December News: Core Operating System Updates; Early access of InfoLend; Celebrating Team Growth and 10 Most Important Banking And Financial Technology Trends
Product Updates
System Upgrade in Progress: What’s Coming Next
In December, we began the rollout of the Core Operating System Upgrade, which will continue into January. This upgrade serves as a key foundation for the upcoming release of InfoAnywhere and will enable exciting new functionalities such as multi-factor authentication (MFA), document storage (InfoDocs), and built-in analytics (InfoInsights) in future releases. Stay tuned as we bring these enhanced capabilities to our platform!
InfoLend Update: Building the Future of Lending Together
2024 was a pivotal year for InfoLend. We made the bold decision to start from scratch, rebuilding InfoLend from the ground up with a cutting-edge modern code base to create a solution that is both enduring and innovative. This wasn’t just a technical overhaul—it was a collaborative effort.
We partnered directly with credit unions to gain a comprehensive understanding of lending from their perspective, ensuring that every feature and functionality reflects the real-world needs of credit unions and their members. The result? What we believe to be the first Loan Origination System (LOS) designed by credit unions, for credit unions.
Looking ahead to 2025, we’re thrilled to announce that the early access of InfoLend is planned for early 2025, with the full product release expected in Q2 2025.
If you’re interested in learning more about InfoLend or participating in the early access program, don’t hesitate to reach out. Together, we’re shaping the future of lending for credit unions.
Customer Success
A Year in Review and a Look Ahead to 2025
As 2024 comes to an end, it’s the perfect time to reflect on the incredible progress made by our Customer Success team over the past year. The team has worked tirelessly to strengthen client relationships, enhance support processes, and lay the foundation for even greater success in 2025.
December Update
In 2024, Infonancial implemented Hubspot and launched Support@Infonancial.com, enabling automated ticketing and workflows to better serve our Credit Unions. This has streamlined support processes and improved client experiences.
However, 2024 also came with some challenges as 3rd party connectivity and the ever-evolving infrastructure landscape led to some unforeseen outages. We’re committed to working with 3rd parties and Credit Unions to ensure proactive measures continue to be taken, while also improving our planning to mitigate the impact of outages.
Looking ahead to 2025, we are excited to offer additional enhancements such as ticketing forms, analytics, and system status updates to keep Credit Unions informed and empowered.
Client Spotlight
Finnish Credit Union: Honoring Heritage, Building Futures
At Finnish Credit Union, the name says it all—osuuspankki translates to "Cooperative Bank," and their operations reflect just that. With a rich history spanning over 60 years, Finnish Credit Union was registered as a closed-bond ethnic credit union in February 1958.
Today, they continue to offer the full suite of financial services you’d expect from any institution, but with a personal touch rooted in their Finnish heritage and strong ties to the European Union community. Their commitment to friendly service and a tightly knit culture makes them a standout in the credit union space.
This December, Infonancial CEO Tucker Sholtes and his wife, Hope, had the pleasure of attending Finnish CU's Annual Christmas Party. It was an incredible opportunity to meet many Infonancial users and gain a deeper appreciation for the strong Finnish traditions that form the backbone of the Finnish CU community.
We are honored to partner with Finnish Credit Union and look forward to supporting their mission for years to come!
What’s New at Infonancial?
Wrapping Up 2024 and Looking Ahead
As 2024 comes to a close, we’re thrilled to share some exciting updates and reflections on a fantastic year at Infonancial!
We kicked off the month with our Annual Renewal, a half-day event focused on strategy, planning, and reflection. This session gave us the chance to celebrate the year’s bright spots, set ambitious goals for 2025, and identify areas for improvement—all while enjoying some fantastic pizza!
The celebration didn’t stop there. We continued with our Annual Holiday Party, featuring a lively happy hour and dinner. It was the perfect way to reflect on a year filled with learning, growth, and success while gearing up for the opportunities ahead.
We’re also excited to announce some key milestones within our team:
Ryan Mody has officially stepped into the role of Chief of Staff, bringing strategic vision and collaborative leadership to help us navigate the opportunities and challenges of the year ahead.
Nabeel Alabed has been promoted to Software Developer after an impactful year as an intern. His contributions have been instrumental, and we’re excited to see him take on even greater responsibilities.
2024 has been a year of progress and celebration, and we’re incredibly excited about what’s to come in 2025. Here’s to another remarkable year ahead!
Industry News
FSRA Finds High Incidence of Misconduct Among Life Insurance Agents in Ontario
A recent report from the Financial Services Regulatory Authority of Ontario (FSRA) reveals major concerns about life insurance agents' conduct in the province. During 2022-2024, reviews of 319 agents uncovered issues including misleading information, coercion, and poor record-keeping. These violations resulted in regulatory actions—including license suspensions or revocations—for 35% of cases.
While the FSRA noted an increase in misconduct reports following the launch of their online reporting portal, this surge reflects better detection methods rather than an actual rise in misconduct.
The regulator now stresses the importance of needs-based sales practices and urges insurers to strengthen their agent oversight.
Want to read the full article? Click here.
Tech Trends
The 10 Most Important Banking And Financial Technology Trends That Will Shape 2025
With technological innovation, shifting consumer expectations, and regulatory developments reshaping the industry, credit unions face both challenges and opportunities when it comes to the payment landscape. Some of the trends for 2025: Embedded payments; Digital Wallets; Artificial intelligence; Sustainability and much more. The payments landscape is changing rapidly, and credit unions must adapt to remain competitive and relevant, to find out more about the other trends, click here.