Coastal Community Credit Union deploys thirdstream’s retail loans online solution
Vancouver Island credit union is transforming its online loans application and fulfillment process, offering up to $5,000 instantly to new members.
LETHBRIDGE, AB, CANADA, April 20, 2023/EINPresswire.com/ — Coastal Community Credit Union, Vancouver Island’s largest Island-based financial organization, today announced it has launched thirdstream’s online lending solution. Coastal Community serves over 86,000 members in British Columbia and adoption of online digital lending is the next step in the credit union’s drive to provide contemporary tools to its membership.
Coastal Community’s new online lending solution lets the credit union reach more people who are seeking fast and flexible credit solutions. The retail loans offering is available through a streamlined platform hosted by the credit union’s partner, thirdstream.
“Our goal is to continuously improve our member and client experience, including enhancing our digital channels, to ensure our members have the choice on how to interact with us,” said James Mitchell, SVP, Digital & Information Technology. “Expanding our partnership with thirdstream is a hassle-free way to deliver credit products and expedite moving funds to applicants quickly. Together we’re bringing speed and flexibility to the process and helping people meet their financial goals.”
The convenient online application can be completed using a desktop, tablet or smartphone, giving consumers the ability to apply for personal loans anytime, anywhere and have funds deposited directly into their account within minutes. The online offering is currently available to those who are not yet Coastal Community Credit Union members.
thirdstream’s Financial Services API Platform helps financial institutions accelerate the customer onboarding journey. It automates, simplifies and streamlines the processes that ensure accurate information is captured, adhering to regulatory requirements, optimizing operational efficiency and continually improving the member experience. Not only is the new member fully vetted against FINTRAC guidelines for non-face-to-face transactions, the integration through to Coastal Community’s core processing system delivers an automated setup of the new member profile, profit share account, chequing account and the new loan without any staff involvement. thirdstream’s platform also automates the setup of loan payments to come out of the member’s new chequing account when the time comes.
Coastal Community’s ongoing engagement with thirdstream is bringing an array of solutions forward to support existing members, as well as attracting a wider audience. thirdstream’s collaboration with Central 1 and its Forge Digital Banking platform enables the existing member experience as well, helping members apply for a selection of products designed to improve their financial journeys.
Keith Ginter, thirdstream’s CEO, elaborates, “thirdstream and Coastal Community have been engaged with one another for the express purpose of providing consumers with access to products and services designed to meet them where they are in their financial services journeys.” He adds, “I’m excited about the possibilities for the credit union to transform the member experience by adopting our retail and commercial deposit account solutions, as well as our lending solutions that are designed to serve existing members and attract new ones.”
thirdstream provides online and in-branch deposit account opening solutions and online retail lending to over 50 Canadian financial institutions.
– 30 –
About thirdstream
thirdstream is headquartered in Lethbridge, Alberta, providing digital account opening solutions, online and in-branch, to Canadian banks, credit unions and trust companies. From identity verification to account funding, thirdstream’s solutions support consumer and business account opening, credit card onboarding, and unsecured retail lending, including adjudication. The thirdstream platform is cloud-deployed, designed for retail and business consumers seeking out financial institutions, and for financial institutions targeting consumers anywhere, any time, from any device. To learn more, visit www.thirdstream.ca.
About Coastal Community
For over 75 years, we’ve been passionate about helping Islanders improve their financial health and protect what’s important. This vision is why we have grown to be the largest financial services organization based on Vancouver Island and the Gulf Islands.
To help our members and clients improve their financial health, our business lines offer a full range of products and services for personal, business and commercial banking, insurance* and wealth management** through Credential Securities. Our Island communities are our homes, so we make decisions based on knowledge of the local market, strengthening local economies. And we never stop looking for ways to improve the way we do business.
*References to “insurance” refer to the insurance services provided through Coastal Community Insurance Services (2007) Ltd., an affiliate of Coastal Community Credit Union.
References to “wealth management,” “financial planning” and “investments” refer to mutual funds, other securities and securities related financial planning services offered through Credential Securities, a division of Credential Qtrade Securities Inc. Credential Securities is a registered mark owned by Aviso Wealth Inc. Coastal Community Private Wealth Group is a division of Coastal Community Financial Management Inc., which is a wholly owned subsidiary of Coastal Community Credit Union. Coastal Community Financial Management Inc. is a licensed life insurance agency offering financial planning, life insurance and investments.
George Hofsink
thirdstream
+1 7782331522
email us here
