Following this collaboration, United State Bank’s customers will be allowed to have access to Bankjoy’s end-to-end digital banking platform, including its suite of mobile and online banking features, integrated loan applications, as well as other advanced capabilities.
The bank is set to incorporate Bankjoy’s online account opening product (OAO), which will be leveraged to enable United State Bank to onboard new customers in a seamless and quick manner. It will also use the product for driving its deposit growth, aiming to go live with Bankjoy’s new digital banking platform and OAO tool in Q4 2023.
Bankjoy’s platform will incorporate directly with the core banking system of United State Bank, entitled SHAZAM’s Cardinal Core. Bankjoy will provide more than 120 integrations with third-party vendors and other core banking platforms, aiming to ensure a frictionless and secure overall digital banking experience for users across numerous channels.
US-based fintech firm Bankjoy offers its customers and partners multiple tools and products, including modern banking technology, mobile banking services, online banking solutions, and banking APIs to banks, financial institutions, and credit unions. The company had several partnerships in the last couple of months, covering multiple geographic areas around the world.
In April 2023, the mobile banking provider announced its integration with Fiserv Portico, in order to deliver an improved digital banking experience to its customers. Following this integration, credit unions that were using Fiserv Portico had the possibility to benefit from enhanced flexibility for deploying Bankjoy’s digital banking products for their partners and clients.
Furthermore, the partnership allowed more credit unions to deliver an enhanced online and digital banking experience. This was possible with the usage of a modern UX that aimed to attract new users while strengthening the connection with its existing members.
As Bankjoy also had integrations with several third-party clients, as credit unions of Fiserv Portico were given more opportunities to proactively address members’ preferences, needs, and demands with their technology.
Earlier in 2022, Bankjoy announced that it incorporated Allied Payment Network’s digital money movement tool into its banking capabilities. Through this partnership, credit union members that were using Bankjoy’s banking platform were given permission to seamless access to Allied’s full suite of digital payment services. These included A2A and P2P payments, FlexPay bill pay and the PicturePay click-and-pay application, digital document storage, small business payments, as well as loan payments from external lending institutors.
The aim of the collaboration was set on providing credit unions an improved way to respond to mounting competition from alternative payment sources, such as BigTech and retail organisations.
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