back Back

Engage partners Caroma on the digital office solutions for Credit Unions

By Joy Dumasia

July 08, 2021

  • Engage
  • Europe
Share

The UK’s largest supplier of payments technology to credit unions, Engage, announces its exclusive partnership with Caroma to deliver the most comprehensive back-office capabilities for the community banking sector. 

This collaboration is the latest addition to Engage’s DASHboard ecosystem, an end-to-end cloud-based digital banking, payments and back-office solution that revolutionises operations for credit unions. These can expect to see efficiency cost savings, including an immediate reduction in workload and administration duties. The new system includes: 

  • Automated lending & decision-making tools 
  • Advanced member communications 
  • Digital document distribution and e-signing 
  • Marketing tools 
  • Automatic bank payments and receipts reconciliation 
  • Full accounting and KPI module providing up-to-the-minute management information 
  • Automatic regulatory reporting 
  • Integrated Real-time Data Analytics and Data Modelling 
  • Automated Credit Control

The white-label solution can be customised for each credit union, delivering benefits including a comprehensive online members area (similar to digital banking), a branded digital mobile app and even instant decisions on loan applications 24/7, 365 days a year. 

It integrates seamlessly with the Engage bank payments platform. It provides credit unions with unique sort codes and account numbers across all their products and access to payment services, including low-cost faster payments, direct debits, and credit union branded Visa debit cards. 

Geoff Leech, MD of Engage, commented: “British credit unions are struggling to win new members, which is unfortunate given the massive gap in the market for affordable, ethical loans and saving products. Incorporating Caroma into the Engage offer can revolutionise the credit union market by bringing a world-class solution with every accreditation for financial stability, trust, security and regulatory requirements, not to mention the speed of delivery to meet members’ needs. Its flexible configuration ensures is open to all credit unions and community banks.”

Previous Article

July 08, 2021

Finastra and Hundsun Lirong partner to co-develop a treasury solution

Read More
Next Article

July 08, 2021

Airwallex partners with Naomi Simson to enable Australian businesses to scale

Read More






IBSi Daily News Analysis

cloud,

July 19, 2024

Engage

SMEs leverage cloud to gain competitive edge, study shows

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

July 19, 2024

Sopra Banking Software partners with Finom

Read More

July 19, 2024

FinTech Focus: Catch latest developments of the week

Read More

July 19, 2024

Paysys Labs & Raqami Islamic Digital Bank to fuel digital payments in Pakistan

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2024