Onboarding Timeline

Onboarding typically takes a few weeks, from 4 to 8 weeks, depending on your institution's needs and priorities. The process is composed of 4 key phases to ensure a smooth and successful launch:

1. Program Setup (Week 1–2)
   NBID kicks off with your business development and operations teams. We onboard your institution to Northern Trust, our custodian, and guide you through opening the program account, which facilitates your institution's participation in the NBID network.
2. Fund Movement (Week 2–3)
   Once the program account is set up, we test the movement of funds with a small dollar amounts to familiarize your operations team with the processes and address any institution-specific adjustments. Your team will receive test funds and gain access to the Admin Portal, where reporting data is shared.
3. First Account (Week 3–4)
   Next, we finalize the targeting and positioning strategy for Insured Sweep Accounts. Your institution will open its first sweep account in a soft launch to test the system, with NBID providing guidance throughout this phase.
4. Grow Accounts! (Week 4+)
   With the system fully operational, your institution can begin rolling out sweep accounts to clients. NBID will support your growth efforts by providing sales and marketing assistance, helping you attract new clients and deepen existing relationships.

Throughout the whole onboarding process and beyond, our Institution Success team provides continuous support, ensuring your bank is prepared to leverage NBID's tools effectively.