Use case: Online account openings
Goal
Coast Capital Savings is a member-owned federal credit union offering personal, business, and commercial real estate banking services. In preparing to expand across Canada, Coast Capital was looking to improve its online account opening process for both individuals and small businesses.
Challenges
- Employees were spending days working through unnecessary manual fraud prevention steps for new online account openings
- Needed to offer online account openings for businesses
- Create a streamlined customer experience online and in-branch
Solutions
- Added essential fraud prevention and identity integrations
- Created easy-to-use online account opening for businesses
- Automated the online account opening processes across provinces
- Aligned online and in-branch processes
Results
- Fraud prevention process went from 2 days to <5 mins
- Drove a 30 minute time saving for in-branch account openings
- 20,000+ new accounts
- 10,000+ hours of employee time saved
