With Momentum 2024 just around the corner, we’re excited to announce that we are nearing the completion of our Proof of Concept for InfoLend 2.0, our cutting-edge Loan Origination System. During the conference, we’ll be offering live demos, showcasing how InfoLend 2.0 can revolutionize your loan origination process.
We invite you to join us at Momentum to explore the latest features, connect with our team, and see firsthand how InfoLend can streamline your operations. Don’t miss this chance to experience our newest innovations up close!
They say that simpler is often better; it certainly is true when it comes to integrating software. After working for years with the Infonancial core banking system, it is easy for us to take for granted some of the key advantages that we offer our partners. For example, when adding on third party services, it is key to properly test and ensure that those systems are fully compatible and working error-free. Our core banking system is the exact same program for each one of our clients, whether they are small or large. Once the first set of testing for a client is completed, we can be fully confident that our software will work for every other client; saving on the high cost and time commitments involved in completing thorough testing and certification.
We are often asked by non-clients how we can use the same banking system and still offer customization of features. Simply put, the Infonancial core system includes of a number of product modules that can be “turned on” for each client, depending on their needs. This also means that everyone gets the same updates and the same security features and upgrades.
Again, simplicity means we can properly address the needs of our partners and ensure that they have superior, and reliable services.
Founded in 1939, Oshawa Community Credit Union (OCCU) has grown into a trusted, member-owned financial institution with over $141 million in assets. For over 30 years, OCCU and Infonancial have proudly partnered to drive innovation and improve the member experience. OCCU combines modern technology with a personalized, relationship-driven approach, prioritizing trust and member connections rather than competing solely on rates or technology. With an inclusive membership that spans across Canada, OCCU continues to expand its community initiatives and strengthen its local impact. Looking ahead, OCCU aims to attract younger members while fostering strategic partnerships to enhance its offerings and support sustainable growth.
We are incredibly proud of the positive influence OCCU has had on the Oshawa community and are excited to continue collaborating on future innovations!
Read more about Oshawa Community Credit Union in Business View Magazine Here.
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We’re thrilled to unveil Infonancial’s refreshed look! Over the past few months, we’ve been hard at work updating our brand to better reflect the reliability and service you’ve trusted for over 30 years. Our new look also highlights our ongoing mission to drive the growth and success of Canadian Credit Unions by providing innovative technology solutions that empower their members to achieve brighter financial futures.
As seen in this newsletter, you’ll start noticing more of our new branding in the coming weeks and months. We’re excited to hear your thoughts, so don’t hesitate to let us know what you think!
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In the age of increasing digital fraud, fake credit unions are emerging as a new threat, misleading consumers with sophisticated websites that mimic legitimate financial institutions.
The Financial Services Regulatory Authority of Ontario has warned consumers that Ottawa Credit Union, listed online with an office at 99 Bank Street, Ottawa, is not a registered entity. Despite attempts to contact them, the regulator was unsuccessful. This is the third warning in two years about unregistered credit unions. Fake sites, possibly AI-generated, may be collecting sensitive financial data for identity theft.
For more details, read the full article here.
AI is revolutionizing mortgage origination by improving operational efficiency, document processing, and customer service. Unlike traditional automation, AI can learn from patterns to optimize tasks like document gathering and appraisal handling. However, there are risks such as bias, compliance issues, and “hallucinations” in decision-making. Despite these challenges, AI holds vast potential to boost productivity, but continuous monitoring is essential. Financial institutions should ensure proper controls and collaborate with AI experts to maximize its benefits.
Read more here.
