Finastra announced on Tuesday it recently added several credit unions to its growing client portfolio, based on its ability to provide a complete suite of lending, enterprise, and retail solutions. Among the latest credit unions added to the client roster are TruMark Financial Credit Union located in Pennsylvania, Central Florida Educators Federal Credit Union, and Evansville Teachers Federal Credit Union located in Indiana.
The company revealed that with traditional banks and a growing number of Fintech start-ups targeting consumers with an improved customer experience through technology, credit unions are being challenged to differentiate themselves with sophisticated products and services. Credit unions notably turn to Finastra for solutions that enable them to simplify the lending process, reduce costs, streamline front line and back-end processes and benefit from remote deposit and mobile banking capabilities in a secure, operationally efficient and reliable way. Kyle Stewart, Vice President of Commercial Lending atTruMark Financial Credit Union, stated:
“Partnering with a company like Finastra will offer TruMark Financial Credit Union the tools to provide a positive experience for its members. At TruMark Financial, we strive to understand our members’ financial needs and challenges. Finastra offers our team a streamlined process, leading to faster response for our members.”
Financial institutions face the significant challenge of being able to offer their customers a clean and easy to navigate user experience. The solutions from Finastra automate manual processes and expedite the loan approval experience for credit union members. The resulting improvements help credit unions to capture greater market share and drive revenue growth. Mike Dionne, Managing Director of North America Community Markets at Finastra, added:
“It takes powerful and reliable technology to tackle the unique challenges faced by credit unions. With a long history of partnering with more than 6,000 community banks, credit unions and trusts across North America, we understand the market and are well equipped to support its unique needs with our market leading lending, enterprise, and retail solutions.”
Formed in 2017 by the merger of Misys and D+H, Finastra now provides a portfolio of financial services software for spanning corporate banking, retail banking, investment management, managed services, and treasury and capital markets.