Company Background: Ceremity recently partnered with a Houston-based Federal Credit Union to re-imagine the way it processes and approves loan applications. The Credit Union has nine branch locations in the greater Houston area with over 50,000 members. Offering low interest auto, small business, credit card, home, and many more loans, it also provides general banking services including checking and savings accounts as well as insurance.
The Challenge: There was a need to provide clients with mobile-friendly options for their banking needs, including loan applications.
Ceremity Solution: The credit union’s members, like most consumers, expect a modern, mobile-friendly technology from its bank. Consumers want to complete their banking needs anywhere, anytime, and from any device. In order to realize this vision, Ceremity first integrated with the credit union’s Core system created by Corelation. Ceremity then developed a customized application allowing credit union members to electronically apply for loans including auto, small business, and home. The mobile-friendly application prompts members to respond to specific questions to gather information including income, employer, Social Security Number, and more. It then seamlessly runs a credit check to complete the loan approval without the need for members to ever set foot at a physical branch.
Ceremity’s loan application platform not only integrates with Corelation, but a host of other Core systems leveraged by Credit Unions. This integration not only streamlines and expedites the loan approval process, but allows credit unions to add additional such as account opening, mobile banking, and others.