Fintech startup, Soar, has secured a deal with Glasgow Credit Union to provide its members with the latest banking technology.
The UK’s largest credit union, which has more than 50,000 members, will launch a new mobile app and internet banking platform. It hopes the new digital services will “transform” the way members interact with the organisation.
The announcement is the biggest deal secured by Soar since it launched last year.
Soar’s provides credit unions with “must-have” mobile banking apps and online services. This is an affordable method through which credit unions can capitalise on the growing demand for digital banking services, the firm said.
Andrew Duncan, Executive Chairman at Soar, commented: “It’s excellent to be working in partnership with Glasgow Credit Union to successfully deliver our solution for their growing member base.
“This new partnership is a huge step forward to help credit union embrace the most up-to-date technology that can have a positive impact on their business.”
Soar’s tech product offers members a central platform to manage their finances and allows detailed money management insights. This enables unions to offer relevant products to members.
Glasgow Credit Union is expected to launch its new technology in 2019.
Paul Macfarlane, CTO at Glasgow Credit Union said: “It’s important for us to continually invest in new technology to remain relevant and be able to compete with the rest of the financial services market in 2019.
“Working in conjunction with Soar and with the continued support of our existing partners, we’re improving on our great service offering to create a first-class experience for our members.”
Macfarlane added: “We chose to partner with Soar because of their innovative approach and were impressed with the way they embraced our members’ requirements, which will continue to influence and shape the roadmap for the product.”