thirdstream partners with Technicost LOS

technicost logo

We’re pleased to announce that we’ve joined forces with Technicost, a Canadian pioneer of credit software and loan origination solutions to streamline the online lending space. This ground-breaking solution represents a major evolution in online lending for consumers as well as FIs looking to grow and stay competitive through the power of innovation.

By combining the power of our companies’ industry-leading innovations, we will make it possible for consumers to apply for a loan online from any device and have their application approved and funded into their new or existing accounts within minutes.

Not only does this meet the increasingly high expectations of Canadian consumers, it is also a win for credit unions and other FIs. In the few minutes that the consumer waits for his loan to be processed, the solution is completing significant back-office tasks, including authentication, adjudication, origination and funding of the account. All of this happens in real-time and direct to core banking. It is the first solution of its kind for Canadian FIs.

Christian Clapton, CEO of thirdstream says, “Our companies are extremely proud of this partnership. It is the first time in the Canadian CU market space that this real-time funding option is available to FIs and their customers. By bringing established and essential technologies together we provide a very efficient win for our mutual clients.

Technicost CEO Dominic Paquette agrees: “We are very pleased to provide this additional functionality to our existing LOS clients. This alliance will provide the credit union with total control and versatility without adding to their IT burden. We will continue to provide the best functionality while maximizing the credit union’s return on investment.” 

This consumer-facing solution is currently in Proof of Concept stage with a leading Canadian credit union and will be made available to other CUs in early fall 2017. 

Clapton says, “Consumer lending is just the tip of the iceberg for the comprehensive solution we are building with Technicost. The near future holds commercial loans, retail and commercial mortgages, lines of credit, loan insurance and credit cards to name a few. The companies we choose to partner with are agile, forward thinking and willing. This means bottomline results for our FI clients.

About Technicost
Since 1982, Technicost has been providing Canadian Credit Unions with successful LOS solutions.  They are well established in the industry, with a young, creative team of computer and financial specialists that keep their brand and vision progressive; always a cut above the rest. Technicost’s expert executives deliver dynamic, unmatched credit software solutions to more than 45 Credit Unions and more than 300 Caisses and Business Center all over Canada. To learn more, visit technicost.com.

1st Choice Savings to leverage our in-branch platform

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We’re pleased to announce that 1st Choice Savings and Credit Union has chosen our onboarding platform cumulus as its in-branch account opening solution.

Darrel Koskewich, VP of Business Development at 1st Choice Savings says that the credit union’s “strategic focus is new members and increasing our members share of wallet. We’ve chosen thirdstream’s in-branch account opening solution because their process provides efficiency, allowing our staff to have better conversations with our members.” 

We’re happy to welcome you to the thirdstream family, 1st Choice Savings. Our team is looking forward to working with you.

Sunova to leverage our onboarding platform

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We’re pleased to announce that Sunova Credit Union has chosen cumulus as its onboarding solution for opening business and personal accounts, both in-branch and online.

Dallas Kostna, Vice President and CIO at Sunova says that they chose our solution “due to the flexibility it will provide as well as thirdstream’s unique expertise in providing online and in-branch membership management for individuals as well as businesses.”

Welcome to the thirdstream family, Sunova. Our team is very excited to be working with you.

Vanguard Credit Union chooses our onboarding platform

Screen Shot 2016-12-18 at 9.17.46 PMWe’re pleased to announce that Vanguard Credit Union, headquartered in Hamiota, MB, has chosen cumulus as its onboarding solution for opening business accounts (in-branch) and personal accounts (in-branch and online).

Susan Mervyn, Vice President of Member Services at Vanguard says that the credit union chose our solution for its onboarding needs because we want members to experience a WOW feeling when establishing their business with Vanguard. thirdstream’s cumulus will not only enhance the account opening process for new members, but for our staff as well, whether they come into a branch to meet us, or do it at the comfort of their home.

We’re happy to welcome you to the thirdstream family, Vanguard. Our team looks forward to working with you.

Canada’s leading AML expert Matt McGuire joins our team

mattWe are very excited to announce that we have partnered with internationally recognized forensic accountant Matthew McGuire to lead our regulatory and compliance initiatives. Matt’s leadership ensures that we will continue to protect our clients’ interests in all matters related to FINTRAC, Anti-Money Laundering (AML) and Know-Your-Client (KYC) when it comes to onboarding customers at account opening.

While we have had a long-standing relationship with Matt , his engagement with thirdstream became official in September of 2016. Matt will assist us to ensure that our platform is continually adhering to anti-money laundering and counter-terrorist financing regulations.

Matt has been helping financial institutions assess and reduce financial crime and related regulatory risks for almost two decades. He has also served as an advisor to the United Nations as well as Canadian and foreign governments on the development of their laws and financial intelligence functions.

Founder of The AML Shop, Matt is considered Canada’s leading Financial Crime Risk Management expert and is internationally recognized for his expertise in anti-money laundering (AML) and counter-terrorist financing (CTF). In addition, Matt is a Chartered Professional Accountant and Chartered Accountant, member of the Department of Finance Private/Public Advisory Committee on AML/AT, Chair of the AML Committee of CPA Canada and the founder of the Seneca College Institute for Financial Crime Analysis. He is certified in Financial Forensics (CFF) by the American Institute of Certified Professional Accountant and as an Anti-Money Laundering Specialist (CAMS) by the Association of Certified Anti-Money Laundering Specialists.

Matt is excited about his association with thirdstream and sees it as a natural fit with the work he does with his team at The AML Shop. “thirdstream is an innovative and agile firm focused on developing products that reduce burden and improve client experience. Their approach to reducing friction will define compliance management over the next five years.” Matt is also very happy to associate with a company that is so aligned with Canadian credit unions as he has great respect for their “principled and member-driven approach.” He also looks forward to helping our clients in any way he can whether it be program development, evaluation, assistance with regulator interventions or recruitment.

Our CEO Christian Clapton says “When it comes to compliance and security, there is simply no one more qualified than Matt to lead that side of our product development. Not only will our company benefit tremendously from his expertise, insights and connections, his ‘seal of approval’ assures our clients that onboarding via cumulus is 100% compliant. This regulatory assurance will give our clients the confidence to go after new business via our platform and help them to avoid hundreds of thousands of dollars in regulatory fines.
Our CTO Keith Ginter agrees. “Matt brings unparalleled expertise to our team, our platform and, ultimately to our clients. Compliance is one of the biggest barriers to onboarding. Our innovative solutions and Matt’s expertise effectively removes that barrier, especially when it comes to non-face-to-face transactions.”

More about Matt McGuire and the AML Shop
Founded by Matt McGuire, one of the world’s leading experts in Financial Crime, the AML Shop brings together a dynamic team of industry experts to provide financial service companies with regulatory program development, program evaluation, model tuning and validation, regulator intervention assistance, temporary and long term placements and outsourced compliance services. For more information, visit The AML Shop.


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