Following this integration, credit unions that are using Fiserv Portico will have the possibility to benefit from improved flexibility in order to deploy Bankjoy’s digital banking products for their customers and clients.
Furthermore, it will allow more credit unions to deliver an enhanced online and digital banking experience. This was made with a modern UX that was set to attract new users while straightening the connection with its already existing members.
Bankjoy also has integrations with several third-party partners. As a result of those collaborations, credit unions on Fiserv Portico will be given more opportunities to proactively address members’ needs, preferences, and demands with their technology, without the need for lengthy implementation timelines and engineering resources that cost money and much more time.
Fintech company that is engineered by credit union executives, Bankjoy offers its customers and members a large suite of services, as well as modern banking technology.
This includes mobile banking (a feature that incorporates all the services available in online banking, designed for any mobile device used by a member), online banking (represents a modern and secure web application built for digital retail banking, which includes improved features and design), and a conversational banking API that was designed for banks, financial institutions, and credit unions, small and big. Its conversational AI can be integrated by phone (IVR), Amazon Alexa, and Google Home.
Moreover, customers can benefit from an online account opening service, which was designed to reduce abandonment and grow deposits while giving them the possibility to securely open a new account on the go or in the branch. The online loan application represents one of the solutions as well, a streamlined and integrated loan application experience that was embedded in online and mobile banking in order to reduce friction and grow loan revenue.
The company supports multiple integrations with third-party collaborators, such as Allied Payments, UrbanFT, Savvy Money, and more.
Its integration with Allied Payment Network was announced in March 2022, and it aimed to offer digital payment tools and services to the company’s customers.
Credit union members that were using Bankjoy’s banking platform were set to have seamless access to Allied’s full suite of digital payment products, such as FlexPay bill pay with eBills and the PicturePay click-and-pay app, P2P and A2A payments, digital document storage, loan payment from external lending institutions, as well as small business payments.
The focus of the collaboration was also set on helping credit unions respond to mounting competition from alternative payment sources, including retail organisations and BigTech, many of them providing other financial products such as depository accounts.
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