By Kyla Reed - April 17, 2024
Vibrant Credit Union: Breaking Industry Barriers with Embedded Lending
Growing competition is forcing banks and credit unions to rethink their revenue strategies. Read how one credit union used embedded
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Retail Banking
Retail Banking Overview
Gain new customers by creating experiences and products quickly and easily
Account Opening
Create journeys powering customer acquisition
Personal Lending
Design and launch personalized products quickly to meet customer needs
Mortgage Automation
Build tailored mortgage offers to win new customers
Small Business Banking
Small Business Banking Overview
Grow your small business customer base
Account Opening
Engage and onboard small businesses using frictionless digital journeys
Small Business Lending
Create relevant loan products to meet the specific needs of different business segments
General Insurance
General Insurance
Meet the need for new forms of cover and high-quality digital experiences
Small Business Insurance
Create personalized propositions that meet the unique needs of small businesses
Pet Insurance
Increase share of wallet with cover customers love as much as their pets
Embedded Finance
BNPL and Embedded Lending
Deliver lending products directly to where they are needed
Resource Center
Get insights from the latest customer case studies, whitepapers, webinars, and more
Customer Case Studies
Learn what our global customers are saying about the value of FintechOS
Platform Documentation
Comprehensive documentation for the FintechOS platform including release notes, APIs, and SDKs
Retail Banking
Retail Banking Overview
Gain new customers by creating experiences and products quickly and easily
Account Opening
Create journeys powering customer acquisition
Personal Lending
Design and launch personalized products quickly to meet customer needs
Mortgage Automation
Build tailored mortgage offers to win new customers
Small Business Banking
Small Business Banking Overview
Grow your small business customer base
Account Opening
Engage and onboard small businesses using frictionless digital journeys
Small Business Lending
Create relevant loan products to meet the specific needs of different business segments
General Insurance
General Insurance
Meet the need for new forms of cover and high-quality digital experiences
Small Business Insurance
Create personalized propositions that meet the unique needs of small businesses
Pet Insurance
Increase share of wallet with cover customers love as much as their pets
Embedded Finance
BNPL and Embedded Lending
Deliver lending products directly to where they are needed
Resource Center
Get insights from the latest customer case studies, whitepapers, webinars, and more
Customer Case Studies
Learn what our global customers are saying about the value of FintechOS
Platform Documentation
Comprehensive documentation for the FintechOS platform including release notes, APIs, and SDKs
First Bank has recently launched the SME Creditum app, with FintechOS as technology partner.
The app allows the bank to simplify the lending process. Thus, for legal entities in need of financing, the approval time of credit is reduced by up to 80%. It follows a successful initiative last year by First Bank to streamline the lending process for micro-enterprises with a turnover of up to €1 million.
The digital transformation was possible with the help of FintechOS technology, by aggregating data from multiple external sources and automatically analysing the information collected.
“SME Creditum and Micro Creditum are digital solutions that enable the transition from manual processes to optimizations based on the latest technologies, and innovations that support and strengthen our bank’s strategy, “Digital with a human touch”. There has been a fundamental change in the way business is conducted. Consumer behaviors have changed and, naturally, so have their needs. To remain relevant is to follow closely the journey taken by a customer in relation to the bank and to make this customer journey coherent and relevant. When a client evaluates a financial institution, they no longer compare the banks with each other, but the experiences offered by them. Therefore, the experience we offer to the client is essential.” Mădălina Teodorescu, Vice President, First Bank.
“The needs of SMEs evolved during the pandemic, and the need to quickly access finance has become a key factor for many companies. To meet the demand banks quickly turned to fast, flexible and personalized lending solutions. We are honored for being able to accompany First Bank in this process. FintechOS has also adapted quickly to the new needs of the financial industry, and our solution offers even more agility to the process of personalization of products and services. The partnership with First Bank for SME Creditum app launch confirms our common mission, that of being truly customer-centric organizations.” Andrei Găman, VP Commercial Europe FintechOS.
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About FIRST BANK
First Bank offers a wide range of financial products and services to individuals, legal entities and small and medium-sized businesses.
First Bank has its headquarters in Bucharest and operates through 52 branches, with over 130,000 active customers. For more information, we invite you to visit www.firstbank.ro
Call Center First Bank – 021 303 69 69.
Video Bank https://firstbank.ro/videobanking
About FintechOS
FintechOS is leading a paradigm shift in the way financial products and services are created, making banks and insurers truly customer-centric.
It consolidates critical data from multiple sources, such as existing databases and ecosystem APIs, this rich information is automatically entered in every step of the consumer experience, resulting in a truly personalized offering. FintechOS technology integrates seamlessly into existing IT systems, and low-code tools help organizations deliver personalized customer experiences.
These capabilities relieve customers of the effort to tailor products, services and interactions for a single segment; increase the return on investment and reduce the time to market.
FintechOS is present in 20 markets and four continents. It manages more than $ 100 billion in assets and has offices in London, Amsterdam and Bucharest. For more information, visit https://fintechos.com/.
FintechOS is the global leader in fintech enablement, on a mission to make fintech innovation available to every company. As the world grows increasingly complex, FintechOS strives to simplify and accelerate financial technology so anyone can build, launch, service, and expand new products in weeks, not months or years. The FintechOS platform empowers banks, credit unions, and insurers of any size to grow revenue, lower operating costs, and achieve a faster time to value without dependency on core infrastructure and costly tech talent. Headquartered in New York and London, FintechOS has partnered with some of the world’s best brands, including Groupe Société Générale, Admiral Group, Oney, eMag, Deloitte, EY, and PWC.