First Tech Credit Union, a Credit Union for workers in the ICT sector has launched a fully automated, compliant, and digitised solution to allow new members to sign-up and avail of its innovative financial services nationwide. Adjusting to face-to-face restrictions due to Covid 19 and enabling remote onboarding of members regardless of their location, First Tech Credit Union is continually striving to deliver a better experience for its members and make it as easy as possible for them to engage with their Credit Union. Digitising the onboarding and engagement experience is very positively accepted and welcomed by their tech-savvy customers, who require a secure, convenient, and accessible solution to meet their financial needs.
“Applicants can sign up to our services completely online and the implemented solution will ensure that satisfying CBI / AML needs is an easy and seamless experience. It will capture and validate member identities as well as allow us to manage members’ details within our core banking systems. We have explored many different solutions and were pleasantly surprised with the speed and ease at which the ID-Pal Identity Verification solution was live. We were set up within days, with no effort from our technology resources. This solution is embedded on our website, which is a crucial medium for engaging and communicating with our members, who live and work throughout the country.” – Brendan Synnott, CEO, First Tech Credit Union.
“ID-Pal is delighted to work with First Tech Credit Union and be a part of this important and innovative digital shift. Working with numerous Community and National Credit Unions throughout Ireland, UK and US, our solution is designed to focus on the core competencies of Identity Verification, delivering a robust compliance solution that is also user-friendly and seamless for the Credit Union members. The ID-Pal platform is ISO27001 accredited which guarantees the highest quality security. We have significant interest in and use of our solution from Credit Unions as they look to adapt to the changing landscape of Covid 19 whilst maintaining unwavering focus on the security of member data in compliance with CBI. We are excited to work with First Tech and the Solution Centre for this important digital initiative that will benefit both the business and its members.” – Richard Coady, Head of Sales at ID-Pal.
Solution Centre have created customer journeys for credit unions that give a seamless experience to potential borrowers and membership applicants that are helping loan book growth by putting credit unions on an even technological playing field with other lenders.
“We’re creating journeys that put the customer first. The pandemic has put some impetuous on making sure they can get the service they expect from online platforms. While it was necessary before the crisis, virtualisation of these processes will be entirely essential to maintain credit union competitiveness in the future” – Kevin Johnson CEO, Solution Centre
First Tech Credit Union joins a growing stable of credit unions now offering remote onboarding using both Solution Centre customer journeys and ID Pal’s identity verification platform. Growing the lending area of the business is a key strategic goal of the credit union and the first step to reaching this goal is to make the joining process as frictionless as possible.
About First Tech Credit Union
Originally established in 1961 as the Civil Service Credit Union and later as the Telecom Eireann employees credit union, in 2015, following a period of expansion, the Central Bank extended First Techs Credit Union membership remit to include ICT Sector Employees.
Today, as Ireland’s ICT Credit Union, First Tech provides a variety of competitive Loan Facilities and Financial Account Services to employees in the; Computer, Software, Telecom, IT, On-Line and Social Media sectors including global brands like; Microsoft, Hewlett Packard, Vodafone, Ericsson, Symantec and PayPal. With an increasing membership of over 15,500 nationwide and assets of in excess of €220million, First Tech Credit Union has provided expert financial services to the communications industry for 60 years.
ID-Pal is an award-winning ID&V solution that enables businesses to verify the identity of customers and meet their AML/KYC compliance requirements remotely. The platform requires no integration and can be up and running within a day. Customisable to the specific needs of credit unions, the solution eliminates the complexity, cost, timelines and risk associated with regulatory compliance. ID-Pal’s blend of best-of-breed technologies and seamless user experience delivers the highest first-time pass rate, with 93.5% of customers being verified in real-time. We are working with numerous Credit Unions across Ireland to help them continue business as usual during these challenging times and to attract younger members through an innovative, digital-first process. For more information on this RegTech100 company and to get a free customised demo, please contact: Richard Coady (e-mail: [email protected])