Cotribute Implements Clients as a Member of the Jack Henry™ Vendor Integration Program
Cotribute, an award-winning embeddable fintech platform helping credit unions grow deposits, loans and memberships today announced at the 2023 Jack Henry Connect in Indianapolis that it has successfully implemented clients as a member of the Jack Henry™ Vendor Integration Program (VIP). Participation in the program has provided Cotribute with access to Jack Henry’s technical resources to enable Cotribute’s embeddable digital account opening and loan application solutions to integrate with Jack Henry Symitar. The Vendor Integration Program is designed to help ensure that Jack Henry’s customers can easily deploy third-party products.
Cotribute integrates with Symitar via SymXchange™, a services-based programming interface that enables third-party vendors and credit unions to access the platform’s core data and business rules. The integrity of data is maintained throughout any data exchange, because access to business rules and data is managed through a service layer which governs these interactions.
Cotribute’s digital experiences can be easily embedded within the credit unions extended ecosystem. The platform comes with best-in-class templates and AI-based fraud prevention that help credit unions get compelling fintech like experiences without the heavy lifting. Cotribute’s core integration adapters enable real-time bi-directional connectivity and are configured in less than 30 days. With Cotribute, onboarding conversions are increased by 60%, cost of operations are decreased by 45% and onboarding time collapses from hours to minutes.
Philip Paul, CEO of Cotribute, said, “The pandemic accelerated the adoption of digital tools and technologies by consumers across all age demographics. As a result, credit unions are increasingly looking for innovative digital account opening and loan origination solutions. Credit union and bank executives have indicated that efficiently growing deposits and loans as well as increasing their operational efficiency through intelligent automation are top priorities. Our integration with Symitar allows Jack Henry customers to quickly leverage a large library of best-in-class digital onboarding flows for deposit, loan, insurance, investment and other financial products in order to achieve their growth priorities. Additionally, the integrated fraud detection, intelligent decisioning and automated document collection capabilities allow clients to reduce their operational workload while increasing compliance.”
Jack Henry’s VIP takes the customer out of the middle, providing vendors with direct access to Jack Henry’s technical resources and test systems. VIP inclusion is not an endorsement of the vendor’s product.