Candescent powers digital onboarding for banks and credit unions

By Vriti Gothi

Candescent has launched enhanced onboarding capabilities within its market-leading platform, Candescent Terafina. The new release gives banks and credit unions unprecedented flexibility to design, control and optimise the account opening journey, marking an industry first.

The latest upgrade introduces intelligent templates and adaptive post-open workflows that allow financial institutions to streamline the process, reduce friction and deliver a personalised customer experience from the very first interaction. By reimagining the sequence of account opening, institutions can now minimise initial data entry while seamlessly moving optional actions, such as debit card selection and online banking enrolment, to after the account has been activated. This modernised flow strengthens conversion rates, enhances customer satisfaction and preserves both compliance and back-office efficiency.

The launch comes at a time when customer expectations for speed and simplicity are reshaping digital engagement. Research indicates that nearly one in four consumers open a new financial account annually, yet more than a third abandon the process if it is too lengthy or asks for excessive information. With Terafina’s configurable workflows, banks and credit unions can offer a faster, smarter and more intuitive onboarding experience that meets customer expectations without compromising trust or security.

Gareth Gaston, Chief Product Officer at Candescent, said, “Financial institutions have been asking for a faster, easier way to open new deposit and loan accounts for their customers. With Candescent Terafina’s first-of-its-kind configurable templating capabilities, financial institutions have true control over where they place pre- and post-account opening requirements. Offering account onboarding experiences that have intelligence as well as speed is key to growing revenue, maximising applications and building positive relationships from the start.”

The new capabilities also demonstrate how Terafina is evolving beyond a technology solution to serve as a strategic enabler of digital transformation. Features such as enhanced support for joint applicants, modern compliance automation, intelligent security through name matching, and tailored back-office roles create an agile yet secure foundation for future growth.