• Mike Wojcik

Our new partnership with Libro Credit Union


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Providing sophisticated, efficient and convenient banking options is an integral component of Libro’s commitment to its Owners. This $3.8 billion credit union headquartered in London, Ontario is viewed as a leader in financial innovation with a real focus on coaching their Owners to help them grow prosperity. Libro is guided by ’a culture and philosophy designed to inspire financial happiness.’ Making it easy for Owners and prospective Owners to open accounts online from anywhere and from any device is in keeping with this culture and philosophy.


Online account opening is an increasingly pressing matter for banks and credit unions, but not all solutions are created equal, especially for a discerning FI like Libro. Libro wanted a seamless user experience that complied with all regulatory requirements and was easy to implement and deploy.


They found all of this and more in cumulus – our onboarding solution. cumulus is the most user-friendly account opening software in the Canadian market today. Its simple, paperless process takes less than five minutes and can be completed from any device or screen size. It’s also fully compliant with every current banking regulation and designed to anticipate and accommodate future requirements. This cost-effective solution can be implemented in weeks with minimal organizational impact and has both the ‘right now’ focus and far-reaching roadmap to support Libro’s immediate and long-term onboarding goals.


Ketelaars adds, ‘We are excited to partner with thirdstream, leveraging their online account opening technology. It will provide even more resources to better serve our communities, whether it’s opening a Libro account or gaining access to a financial Coach. The technology allows us to further carry out our vision of growing personal prosperity. At Libro, partnerships are very important and we collaborate with organizations who share aligned values and Libro’s passion for big ideas. This is why we’ve chosen to partner with thirdstream. They are building industry leading solutions to break down barriers and transform the experience when individuals and enterprises are looking to open, switch or change their accounts.’


Christian Clapton, CEO of thirdstream agrees. ‘Our team has worked very hard to design an onboarding platform that is continually advancing to tick every box, from ever-changing user expectations to the evolving needs of FIs and staying current with regulatory requirements. The fact that it has been adopted by Libro – one of Canada’s leading and most innovative credit unions – is very exciting for our company. We look forward to the future with Libro as a partner.


cumulus is gaining significant momentum among Canadian FIs seeking an end-to-end, lower cost solution that can be installed quickly and support their immediate and long-term onboarding goals. Regarded by many as the most innovative origination platform in the industry, it brings together in-branch and online account opening with the assurance of 100% compliance. Not only is it fully integrated with core banking, it also aligns front and back office operations, streamlines sales and administrative processes and delivers an outstanding, consistent experience across all of its branches and online channels.


About Libro Credit Union Libro is Ontario’s third largest credit union with $3.8 billion in assets under administration and more than 100,000 Owners across southwestern Ontario. As a co-operative financial institution with more than 70 years of history, Libro supports the well-being of people, businesses and communities by providing high-quality financial coaching and profit sharing.


Recognized as a 2016 Platinum Level Aon Best Employer in Canada, Libro is proud to support The Prosperity Project, which aims to grow prosperity in southwestern Ontario by mobilizing and inspiring collaboration, strengthening the financial health of people, families and businesses, and investing in our communities to help the region prosper together. Libro offers a full range of financial products and services for consumers, businesses and farms, including savings and chequing, investing, and borrowing. Great service can be experienced through 31 branches, online, telephone, mobile devices and a network of 4,000 ATMs across Canada.


For more information, visit libro.ca

#accountorigination #cumulus #LibroCreditUnion #onlineaccountopening

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