Top 10 credit union will adopt a new small business banking platform to create a streamlined digital process for business members including digital account opening, virtual cards, payments and reporting
OGDEN, Utah & MIAMI–(BUSINESS WIRE)–America First Credit Union has selected Loquat Inc. to help enhance the onboarding experience for small business members. The partnership will equip small business owners with time-saving mobile solutions to make it easier, faster and more secure to run their business and have full control over their finances.
“We’ve seen significant small business account growth across our membership — and these members want to get up-and-running quickly,” said Karey Thomas SVP of branch delivery at America First Credit Union. “The partnership with Loquat will provide our business members a modern experience tailored to meet the demands of the commercial marketplace.”
In addition to new business account opening, Loquat provides virtual debit and credit cards and enables payment and lending products to be established within minutes using a proprietary process that reduces the time that is historically required to onboard new business members.
“We are looking forward to helping America First Credit Union enhance its commitment to small businesses,” said Zarina Tsomaeva, founder and CEO of Loquat. “More and more entrepreneurs are striking out on their own, and finding a financial institution that supports their business needs can be complex and time consuming. America First Credit Union will bridge that gap for them.”
Business owners can learn more about America First Credit Union at www.americafirst.com/business.
About America First Credit Union
Now in its 85th year, America First Credit Union has grown from a single branch serving military personnel and federal employees into one of the strongest and most progressive credit unions in the country. The credit union is the largest in Utah, and has 115 locations across Arizona, Idaho, Nevada, New Mexico and Utah. It is also the fifth largest credit union in America with more than 1.4 million members, and the seventh largest in assets with more than $20 billion. America First Credit Union is a member-owned, not-for-profit cooperative financial institution dedicated to building communities and helping members do more with their money. Learn more at americafirst.com.
About Loquat
Loquat, an innovative financial technology company, developed and operates a proprietary small business cloud banking platform designed with the small business customer and the financial institution employees that serve them in mind by a world-class team of former banking executives, fraud specialists, technology and digital transformation experts, and business owners. The end-to-end-platform allows credit unions and community banks to improve or launch a streamlined digital banking functionality aimed at serving small and medium-sized businesses (SMB) including new account onboarding, lending, and cards and payments while preventing fraud without sacrificing the user experience.
To learn more about Loquat, visit: www.loquatinc.io
Contacts
Dave Nellis
America First Credit Union
801.827.8606
[email protected]
Mahesh Jagadish
Loquat Inc.
[email protected]
