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    Three fintech solutions for COVID-19 challenges

    April 09, 2020

    COVID-19 has highlighted the wide array of financial needs and challenges from credit union members all across the country.

     

    For example, there has been an increase in members seeking to move money to credit unions that have greater deposit guarantees than the big banks. Some members are currently facing financial hardship looking to access funds without having to resort to payday lenders. And others are looking for financial advice and struggling with call centre hold times from their financial institutions.

    Celero has strong partnerships with fintechs that are providing innovative solutions to help you overcome some of the challenges you may be facing. And a few of our partners have also modified their offerings to get these solutions to market quickly. Below we’ve highlighted three of our fintech partner’s solutions that can help you during COVID-19:

    1. Deposit, lending and small business solutions

    ASAPP, is offering a four-week ‘go live’ digital solution to offer deposit, retail lending and small business products, and are extending their resources to complete the installation, setup and product configuration themselves.

     

    ASAPP has also streamlined their user acceptance testing (UAT) processes to help your team approve this solution within your environment, and are offering an optional preset digital campaign to ensure your credit union can market this successfully.

    1. Short-term lending

    QCash, in response to the financial stress many Canadians are facing, have also shifted their offering to allow for quicker speed to market for their small-dollar, short-term lending solution. Being able to standardize the implementation process, QCash is prepared to help you offer their solution to your members in as quick as four weeks. Especially in cases where you’ve had to close your branch doors, this solution can help you provide this value to members over the phone.

    1. Call centres volumes

    Interface.ai, our intelligent virtual solutions partner has also modified their offering to specifically address some of the challenges related to call centre volumes that you may be facing.

    With the increased demand of call centres, Interface.ai’s solution can be setup in one day and requires no integration. Credit unions can advise their members to phone a specific number, and instantly be in contact with an AI assistant to help them progress through their transactional queries.

     

    If you’d like any more information on these solutions to offset some of the challenges you’re experiencing, please reach out to your Account Executive.

     

    Upcoming COVID-19 webinar

     

    We recognize that it’s not business as usual at your credit union, but your members still need to access your key services and functions. To share some of the ways we can support, we’re very pleased to be offering a webinar  to discuss best practices and highlight solutions like the ones mentioned above. Join us to hear from our experts on security, digital transformation and more who will be sharing great information related to their disciplines.

    Stay tuned for an email on how to sign up for that webinar.

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