TORONTO, ON, CANADA, February 25, 2022 /EINPresswire.com/ — ASAPP OXP and Central 1 are thrilled to announce the successful launch of Canada’s first account opening and lending experience integrated with the Forge digital banking platform.
Central 1’s Forge Community Team, ASAPP Platform Development Team, and Strategic Testing and Deployment Partner Tandia Financial Credit Union have begun a collaborative effort to create and provision a secure, authenticated account and loan origination plugin within the Forge Digital Banking ecosystem for Canadian credit unions in summer 2021.
“We wanted to create a way to further streamline the account creation and loan process, making it even easier for members to apply for financial products and services online,” said ASAPP Chief Product Officer Steve Suave. “At the end of the day, it’s about replacing obstacles and friction with speed and convenience, because that’s what members want.”
The innovative plugin uses Forge 2.0’s new front-end mic capabilities to present members with a list of available products. Once a product is selected, it leverages existing data from authenticated members in a secure session to simplify the application process. Essentially, it is able to automatically populate requests with product and member details, pulled directly from basic banking data, with no verification action required by the member.
“The new plug-in speeds everything up and improves the user experience,” said Mark Derraugh, Acting Director of Payments and DBPX for Central 1. “By leveraging the Forge digital banking platform, this innovation will have a significant impact about credit unions across Canada When you make it easier for members to complete their applications online, more applications will be filled – it’s that simple.
After a comprehensive period of user acceptance testing and quality assurance, this collective effort came to fruition when Tandia successfully deployed the new plug-in to its online banking environment in December 2021 as part of its extremely successful “Won-der-ful Savings”, Deposit Acquisition Campaign, which raised over $60 million in new HISA deposits in 7 days. Its members can now benefit from the simplified and digitally integrated application workflow.
“At Tandia, we are proud to lead the financial services industry in innovation,” said Richard Davies, President and CEO of Tandia Financial Credit Union. “We are thrilled to be the first credit union in Canada to offer our members this faster and more refined end-to-end application process. »
This collaboration between Central 1 and ASAPP demonstrates Forge’s open architecture capabilities and flexibility, enabling the direct integration of products and services that reduce traditional frictions by seamlessly blending experiences for credit union members. Central 1 and ASAPP shared the new innovation with the wider Central 1 Forge community earlier this week.
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About ASAPP Financial Technology
ASAPP provides personalized experience software and platform strategy solutions that create sustainable competitive advantages for regulated financial services providers as they compete with direct-to-consumer fintech solutions. ASAPP OXP is Canada’s most comprehensive omnichannel experience platform for the financial services industry. For more information, visit asappbanking.com
About Central 1
Central 1 is a preferred partner for financial, digital banking and payment products and services, fueling the success of businesses across Canada. We leverage our scale, strength and expertise to advance more than 250 credit unions and other financial institutions, improving the financial well-being of more than 5 million customers coast-to-coast . For more information, visit www.central1.com
About Tandia Financial Credit Union
Tandia Financial Credit Union is a cooperative financial institution with a vision to be the financial services provider of choice in its communities and an ongoing commitment to serving education and government employees in Ontario. Tandia partners with its members every day to help them build a healthy and prosperous future. With a branch network that stretches from Brant County to Greater Hamilton, Halton and the GTA, Tandia serves 29,000 members and administers over $2.0 billion in assets. For more information, visit tandia.com
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