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Canadian fintech ASAPP gains traction in market with omnichannel account opening and loan origination solution

November 27, 2017
ASAPP Online Solutions Inc. (ASAPP) is adding two new Canadian credit unions to the list of financial institutions using their omnichannel solution to offer automated online account opening and loan origination capabilities to current and prospective members. 

Access and Encompass Credit Unions join Northern Credit Union and Me-Dian Credit Union to leverage ASAPP’s user-friendly and powerful digital account origination tool.

Celero partnered with ASAPP in 2016 to quickly bring the company’s innovative and customizable solution to Canadian credit unions and help provide members the digital capabilities and functionality they are looking for and expecting now.

Last month, ASAPP launched a major software release of its omnichannel solution to significantly enhance their platform. ASAPP 6.0 allows credit unions to offer their members digital lending for secured and unsecured loans, including lines of credit and mortgages, with real-time approval and risk-based rate determination.

ASAPP’s hosted platform is fully integrated with Fiserv’s DNA core banking system, setting ASAPP apart from other solutions in the market. ASAPP also recently formed a partnership with Valeyo to be the first account origination solution to offer credit unions an integrated insurance sales opportunity. 

“There are a lot of financial institutions and software providers promoting their offerings as fully-digital lending solutions, however the reality is most of these products are limited to form data collection with a promise for follow-up from the contact centre,” said J.R. Pierman, president of ASAPP. ”ASAPP is different; we threw out the form, redesigned the data collection process, and dramatically enhanced the flexibility of the credit decision process in a member-first completely digital process. The result is back office efficiency gains, better credit decisions, faster lending processes, and a stronger member experience."

“Through carefully selected fintech partnerships like ASAPP, Celero is enabling credit unions to improve their ominichannel member experience and back office operations,” said Simon Vincent, Celero’s executive vice president of banking and omnichannel solutions and services. “Based on feedback from credit unions, Celero’s fintech partner solutions need to fully integrate with core banking and continually evolve through a clearly defined product roadmap. ASAPP’s solution with integrated lending and soon to be available insurance integration demonstrates their commitment to product development.”

Northern Credit Union received an Innovation Award from the Canadian Credit Union Association earlier this year for using ASAPP to power their online small business account and line of credit opening processes as part of their innovative Small Business Rocks program.

ASAPP has also been nominated for two awards and Celero has been nominated for one award at the 3rd Annual Canadian FinTech & AI Awards hosted by the Digital Finance Institute being held on Nov. 27 in Toronto.