Bankjoy, a digital banking provider, announced an integration with Fiserv Portico, a full-service account processing system. The integration will enable credit unions that work with Fiserv Portico to offer their members an online and mobile banking experience with a modern, intuitive UX.
Benefits of Integration for Credit Unions and Their Members
This integration will have a significant impact on both credit unions and their members. Credit unions using Fiserv Portico will now be able to offer an online and mobile banking experience that can attract new members and deepen current member engagement. The integration will enable these credit unions to provide a user-friendly interface that is accessible and easy to use. Members can easily access their accounts, check balances, transfer funds, and pay bills online or via the mobile app, all without having to visit a branch.
Impact of Integration on Credit Union Growth and Member Engagement
The integration with Fiserv Portico will expand the reach of Bankjoy’s services, enabling them to serve more credit unions across the United States. By partnering with Bankjoy, credit unions can differentiate themselves by offering more modern digital banking solutions. This will not only help credit unions attract new members but it will also deepen member engagement, resulting in higher member retention rates.
Comments from Bankjoy CEO, Michael Duncan
“Investing in a truly cutting-edge digital banking solution can seem out of reach for institutions without extensive engineering resources and IT budgets,” said Bankjoy CEO Michael Duncan. With this integration, however, Bankjoy brings sophisticated digital banking solutions to smaller credit unions that might not have the resources to create their own platforms.
Description of Bankjoy’s services for credit unions
Bankjoy provides a range of digital banking services for credit unions, including mobile banking, online banking, bill pay, e-statements, and alerts. Their mobile banking app offers member self-service through fingerprint or facial recognition login, digital account opening, loan application, e-signatures, remote deposit capture, account aggregation, card management, and person-to-person payments. All their solutions are designed with the user experience in mind, offering a seamless and secure banking experience to members.
Statistics on digital banking log-ins and revenue growth
According to research from McKinsey & Company, the top-performing financial institutions receive an average of 24-28 digital banking logins per account holder every month. These digital banking customers are driving revenue growth by an average of 10% to 15% each year. By offering modern digital banking solutions, credit unions can tap into this trend and grow their revenue as well.
Potential Revenue Growth for Credit Unions Using Bankjoy’s Services
By partnering with Bankjoy for digital banking solutions, credit unions can position themselves for revenue growth. Partnering with a reliable digital banking provider allows credit unions to focus on member engagement, product development, and community outreach – all essential elements to attract and retain members.
Bankjoy’s Integrations with Third-Party Partners
Bankjoy has also secured out-of-the-box integrations with third-party partners ranging from Allied Payments and Savvy Money to Vertifi and UrbanFT. These integrations allow Bankjoy to extend its digital banking capabilities beyond the standard features and provide innovative services to their clients.
Overall, the integration between Bankjoy and Fiserv Portico will have a significant positive impact on credit unions and their members. Credit unions will be able to provide a modern digital banking experience that is easy to use, and members can conveniently manage their finances from the comfort of their own homes. With the added benefit of potential revenue growth, partnering with Bankjoy is a smart move for credit unions looking to compete in today’s digital world.
