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| Press Release

Coast Capital Savings innovates online account opening with thirdstream

LETHBRIDGE, Alberta, Sept. 11, 2019 (GLOBE NEWSWIRE) -- Coast Capital Savings, Canada’s largest national credit union, in partnership with thirdstream, launched digital account opening earlier this year. As part of the credit union’s continued dedication to delivering a superior member experience, Canadians can become Coast Capital members and open accounts online in five minutes or less.

“Consumer needs are changing rapidly, our members want to bank where and when it works for them,” explains Jeff Wong, Chief Digital, Information and Technology Officer. “Over the past couple of years in working with thirdstream, we have been able to maximize the success rates of account applications and bring a new ease to becoming a Coast Capital member from wherever and whenever works best for you.”

thirdstream’s solutions allow Coast Capital Savings to deliver a seamless digital experience to potential new members. At the same time, thirdstream’s digital account opening platform provides employees increased efficiency when opening new memberships in branch.

Some highlights of the retail account opening process include:

  • Real time membership and account opening in less than 5 minutes
  • Full end-to-end integration, and access to digital banking immediately
  • Ability to fund accounts, and transfer pre-authorized payments as part of the self-serve account opening process

In addition to opening new retail accounts online, we are excited to announce the launch of the commercial solution to help businesses open accounts digitally. It is designed with customized specifications and offers end-to-end account opening. Innovative tools such as fraud prevention, address auto-completion and business verification highlight the accuracy for the auto-approval process and quick access to digital banking.

“As we continue to grow across the country, partnering with best-in-class FinTech organizations is essential to our success,” says Yana Melnichuk, VP, Digital Experience and Digital Banking Channel, Coast Capital Savings. “Partnerships like the one that we have with thirdstream help us innovate and deliver the very best member experience we can.”

thirdstream’s account opening solutions serve as the ‘front door’ to consumers searching for a financial institution.

“Consumers expect their financial institutions to provide fast and hassle-free account opening experiences,” says Keith Ginter, thirdstream’s CEO. “At the same time, we know financial institutions have regulatory compliance requirements that surpass most other forms of online commerce. Our solutions provide the experiences consumers expect, and provide our banking clients with the tools to combat fraud and drive down administrative costs. This way, they can focus on growing membership and serving account holders.”

About Coast Capital Savings
Coast Capital Savings is Canada’s largest credit union by membership and B.C.’s first credit union to become a federal credit union. Owned by its 572,000 members, Coast Capital offers banking and investment services digitally and through its 52 branches in the Metro Vancouver, Fraser Valley, Okanagan, and Vancouver Island regions of British Columbia. An Imagine Canada Caring Company and a Certified B Corporation in recognition of its social performance, Coast Capital invests 10 per cent of its bottom line in youth-focused community organizations, programs, partnerships and events. The credit union has been recognized as one of Canada's Most Admired Corporate Cultures™, and holds a Best Managed Companies Platinum Club designation. Coast Capital has a history of introducing innovative products to help their members achieve financial wellbeing including Canada’s first free chequing account from a full-service financial institution and Help Extras®, enabling members to invest in their future. To learn more, visit coastcapitalsavings.com.

About thirdstream
thirdstream, headquartered in Lethbridge, Alberta, is a leading provider of in-branch and online onboarding and lending solutions for consumers and business transactions. Serving clients in every province from Quebec to British Columbia, thirdstream’s onboarding experience solutions serve over 30 Canadian financial institutions, representing more than $330 billion in assets. thirdstream is continually evolving its product line. Clients pay a modest monthly fee for account opening solutions that offer ongoing and seamlessly delivered improvements. To learn more, visit thirdstream.ca or email George Hofsink, VP Sales and Marketing, thirdstream at george@thirdstream.ca. 

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