Veridian Credit Union revamps digital channels with Alkami Technology’s ORB platform
Veridian Credit Union, a $2.95 billion credit union in Iowa, is implementing Alkami Technology’s ORB platform for digital channels. The new solution will replace a legacy set-up, which includes a mobile banking offering from another US provider, Clairmail (now part of Monitise).
Clairmail was selected by Veridian back in 2009. In 2012, the vendor was taken over by Monitise.
The new solution – ORB (which stands for “Online Relationship Builder”) – will be interfaced to Veridian’s core processing system from Fiserv.
According to Alkami, its ORB offering will provide the credit union’s 190,000+ members with “an elegant and customised user experience”.
The new solution will support operations across all devices and functions including retail, business, mobile, bill pay, personal finance management (PFM), person-to-person (P2P) payments and marketing.
The vendor says that in addition, Veridian can build its own apps and integrate new functionality and features into the platform for all lines of business.
Brett Engstrom, web services manager at Veridian, comments that the credit union strives to deliver “innovative and simple-to-use products and services” to its members, and feels that Alkami is the best choice for this. He describes the vendor as “a collaborative partner” with a “reputation for having a partner mentality” and “dedication to research and development”.
The ORB platform receives monthly software updates.
As mentioned above, Veridian will be able to carry out marketing campaigns using ORB. The platform has an integrated content management system (CMS) that enables one-to-one product marketing and visibility into cross-sell opportunities, in a timely and relevant manner, states Alkami.
Stephen Bohanon, founder, the vendor’s chief strategy and sales officer, observes: “Consumers increasingly expect all of their digital interactions with content and service providers to be of the same quality as their interactions with organisations like Netflix and Amazon. Forward-thinking institutions like Veridian have recognized this shift in consumer expectation.”
Who is Alkami?
Alkami was set up in Texas in 2009. It’s Online Relationship Builder (ORB) digital banking platform has enjoyed a rapid take-up among low- and mid-tier domestic credit unions.
The vendor claims that its offering has been selected to replace the online banking solutions from every one of its major competitors in the space.
ORB users include Vibrant Community Credit Union, Baxter Credit Union, Inspirus Credit Union, Credit Union of America and Educators Credit Union. There are 50+ takers overall.