Payments
Oregon State Credit Union intros online account opening, loan application solution
February 21, 2024
Oregon State Credit Union partnered with Bankjoy to provide its Online Account Opening and Online Loan Application products to its more than 142,000 members. With these tools, new members can onboard on mobile, online or in-branch, according to a press release.
Both of these solutions integrate with the credit union's digital banking platform provided by NCR and its core processing platform. The overall goal is to allow members to apply for loans or onboard on their preferred channel.
"Generating steady deposit growth, as well as loan growth, while managing the cost of funds is challenging in today's economic climate, where interest rates remain higher than usual. Meanwhile, fewer people are stepping foot into branches. One global survey reveals that more than 25% of consumers are unlikely to ever enter a physical branch again," Michael Duncan, CEO of Bankjoy, said in the release. "This means digital onboarding channels are more important than ever and we are thrilled to empower Oregon State Credit Union with the necessary tech to continue on their impressive growth trajectory."
