Bits In Glass digitizes account openings for Coast Capital Savings to enable nationwide expansion

Rebecca DakinNews

Bits In Glass digitizes account openings for Coast Capital Savings to enable nationwide expansion

Edmonton, AB – September 23, 2020 – Bits In Glass, a software consulting firm helping companies digitally transform their operations, is proud to announce that its client, Coast Capital Savings, Canada’s largest credit union, has digitized its membership opening process, with the help of Bits In Glass, to support its expansion across Canada.

Coast Capital’s manual account opening process used to take upwards of two days for employees to complete, while the new digital account opening process now takes less than five minutes, and requires little to no employee intervention,” says Aaron Wentzell, Director of Professional Services with Bits In Glass. “The result has also driven a 30 minute time saving for in-branch account openings.”

In 2018, Coast Capital Savings became the first credit union in British Columbia to receive approval to operate federally, and now offers both personal and business banking services throughout Canada. Since digitizing its account openings, Coast Capital has opened over 20,000 new accounts, translating to 10,000 hours of employee time saved.

“Bits In Glass has been an essential partner on our digital transformation journey. The knowledge their developers brought was really impressive and they took the time to understand our business and our future goals to set us up for success,” said Asim Masood, Director of Applications with Coast Capital Savings. “We thank them for enabling us to expand our operations to offer all our services digitally, across Canada.”

Previously, Coast Capital employees had to manually work through several fraud prevention steps to open a new account, which required verification from several third parties and took upwards of two days to complete. This has now been transformed into a fully digital process and has been streamlined across both the online and in-branch account opening process. 

Key upgrades:

  • Fraud prevention integrations for online account openings: Automatic identity verification via TransUnion and Equifax, and address verification via Canada Post. 
  • Coast-to-coast expansion: Captures both the province and age of an applicant, and accepts or declines the application based on the legal age required provincially. It also identifies applicant addresses, Social Insurance Numbers (SIN) for individuals, and tax identification numbers for businesses. 
  • Online account openings for businesses: Allow for more than one person to apply (upwards of 10+ to be exact), a necessary distinction for a business applicant. Additionally, added functionality for business applicants to select which type of business ownership they’re applying under and the system recognizes what kinds of associated fraud prevention steps are required.

To learn more about Coast Capital Savings’ new digital account openings for nationwide expansion click here.

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About Coast Capital Savings
Coast Capital Savings Federal Credit Union is a member-owned financial cooperative headquartered in Surrey, British Columbia, Canada. It offers personal banking services including savings and chequing accounts, mortgages, loans, lines of credit, credit cards, term deposits, and registered savings accounts. Coast Capital also offers business and commercial real estate services including chequing and saving accounts, American chequing accounts, business credit cards, merchant payment services, term loans, interim lending and long-term commercial mortgages, letters and lines of credit, and automated funds transfers. Learn more at coastcapitalsavings.com.

About Bits In Glass
Bits In Glass is an award-winning software consulting firm helping companies digitally transform their operations to outpace the competition, drive rapid growth, and deliver superior customer value. Our expert consultants excel at solving complex technical business transformation, automation, and connectivity problems across multiple industries and verticals; specializing in healthcare, financial services, and insurance. Trusted by hundreds of clients, we’re the partner of choice for many business transformation projects, working with market leaders who are disrupting and driving digital transformation across all aspects of modern business. Learn more at bitsinglass.com.

Media contact
Rebecca Dakin
rebecca.dakin@bitsinglass.com
1 (587) 324-1330