The exchange for the debt economy
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Integrated into the Jack Henry Banno digital banking platform, Swaystack will offer Cascade members a wide range of guidance upon onboarding to best make the use of the credit union’s services.
Cascade Federal Credit Union has partnered with Swaystack, a Florida-headquartered fintech, to enhance the onboarding experience for new and existing customers.
Integrating Swaystack directly into its digital banking platform, powered by Jack Henry Banno, the Washington-based credit union will be able to better retain members by guiding them on how to set up and use its services.
Specifically, the vendor notes that it will help Cascade’s members with “guided account funding, direct deposit and subscription transfer, e-statement enrolment, cross-sell journeys, and a digital referral path that extends the credit union’s existing rewards programme”.
In doing so, Swaystack explains that it will be creating the foundation for a “full financial relationship” between the credit union and its members. Elaborating on this, Har Rai Khalsa, co-founder and CEO of Swaystack, adds: “A member who hasn’t funded their account or switched their paycheck has no reason yet to trust the institution with more.
“The right next step at the right moment is how an account becomes a primary relationship, and that’s what most credit unions skip. Cascade understood that sequence, and getting the order right is how a credit union this size outperforms institutions ten times larger that are still treating onboarding as something that ends at enrolment.”
Since its establishment in 1952, Cascade has grown to serve more than 10,900 members across more than 100 Washington state-based employer groups and associations, holding over $370 million in assets.
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The exchange for the debt economy
