Caro Federal Credit Union (Caro FCU) has selected Tyfone’s nFinia Digital Banking Platform to upgrade its digital banking capabilities.
Based in Columbia, South Carolina, Caro FCU oversees $129m in assets and serves a membership of 7,400. The credit union aimed to implement a digital solution that would offer new features beyond a typical banking setup, focusing on expanding member interactions and addressing the needs of small business clients.
Caro FCU CEO Anne Shivers said: “With members across the US as well as countries across the world, we needed a solution that could enable us to be at the forefront of technology and would expand our members’ financial capabilities from wherever they are located.
“We wanted a digital banking platform that would not limit us or our members in their financial journey.
“Tyfone’s nFinia platform empowers our members and small business consumers to access banking services from any touchpoint, helping them manage their money and plan for the future.”
Tyfone’s platform, which is driven by open APIs, allows Caro FCU to create a seamless omnichannel experience, ensuring members can access banking services via mobile devices at any time and from any location.
The nFinia platform includes advanced fraud protection features that work to prevent fraudulent activities before they occur, thereby maintaining a smooth user experience while managing security risks.
Caro FCU’s partnership with Brookland Federal Credit Union, a minority credit union with $4.7m in assets and 1,200 members in the Columbia region. The new digital platform was chosen to ensure that it would also cater to the needs of Brookland FCU’s members.
Shivers added: “Part of our mission as a CDFI credit union is to support other organisations that support their communities. Any partner that works with us needs to work with Brookland, and Tyfone was incredibly excited and supportive to extend the most innovative digital capabilities to our partner institution.
“Tyfone is well-equipped to offer the best tools possible to both Caro FCU and Brookland members, and we are thrilled to offer new digital solutions, helping both credit unions flourish and grow.”
Tyfone CEO Siva Narendra said: “We are proud to partner with Caro FCU to enhance their technology offerings for their members as well as Brookland FCU’s members. Our solution will empower their members to improve their financial lives and strengthen the Columbia community.”
