Corillian Corp. (NASDAQ: CORI), the top provider of online banking, payment and security solutions to the financial services industry, today announced the availability of Corillian Member Advantage, a rapidly deployable online banking solution for credit unions. Corillian Member Advantage provides credit unions of all sizes with a competitively priced online banking experience that offers more control and access to the features and best practices utilized by the largest banks in the country.
Credit unions today face a fiercely competitive environment in which they must deal with budgetary constraints while trying to maximize member service and value. With Corillian Member Advantage, credit unions are able to enhance their competitive position against larger institutions while controlling their costs. Deployed as part of a shared ASP environment, a credit union can initially deploy Corillian Member Advantage as a hosted solution and eventually migrate to an in-house deployment if its needs change or its online membership grows.
"Corillian Member Advantage incorporates the collective best practices and key usability features from some of the largest financial institutions nationwide into a quickly deployable, high-performing and cost-effective solution," said Alex Hart, president and CEO of Corillian Corporation. "The online channel is becoming the most strategic delivery channel for credit unions and they are looking for ways to make it a unique and competitive advantage. Over the past two years, Corillian clients' online adoption growth has outpaced other industry solutions by almost 20 percent. Corillian Member Advantage underscores our commitment to better position credit unions for growth and success in the online channel."
Corillian Member Advantage is designed to help credit unions drive greater adoption, utilization, and retention of their online members. With Corillian's flexible ASP solution, credit unions are also able to drive down the total cost of ownership of their online solution. Corillian's team of online experts works diligently to optimize the online solution for a credit union's unique environment, enabling the credit union to rapidly add new capabilities without costly hardware or IT support expenses.
Key features and benefits within Corillian Member Advantage include:
Real-Time Online Enrollment - Allows members to establish accounts online in real-time without waiting for a back-office solution to process a paper enrollment. Once enrolled, users can select their own unique user name and password providing greater personalization to the online experience.
Advanced Account Management - Members have a complete, real-time view of their account information, enabling them to proactively manage their finances with up-to-date balances, transactions, payments, account history, eStatements, check and item images.
Integrated Bill Payment - Members have the convenience of scheduling immediate, future and recurring payments with Member Advantage's pay-anyone capabilities all within an integrated online user interface - removing the need to link to a 3rd party site and providing a consistent look and feel to the complete online banking and bill payment offering.
Proactive Online Security - Corillian focuses its security efforts on preventing fraud before it happens, using a process called Pre-emptive Forensics(TM). Corillian's industry leading security solutions include proactive fraud monitoring, anti-phishing, a SAS70 II datacenter, strong authentication to support FFIEC guidelines, and a team of dedicated professionals and processes solely focused on online security.
Enhanced Member Service - Through Corillian Relationship Manager, member service representatives (MSRs) are able to quickly help members with any online issue. Authorized MSRs can experience the same view as the member eliminating communication gaps and ensuring high quality service.
Best Member Self-Service Experience - Corillian's focus on usability optimizes member "ease-of-use" resulting in greater convenience. Expanded self-service options enable members to personalize key tasks and processes, which leads to increased utilization of the site and services.
Multi-lingual User Experience - Allows the credit union to provide support for multiple languages, allowing members to interact with the credit union in their preferred language.
Hosting & Support - Corillian's world class hosting and support provides scalability, security, reliability and performance. Members can be confident they are able to manage their finances when it is convenient for them - 24 hours a day. In the event of a disaster, Corillian's hot site disaster recovery ensures that online sites are backed up and running quickly after the disaster.
Value-add Services - Through Corillian's strong partner network, credit unions have access to advanced value-add services such as online account opening, A2A payments, loan origination, bill presentment and virtual agent help.