ASAPP, Tandia Financial Credit Union and Central 1 launch Canada’s first account and lending origination plugin for Forge
ASAPP OXP and Central 1 are excited to announce the successful launch of Canada’s first account and lending origination experience integrated within the Forge Digital Banking Platform.
Central 1’s Forge Community Team, the ASAPP Platform Development Team and strategic testing and deployment partner Tandia Financial Credit Union began a collaborative effort to create and deliver a secure, authenticated account and lending origination plugin within the Forge Digital Banking ecosystem for Canadian Credit Unions in the summer of 2021.
“We wanted to create a way to further streamline the account and lending origination process, making it even easier for members to apply for financial products and services online,” said Steve Suave, ASAPP’s Chief Product Officer. “At the end of the day, it’s about replacing roadblocks and friction with speed and convenience because that’s what members want.”
The innovative plugin utilizes the new micro front-end capabilities of Forge 2.0 to present members with a list of available products. Once a product is selected, it leverages existing authenticated member data in a secure session to simplify the application process. Essentially, it’s able to auto-fill applications with product and member details, pulled directly from core banking data, without any verification actions required by the member.
“The new plugin speeds everything up and improves the user experience,” Mark Derraugh, Interim Chief Payments and DBPX Officer for Central 1. “By leveraging the Forge Digital Banking Platform, this innovation will make a significant impact for credit unions across Canada. When you make it easier for members to complete their online applications, more applications will be completed – it’s that simple.”
After a comprehensive user-acceptance testing and quality assurance period, this collective effort came to fruition when Tandia successfully deployed the new plugin within their online banking environment in December 2021 as part of their extremely successful “Won-der-ful Savings”, Deposit Acquisition Campaign, which raised over $60M in new HISA deposits in 7 days. Its members are now able to benefit from the simplified, digitally integrated application workflow.
“At Tandia, we pride ourselves in leading in the financial services space when it comes to innovation,” said Richard Davies, President & CEO of Tandia Financial Credit Union. “We’re thrilled to be the first credit union in Canada to provide our members with this accelerated, more refined end-to-end application journey.”
This collaboration between Central 1 and ASAPP demonstrates the open architecture capabilities and flexibility of Forge, enabling the direct integration of products and services that reduce the traditional friction by seamlessly blending experiences for credit union members. Central 1 and ASAPP shared the new innovation with the broader Central 1 Forge Community earlier this week. Check out this video from our virtual Forge Community Showcase.
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About ASAPP Financial Technology
ASAPP delivers Custom Experience Software and Platform Strategy Solutions that create sustainable competitive advantages for regulated financial service providers as they compete against direct-to-consumer fintech solutions. ASAPP OXP is Canada’s most complete omnichannel experience platform for the financial services industry. For more information, visit www.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 power progress for more than 250 credit unions and other financial institutions, enhancing the financial well-being of more than 5 million customers from 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 a continued commitment to serve education and government employees in Ontario. Tandia partners alongside its members each and every day to help them build healthy and prosperous futures. With a branch network that extends from Brant County through Greater Hamilton, Halton and the GTA, Tandia serves 29,000 members and administers over $2.0 billion in assets. For more information, visit www.tandia.com
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