Published by PYMNTS – APRIL 10, 2024

PSCU/Co-op Solutions has teamed with Amount launch a digital lending suite.

The suite, dubbed Origination Solutions, is now in the pilot stage with two credit unions, the credit union service organization (CUSO) announced in a Wednesday (April 10) news release provided to PYMNTS.

“Today’s consumers expect immediacy and a frictionless experience, especially around less complex and higher frequency products,” PSCU said. “Yet digital account opening and credit card loan origination are both currently associated with a number of challenges, including a lack of automation, fraud, integration obstacles and outdated technology.”

Origination Solutions, the release says, removes these barriers via an automated process with secure transactions and integration with multiple systems to drive instant decisioning, creating a better experience for credit union (CU) members.

“Many credit unions have modernized their in-branch and contact center processes to meet member demand for immediacy, but other experiences still lag behind,” said Denise Stevens executive vice president and chief product officer for PSCU/Co-op Solutions.

With Origination Solutions, the organization said, users will get features to improve their experience, including instant account opening and instant lending, as well as the ability to quickly and easily apply for a card and “receive a decision and instantly provision a digital plastic to a mobile wallet for immediate use.”

The launch comes a little more than a week after PSCU/Co-op Solutions unveiled an initiative designed to foster collaboration between credit unions and FinTech companies