Candescent Enhances Digital Onboarding with Terafina Platform
Candescent has launched a groundbreaking update to its account opening and onboarding platform, Candescent Terafina, giving banks and credit unions more control over digital onboarding. With configurable templates, institutions can now manage every stage of the account opening process, ensuring faster, personalized, and compliant customer experiences.
According to Deloitte, 23% of consumers open a new financial account annually. However, 38% abandon applications if the process feels lengthy or demanding. To address this, Candescent Terafina minimizes initial input requirements while shifting optional actions, such as debit card selection and online banking setup, to post-account opening. This approach streamlines onboarding, increases completion rates, and enhances customer satisfaction.
Gareth Gaston, Chief Product Officer at Candescent, explained, “Financial institutions want an easier way to open deposit and loan accounts. With configurable onboarding workflows, they now control pre- and post-account requirements, ensuring intelligent and efficient account journeys. This directly improves application success and strengthens customer relationships.”
Smarter Approach to Digital Onboarding
The new Terafina capabilities introduce:
- Flexible pre/post account workflows
- Smarter support for joint applicants
- Automated compliance tools
- Advanced security with name matching
- Role-based configurations for staff
Gene Fichtenholz, VP of Digital Strategy at Meriwest Credit Union, noted, “Candescent’s Terafina empowers us to design tailored account opening experiences. Its seamless integration and member-focused design deliver frictionless journeys that strengthen our digital presence.”
By combining speed, intelligence, and flexibility, Candescent’s digital onboarding solution helps financial institutions elevate account opening success, optimize compliance, and improve customer trust.
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News Source: Businesswire.com
