SAN ANTONIO, TX, USA, June 2, 2024 /EINPresswire.com/ -- Service Credit Union witnesses 200% growth and true digital transformation thanks to strategic partnership with CreditSnap.

CreditSnap, an award-winning Lending and Deposit Account Opening platform, announces today a strategic partnership with Service Credit Union, the largest credit union in New Hampshire. With more than 350,000 members and proudly serving service members and their families in the US and on bases worldwide, Service Credit Union has always filled big shoes.

Service Credit Union embarked on an ambitious digital transformation journey, and chose to partner with CreditSnap to achieve that goal. This can take most credit unions about 3 to 4 years, but Service Credit Union accomplished it in just under 5 months. The first phase of this ambitious journey ended in February with the launch of Digital Deposit Account Opening.

With CreditSnap’s Deposit Automation platform, Service Credit Union achieved:
:
➔ 200%+ growth in deposit accounts

➔ Increased End to End Automation in Account Bookings: from 0% to 55%

➔ Increased instant fundings - from 0 to now 70%+ (of the approved accounts)

➔ Click here for full case study

“Digital transformation is a critical ingredient for us to serve our members worldwide” said Tyler Kuhn, VP Marketing and Digital Strategy, Service Credit Union. “ We know that the ingredients for a successful Digital Transformation are to put together the right team internally and to find trusted partners. We chose to work with CreditSnap after evaluating several platforms, and so far, that is paying off as we are seeing extraordinary results from our Digital Deposit Account Opening. We are now looking forward to extending the transformation to our remaining product portfolio.”

“Digital transformation has been a widely misused buzz word for a long time. Solutions have delivered nothing but that, and credit unions have come to think that is what digital transformation is. It really takes leaders like Tyler to visualize a full transformation. We love this partnership because Service Credit Union found use in nearly every feature in our Deposit Account Opening platform. The industry talks about Neo Banks as the only ones that can deliver Instant Account Opening, but I beg to differ. With a solution like CreditSnap, any credit union and bank can deliver Instant Deposit and loan automation to their customers, so long as they are willing to adapt and are able to visualize the experience that their customers deserve,” said Deepak Polamarasetty, CEO of CreditSnap.

“Our decision to enter into this partnership is driven by CreditSnap’s automation and integration capabilities, and the flexibility that they built within their platform. We know our needs will change over time, and we need a partner that can respond to our changing needs, including new 3rd party integrations,'' added Tyler Kuhn.

The partnership between New Hampshire’s largest credit union and CreditSnap represents a major milestone to technology innovation in the credit union industry. This collaboration emphasizes the importance of strategic technology partnership and the need to move away from legacy systems that hold innovation back. Features that made a huge difference include Automated Fraud Detection, ID Verification w/ Selfie, Instant Approvals, Instant Agreements, Real Time integration with Core system, Instant funding choices and Online Banking Pre-Registration.

If you are curious about what CreditSnap has to offer, schedule a hassle-free demo with us today at https://www.creditsnap.com/schedule.

For all other inquiries, contact our Media Relations team at
contact@creditsnap.com
13333 Blanco Rd, Ste 206
San Antonio TX 78216

About CreditSnap

CreditSnap’s fintech SaaS solution allows Credit Unions and Banks to deliver end-to-end automation in Lending and Deposit account opening experience to their customers. CreditSnap has processed over 2.7 million loan and deposit applications, and consistently delivered efficiency and automation in account opening operations for financial institutions. For more information, visit us at www.creditsnap.com or get in touch at contact@creditsnap.com.

About Service Credit Union

Service Credit Union is dedicated to providing a banking experience that improves our members’ lives and the communities in which they live. Established in 1957 to provide affordable credit to the Pease Air Force Base community, and now the largest credit union in New Hampshire, with over $5 billion in assets and 50 branch locations in the New England Region and Germany, we continue to provide a better future to our members all over the world. To learn more about Service Credit Union, please visit servicecu.org.

Deepak Polamarasetty
CreditSnap Inc.
contact@creditsnap.com
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