Bow Valley’s adoption of Retail Deposits Online solution simplifies remote account opening with consumers.
LETHBRIDGE, AB, CANADA, October 6, 2021 /EINPresswire.com/ — Bow Valley Credit Union has successfully deployed thirdstream’s digital account opening solution for retail banking, in-branch and online. Integrated with Bow Valley’s core banking system, thirdstream’s solutions provide real-time opening of new accounts, and give existing members the ability to acquire additional products, virtually, and in-person.
“We moved forward with thirdstream because they were able to show us the power of their solutions, in production with financial institutions today,” said Lynn Dunlop, Director, IT and Banking Operations. “As we execute on our digital strategy, it was critical to engage with fintechs who are delivering in the market today, and that’s what we found in thirdstream.”
Real-time integration with core banking was executed as part of the initiative, with Bow Valley Credit Union using Celero Solutions’ API layer. This enables a typical 5-minute application process, from initial click to approval and account funding.
thirdstream provides retail and commercial deposit account opening and consumer lending solutions to almost 50 Canadian banks, trusts, and credit unions. Their IDV solutions verify consumers’ government-issued identification including driver’s license and passports. This can be combined with liveness checking and selfie-submissions, ensuring applicants are who they claim.
“thirdstream is focused on giving financial institutions the tools they need to attract consumers in an increasingly competitive environment,” said Keith Ginter, thirdstream’s CEO. “Our focus is to ensure we continually provide solutions that meet financial institutions’ digital banking needs, and that we are in-market presenting live, working solutions.”
Consumer and commercial solutions are available in-branch and online, running in some of Canada’s largest financial institutions. The industry-leading IDV capabilities are combined with document management capabilities to make sharing sensitive documents more secure. Where signatures are required, e-signature capabilities create a seamless experience for multiple account holders to verify identities and perform any signing responsibilities.
Bow Valley joins almost 50 leading Canadian financial institutions coast to coast in adopting the online and in-branch account opening and digital lending solutions thirdstream has deployed today.
About Bow Valley
Bow Valley Credit Union is committed to providing exceptional banking, features, services, security, and advice so our members can work towards getting everything they want from their money and their lives. We care about our members and their plans, hopes, and dreams. We are committed to both our communities and members, so much so that our members are at the centre of everything we do. It is woven into our DNA to provide a responsive, friendly, and effective means to financial security and we are always looking for innovative ways to enhance our members’ lives and help them be financially fit. To learn more, please visit https://www.bowvalleycu.com/.
About thirdstream, Inc.
thirdstream, headquartered in Lethbridge, Alberta, provides digital account opening solutions, online and in-branch, to over forty clients across Canada. From identity verification to account funding, thirdstream’s solution set supports consumer acquisition, business onboarding, and unsecured retail lending and credit card adjudication. The platform is cloud-based, designed for retail and business consumers, and financial institutions targeting consumers anywhere, anytime, from any device. To learn more, please visit www.thirdstream.ca.