Recognizing technology leadership in Canada’s small and medium-sized financial institutions
VANCOUVER, B.C., September 10, 2019 – Central 1 Credit Union (Central 1) announced the winners of its first annual AmpliFI Awards at its Momentum 2019 conference. The Awards recognize and celebrate the exceptional work and results by financial institutions across Canada in an increasingly competitive market.
The 2019 AmpliFI Awards honour financial institutions that have focused on delivering an innovative technology-focused solution, customer acquisition strategies, or financial institutions that have given back to their community beyond a monetary contribution.
“Our new annual AmpliFI awards celebrates innovation with financial institutions across Canada and builds on our client first focus,” said Mark Blucher, President and CEO of Central 1. “It is exciting to see all of the excellent work that is changing Canadian financial experiences for the better with community inclusive and digital programs and services.”
Congratulations to Award Winners in Five Categories:
Kawartha Credit Union won the Innovation Award that recognizes an organization that has developed an innovative technology-focused solution that improved their products, services, customer experience, branch design or beyond.
JUDI.AI won the Ignite Business Banking Award that celebrates an organization that helped Canadian businesses ‘ignite’ their full potential via new products, services or other solutions.
Sunrise Credit Union won the Supercharge Award for Best Campaign for an organization that has gone above and beyond to reinvent their customer acquisition strategy using Central 1 products and services.
SASCU won the Digital Transformation Award that is awarded to an organization that has harnessed the power of digital technology to drive their business objectives forward.
Alterna won the Community Impact Award that recognizes an organization that has leveraged their business to give back to their community – beyond a monetary donation.
See Backgrounder below for more information about AmpliFI winners’ products and services that are transforming Canada’s financial industry.
About Central 1
Central 1 is a preferred partner for financial, digital banking and payment products and services – fuelling the success of businesses across Canada. With $17.9 billion in assets, we leverage our scale, strength and expertise to power progress for more than 250 credit unions and other financial institutions, enhancing the financial well-being of more than 5million customers from coast to coast. For more information, visit www.central1.com.
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Contacts
Media:
Nicola Lambrechts
Central 1 Credit Union
T 604.970.9113
E nlambrechts@central1.com
AmpliFI Award Winners Backgrounder
Central 1’s first annual AmpliFI Award Ceremony celebrates the great work being done by financial institutions across Canada. AmpliFI Award winners were announced at Central 1’s annual innovation, future of banking and leadership Momentum event.
The AmpliFI awards, with five categories, celebrates new innovative products, programs and new customer acquisition strategies with financial institutions across Canada:
1. Innovation Award
2. Ignite Business Banking Award
3. Supercharge Award for Best Campaign
4. Digital Transformation Award
5. Community Impact Award
Kawartha Credit Union won the Innovation Award, which recognizes an organization that has developed an innovative technology-focused solution that improved their products, services, customer experience, branch design or beyond.
Kawartha Credit Union is the first credit union in Ontario to offer financial services through an innovative mobile branch. Their Mobile Solutions Centre was custom designed for two purposes: one to provide banking services to members while a branch is being renovated or is temporarily unavailable, and secondly to assist some communities who have lost their financial institution. Kawartha’s “branch on wheels” is fully accessible and has an ATM for cash withdrawals and deposits, tablets for member use, and two private offices for in-depth conversations and advice.
JUDI.AI won the Ignite Business Banking Award, which celebrates an organization that helped Canadian businesses ‘ignite’ their full potential via new products, services or other solutions.
JUDI.AI is helping credit unions and banks rapidly deploy a credit decisioning solution. One of their clients realized their traditional approach to providing small dollar cash flow loans for independent, self-employed workers was not ideal and rather cumbersome. After this client implemented this new experience, research showed a high level of member satisfaction with credit application ease of use and a fast credit decision process. Even members who were not approved for a loan still held high levels of satisfaction due to the timeliness of the decision, transparent feedback on why they did not qualify, and advice provided by account managers.
Sunrise Credit Union won the Supercharge Award for Best Campaign, which is given to an organization that has gone above and beyond to reinvent their customer acquisition strategy using Central 1 products and services.
The Sunrise Supports Small Business campaign ran last September to October. The strategy of the campaign was to grow awareness of their businesses services among the communities they serve and to acquire new business members. The campaign involved social media, bus shelter ads, in-branch TV ads, newspaper and radio ads. Some business members recorded a simple ‘selfie’ style promo video that they played at the Chamber of Commerce monthly luncheon. This campaign resulted in a 35% increase in new commercial accounts.
SASCU won the Digital Transformation Award, which is awarded to an organization that has harnessed the power of digital technology to drive their business objectives forward.
SASCU identified the mortgage renewal process as one of their key processes in need of a transformation. Launched this June, the result is a digital transformation that is saving staff significant time and has provided a “wow” member experience. With the new optimized workflow, staff are saving 30 minutes per renewal with a cost savings of $9,000 annually. And they aren’t finished. Now SASCU is working on digitizing their Electronic Funds transfer process and digitized Stop Payment process.
Alterna won the Community Impact Award, which recognizes an organization that has leveraged their business to give back to their community – beyond just a monetary donation.
Alterna’s Community Micro Finance Program is helping women in communities. They partner with groups that share their values of supporting female entrepreneurs and helping them better their financial future. And with this program, women are realizing their entrepreneurial potential through this microfinancing movement. Recently Toronto’s Parkdale Centre for Innovation was a recipient of Alterna Savings’ Financial Inclusion grant of $20,000 to support the Women in Leadership program that provides organizational leadership and business training skills for women entrepreneurs.
