Me-Dian Credit Union’s primary focus is to serve indigenous communities across Manitoba. This creates challenges, as many of their members live in remote locations. The member sprawl, consumer demand for instant access and the proliferation of mobile technology, made it obvious that they needed to find ways that reduce friction in the member journey. The leadership team began working with Celero in an effort to accelerate their digital transformation roadmap.
“The ability to provide our members with ubiquitous access to financial products was a strategic priority for our credit union” said Glen Mazur, CEO of Me-Dian Credit Union, “with Celero’s help, we have been able to bring member-facing, fintech solutions, which address our member’s needs, to market quickly. Like most credit unions, we focus on delivering a personalized and sophisticated member experience and solutions like QCash help us exceed expectations.”
The most recent milestone on Me-Dian’s roadmap, was being the first to integrate into Celero’s open API digital ecosystem and connect to QCash, a white-label solution that can provide a credit union with a flexible, adaptable digital lending platform. The solution provides easy access to small-dollar, short term loans that can help members improve credit scores, build upward mobility and gain access to more traditional lending products.
“We have worked with Celero to integrate our digital lending solution into their connectivity platform to make speed-to-market and integration easy,” says Ben Morales, CEO of QCash. “Our cloud-based, automated lending solutions can approve a loan with no credit check in 60 seconds.”
Integration of platforms is quick with Celero’s open API platform
Me-Dian is the first credit union to connect their DNA core banking system to a third-party fintech solution through Celero’s open API platform. Celero’s digital ecosystem provides an affordable way for financial institutions and solution providers to quickly provide members with new capabilities without the complexity of managing different standards for sharing data between products and partners.
“We see the limitless potential that fintech integration and open APIs can bring to the financial services industry and we have readied ourselves to help Canadian credit unions take advantage of them,” said Simon Vincent, executive vice president of Banking and Omnichannel Solutions and Services at Celero. “Our digital integration capabilities will improve speed to market for customized and third party fintech applications and can fast track a credit union's omnichannel strategy.”
Celero is a leading provider of Information Technology solutions to credit unions and other financial institutions across Canada. Included in the 2018 IDC Top 100 FinTech Rankings, Celero provides complete banking solutions, IT planning, systems integration, hosting, support, and consulting services as well as business analytics solutions and expertise. Celero meets the unique needs of financial institutions and delivers world-class reliability and security through its Canadian-based data centres, employees, and operations. For more information, visit celero.ca.
About Me-Dian Credit Union
Me-Dian Credit Union is a modern, full-service financial co-operative that focuses on the Indigenous community within all of Manitoba. As a co-operative, the people who use our services - our members - are also owners and shareholders. Members have a say in how Me-Dian Credit Union operates. Me-Dian is responsive to the needs of members, no matter where they live or how they choose to access our services. For more information, visit www.mediancu.mb.ca.
About QCash Financial
QCash (@QCashFinancial) is a leading financial technology provider focused on helping credit unions create stronger, richer, more personalized relationships with consumers. Built from the ground up for financial services, the cloud-based QCash lending platform empowers credit unions to enhance revenue and operational efficiency, while meeting clients’ needs. The company, which is a credit union service organization (CUSO), provides automated technology to originate small-dollar loans using a proprietary relationship-based underwriting decision engine. It’s a fully automated and an easy to use digital user experience, with just “six clicks” to funding in 60 seconds with no credit check, if approved.
QCash Financial, a wholly owned subsidiary of WSECU in Olympia, WA. Founded in 2015, QCash was awarded the Financial Times 2017 Future of Fintech Innovation Award. For more information, visit www.Q-Cash.com.
Celero is a leading provider of digital technology and integration solutions to credit unions and financial institutions across Canada. Clients trust Celero’s proven track record delivering innovative banking technologies, digital and payment solutions, cloud computing, outsourcing, IT and advisory services.
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