to Transform Member Onboarding and Boost Digital Engagement
Kohler Credit Union Partners with Swaystack to Transform Member Onboarding and Boost Digital Engagement Kohler CU Partners with Swaystack Har Rai and Simran are second- time founders who share a passion for helping banks and credit unions compete with megabank and neobank technology. Gamify onboarding to win primary financial institution and top of wallet status. Inside digital banking, onboarding isn’t just about getting started.
Eleven Community Banks and Credit Unions Have Joined Forces with Swaystack to Increase Account Activation and Engagement
Eleven Community Banks and Credit Unions Have Joined Forces with Swaystack to Increase Account Activation and Engagement 11 Financial Institutions Select Swaystack Community banks and credit unions gamify onboarding with Swaystack to win primary financial institution and top of wallet status. Gamify Onboarding. Personalize Engagement. Swaystack solves the problem we wrestle with every day.
The auto loan customer who never became a member
A busy professional finances a car at a dealership, thrilled to drive off the lot. Your credit union funds her loan, but she never realizes you're involved. Weeks later, when the new car smell has faded, she receives a bulky envelope packed with fine print and forms. Overwhelmed, she sets it aside "for later," but that later never comes. She doesn't download your app, register for online banking, or set up automatic loan payments.
Har Rai Khalsa
Har Rai is an entrepreneur on a mission to ensure credit unions compete with megabank and neobank technology. He began his career as a lender in 2007, co-founded MK Decision in 2015 to help credit unions compete with digital account opening, which was acquired by Alkami in 2021.
Family Financial Credit Union Partners with Swaystack to Solve Digital Onboarding's Blind Spot: Account Activation
Family Financial Credit Union Partners with Swaystack to Solve Digital Onboarding's Blind Spot: Account Activation Family Financial Credit Union Partners with Swaystack Har Rai and Simran are second- time founders who share a passion for helping banks and credit unions compete with megabank and neobank technology. Gamify onboarding to win primary financial institution and top of wallet status.
How a $700 introductory bonus won a $7,000,000 member
Nobel was a college student with big dreams but barely enough in his bank account to cover tuition and textbooks. He spent his evenings poring over his coursework, eating instant noodles to stretch his budget, and dreaming of the day his hard work would pay off. One day, Nobel stumbled across an ad promising a $700 bonus for switching to a new financial institution. A quick transfer of funds and a direct deposit setup were all it would take.
How Chime grew to 22 million users!
People love to talk about Chime. Every day, I hear credit union leaders focus on the speed of Chime’s digital account opening process. And they’re right—I’ve seen people open new Chime accounts in under 3 minutes! However, what I don’t hear as often is how effective Chime’s onboarding experience is. So, how does Chime onboard its members? Hint—it’s not just the 12 emails they send in the first 15 days.
Why I don’t have money with my credit union
A few months ago, I decided to become a member at a local credit union after relocating to South Florida. After a busy day of work, I opened an account online. I was thrilled to get started! However, after submitting my application, I realized how far behind I was on a major project. I spent the next couple of days catching up, and completely forgot about my new account. A month has passed, and I still haven’t used my credit union’s account. No mobile app, direct deposit, or debit card.
3 strategies - starting with fast onboarding - to help banks boost deposits
Amid today’s higher interest-rate environment, growing deposits is a top priority of America’s bankers. So how can banks proactively accelerate their deposit growth and enhance their primary banking relationships? Three strategies worth exploring: Onboard: Acquire new depositors Grow: Enhance the deposit relationship with current account holders Cross-sell: Use data to understand what account holders need and then deliver.
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