B2B Payments

Credit Unions’ Omnichannel Strategy For Corporates

VSoft Corporation, which provides financial institutions with information and technology solutions, has just been tapped by a major market.

Reports on Monday (Nov. 16) said VSoft was chosen by Corporate America Credit Union, a co-op of credit unions, to provide its services. Specifically, the companies said credit unions that are a part of the group will gain use of VSoft’s IRIS digital banking platform.

Corporate America has more than 500 credit unions in its group, the firms said, and already more than half of the credit unions in the country use VSoft solutions. The IRIS platform provides a platform scalable for the desktop, phone and tablet for banking needs of financial institutions and means Corporate America will be able to provide its corporate and consumer customers with a new range of transactional services.

[bctt tweet="More than half of the credit unions in the country use VSoft solutions."]

Through VSoft, Corporate America’s credit unions can offer financial management, bill pay, money transfer and other financial tools, the companies said.

VSoft Corporation Chairman and CEO Murthy Veeraghanta said that changing market trends mean credit unions need to provide more advanced services for corporate and consumer clients.

“Millennials are quickly becoming the majority of accountholders and shaping customer expectation, making it critical for credit unions to invest in a digital banking platform to remain relevant and competitive,” Veeraghanta stated, adding that use of IRIS means Corporate America “will be able to keep pace with the rapidly evolving technology landscape and become trailblazers in a new digital era of multi-device banking.”

In a statement, Corporate America Credit Union Chief Operating Officer Lisa Coffey said VSoft provides “cutting-edge” technology. She added that having already partnered with VSoft for the last seven years, Corporate America already knows what to expect from the enterprise IT solution provider.

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The How We Shop Report, a PYMNTS collaboration with PayPal, aims to understand how consumers of all ages and incomes are shifting to shopping and paying online in the midst of the COVID-19 pandemic. Our research builds on a series of studies conducted since March, surveying more than 16,000 consumers on how their shopping habits and payments preferences are changing as the crisis continues. This report focuses on our latest survey of 2,163 respondents and examines how their increased appetite for online commerce and digital touchless methods, such as QR codes, contactless cards and digital wallets, is poised to shape the post-pandemic economy.

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