Platform Extends Credit Unions’ Mobile Range
Print preview: Two credit unions pilot a new mobile banking solution ahead of a full public release.
It is insufficient for credit unions to serve only people walking into a branch. Credit unions must find ways to extend its perimeter and literally reach out to current and future members.
Recognizing the need for financial institutions to become more mobile, UK-based Finastra is bringing banking services outside the branch with the launch of Fusion Digital Front Office, a tablet-based platform, which enables credit unions to take services directly to their members.
“We were looking to provide (financial institutions) with an innovative solution that aligns with the transformation that we are seeing in the market. Giving them the ability to really drive more engagement, more interaction was really the impetus behind creating this product,” Allan Brown, vice president/general manager, digital, community markets, at Finastra, said.
Fusion Digital Front Office’s cloud-based, mobile first design allows tablets to untether financial institutions’ ability to service accountholders, open new accounts, and provide personal, relationship-building opportunities.
Finastra maintains taking business to the accountholder is a new way of banking. Fusion Digital Front Office enables business development employees to go mobile and service accountholders where they live or work. According to Finastra, formed in 2017 by the combination of Misys and D+H, it is a highly configurable, easy to use, and intuitive, so employees require minimal training. It also offers a single, digital platform to drive a consistent user experience across channels for both employees and accountholders, resulting in more personalized and robust opportunities for revenue generation.
John Weinkowitz, director of product management for channel products and technology. Finastra, said, “One of the primary drivers of building out Fusion Digital Front Office is that we recognize, the process of (branch) transformation can be very different between credit unions. It’s intentional for us to help our customers create the transformational process around this platform that’s best for them.”
Two Finastra customers — the $376 million Fort Wayne, Ind. Partners 1st Federal Credit Union and the $620 million El Monte, Calif.-based Vons Federal Credit Union — are the first to pilot the solution ahead of general availability.
Read more about Finastra’s Fusion Digital Front Office in the June 12 issue of CU Times.