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Editorial Advisory Board

  • Professor Andrea M. Armani, University of Southern California
  • Ruti Ben-Shlomi, Ph.D., LightSolver
  • James Butler, Ph.D., Hamamatsu
  • Natalie Fardian-Melamed, Ph.D., Columbia University
  • Justin Sigley, Ph.D., AmeriCOM
  • Professor Birgit Stiller, Max Planck Institute for the Science of Light, and Leibniz University of Hannover
  • Professor Stephen Sweeney, University of Glasgow
  • Mohan Wang, Ph.D., University of Oxford
  • Professor Xuchen Wang, Harbin Engineering University
  • Professor Stefan Witte, Delft University of Technology

Santa Rosa County FCU Selects Cotribute for Next Generation Digital Account Opening and Onboarding

~Milton, Fla.-based credit union selects digital account opening and loan application module to lower fraud and eliminate backlogs~

Cotribute, an award-winning, next-generation digital account opening and onboarding platform helping financial institutions grow deposits, loans and memberships, today announced Santa Rosa County Federal Credit Union (Santa Rosa County FCU) selected its Consumer Account Opening and Consumer Loan Application modules to automate its new member onboarding and loan application processes.

“Before Cotribute, we were manually reviewing 100% of our applications each month, half of which would be fraudulent,” said Mark Padgett, Executive Vice President at Santa Rosa County FCU. “We knew improving the process was instrumental to our overall success, both for our existing and prospective members and our back-office staff who faced tremendous backlogs. Cotribute’s completely frictionless and intuitive user experience for members to open accounts and apply for loans will be a game-changer for our organization. We anticipate significant developments in both areas and look forward to our partnership.”

Milton, Fla.-based Santa Rosa County FCU needed to address several onboarding challenges, including mitigating fraud and lowering manual application reviews. The credit union leverages Jack Henry’s core processing suite of solutions. The company’s open and flexible technology helps Santa Rosa integrate Cotribute as their digital account opening provider, creating a custom and competitive user experience.

The Consumer Account Opening module provides simple instant funding options, automates Know Your Customer (KYC) requirements including fraud detection, anti-money laundering (AML), identify verification, OFAC checks and Bank Secrecy Act (BSA) requirements, and retains control over user data. Cotribute’s Consumer Loan Application module enables credit unions to easily add modern and streamlined loan application experiences. Cotribute's library of 50+ best-in-class account opening templates enabled Santa Rosa County FCU to seamlessly deploy new modules.

Philip Paul, CEO of Cotribute, said, “Next generation digital account opening and onboarding is a critical need for credit unions as they compete with digital-first banks. Fraud detection is also a top priority for every credit union, especially with the increase in digital, hybrid and in-branch applications. We are thrilled to help Santa Rosa County FCU’s team deploy ‘Apple-like’ experiences to its members that empower prospective and existing users to onboard in less than two minutes.”

About Santa Rosa County FCU

Located in the panhandle of Florida, Santa Rosa County Federal Credit Union was initially founded in 1957 as Santa Rosa County Teachers Federal Credit Union. Our ties remain strong within the educational community as we continue to grow and serve our members in surrounding counties. Santa Rosa County FCU is a member-owned financial cooperative committed to helping our members succeed. Our goal is to provide our members financial solutions coupled with hometown service. Santa Rosa County FCU listens to its members and always places them first.

About Cotribute

Cotribute is an award-winning next-generation digital account opening and onboarding platform that enables credit unions to compete with digital-first banks. Cotribute’s capabilities include embedded digital account opening, loan application, member onboarding, smart cross-selling, fraud guard+, analytics and SEG/community engagement programs. Cotribute’s clients range from Fortune 500 financial institutions operating across the US to small regional credit unions. Cotribute is built on blazing-fast cloud-based micro-services architecture, is SOC2 Type 2 certified, seamlessly integrates with core systems and is on a mission to deliver beautiful digital experiences to every member.

For more information, visit www.cotribute.com and connect with the company on LinkedIn.

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