Lafayette Federal Credit Union Selects Bankjoy for Full Digital Banking Suite, Pilots Business Banking Platform to Improve Member Experience
$1 billion credit union adds new solutions and taps latest business banking platform to deliver superior digital tools, drive loyalty among business members
DETROIT, Mich., August 23, 2021 — Digital banking provider Bankjoy has signed Washington, D.C.-based Lafayette Federal Credit union for its full digital banking suite to improve the overall experience for both its members and the credit union itself. The $1 billion credit union will also pilot Bankjoy’s latest business banking platform, providing business members with a best-in-class digital experience.
Engineered by credit union executives, Bankjoy delivers modern banking technology, including mobile, online, e-statements, online account opening, online loan origination, and conversational AI to banks and credit unions of all sizes. The platform features cutting-edge integrations to quickly upgrade the digital baking experience and provide beautiful products with advanced features, simple navigation, and a modern look and feel.
Lafayette Federal Credit Union is the latest financial institution that will implement Bankjoy’s digital banking suite. In addition to its full consumer digital banking solutions, the credit union will also pilot Bankjoy’s business banking platform, further equipping the institution with tools to help drive loyalty among business members. The platform’s Invoicing, Payroll, Company Formation, Wire Transfers and Entitlements features, combined with a superior UX, helps businesses efficiently and effectively manage their finances.
According to Jeff Ference, Senior Vice President, Operations of Lafayette Federal Credit Union, “Since 1935, we have been a trusted provider of convenient, reliable banking solutions, paired with top-notch member service. By partnering with Bankjoy, we are furthering that commitment. Their entire digital banking suite will offer our members a modern, seamless experience while providing them with the tools and technology they want and need.”
To support its initiative, Lafayette Federal Credit Union will migrate to the Corelation’s Keystone platform, developed specifically for credit unions to bring the highest level of performance. Bankjoy’s close integration with Corelation’s Keystone will provide members with an incredible user experience regardless of how they choose to interact with the credit union.
Ference added, “We were extremely impressed with Bankjoy’s tight integration with Corelation. This was key in our selection process and really sealed the deal for us. We look forward to the added value these platforms will deliver to our members.”
“Adoption of digital tools – both by consumers and small businesses – continues to rise,” said Bankjoy CEO Michael Duncan. “In fact, a recent study found that 85 percent of Americans plan to keep using digital tools to conduct their finances online or through mobile devices, beyond the past 18 months. The increased interest in digital banking is not surprising, but financial institutions must not only keep pace with demand, but also ensure their offerings are modern and seamless. Not all digital banking platforms are the same.”
Duncan continued, “Institutions like Layfette Federal Credit Union are leading the charge in meeting consumers’ and entrepreneurs’ growing digital needs. Driven by their commitment to provide superior service, we are excited to support them through their newest endeavor and the value it will provide their members.”
Detroit-based FinTech, Bankjoy, delivers modern banking technology, including mobile banking, online banking, and a banking API to banks and credit unions — big and small. The company prides itself on creating beautiful products with advanced features, simple navigation, modern look and feel, and world class user experiences shaped by talking to users. Bankjoy is a Y Combinator- and CheckAlt-backed company. For more information, visit www.bankjoy.com.