Partnership offers seamless digital lending experience and expands non-interest income opportunities
Cotribute, an award-winning, next-generation digital account opening and onboarding platform helping financial institutions grow deposits, loans and memberships, announced its partnership with TruStage to offer Integrated Payment Protection features to its Consumer Account Opening and Consumer Loan Application Solutions.
“TruStage is thrilled to partner with Cotribute to offer their customers our innovative Integrated Payment Protection products, says TruStage Vice President of Lending, Corrin Maier. “This collaboration reflects our commitment to providing people with comprehensive, reliable solutions that enhance financial security and peace of mind. Together we are helping people reach brighter financial futures.”
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The Integrated Payment Protection features have offered about two million applicants loan protection products such as payment protection, including Credit Insurance and Debt Protection, GAP and Mechanical Repair Coverage, with 40% of members engaging with payment protection products. Integrating payment protection provides detailed product education and personalized price estimates, enabling members to learn more about the products directly in the loan application portal and opt-in to the service without the hassle of navigating multiple platforms.
Philip Paul, CEO of Cotribute, said, “Cotribute is dedicated to offering solutions that empower credit unions to offer the best experiences possible to their members. TruStage’s payment protection solution is seamlessly integrated into Cotribute’s account opening and loan application modules, and this will offer a simple, user-friendly and fraud-proof process to our clients, deepening the relationship with their members.”
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Cotribute is the next-generation platform for digital account opening, loan applications, and seamless onboarding empowering financial institutions to deliver a highly configurable and efficient onboarding experience. Its platform automates decisioning, leveraging real-time data for instant, data-driven approvals or denials. With Cotribute, credit unions can accelerate client acquisition for both consumer and business accounts, creating a digital experience that’s fast, secure and personalized.
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Source –Businesswire
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