Recently, Shastic and Priority One collaborated to create a technology solution for the credit union’s digital platform.

With the addition of SMS, Priority One added an innovative security process for the verification of the member’s identity. This allowed the credit union to perform specific tasks over the phone, such as balance inquiries, transferring funds and making loan payments.

Maintaining a Century of Excellence

Priority One is one of the oldest credit unions in California, having been around since 1926. One of the challenges that Shastic faced during this integration was finding a way to maintain consistent customer service excellence that Priority One had been providing their customers for nearly one hundred years. One of the ways they did this was by tapping into the most common communication method for most banking customers — namely, text messaging.

A recent study showed that nearly 98% of texts are read within the first three minutes of getting that text. After evaluating the habits of their current customers, they determined integrating SMS into their existing digital infrastructure made sense.

The collaboration with Shastic was a result of the need to improve the company’s technology stack, provide greater security to their customers, and to make the technology easily available to all their members.

3-factor Verification For the Modern Era

Priority One Credit Union established a three-factor verification process within the text messaging platform to ensure proper member verification. To ensure that member numbers are not stored in the cloud, Priority One searches for the member by the incoming phone number. Once a phone number match occurs, the call center verifies additional pieces of information from the member via SMS.

This verification process protects each member by not over-exposing personal information while also verifying their membership with Priority One Credit Union.  Once verified, Priority One has a secure way to handle member requests. Currently, the credit union can help each member with balance inquiries, transferring money from savings to checking, or making a periodic loan payment via SMS.

With a rise in identity theft, it is essential to include steps like this into the digital scalability of banking. Processes like this provide an extra level of security and protection to your end users. Shastic is committed to providing technology solutions to banks and credit unions all across the United States.

Get started with a demo to see what Shastic can do for your organization.