PenFed Credit Union Partners with Salesforce as Strategic Technology Platform for Best-In-Class Digital Banking
SAN FRANCISCO and TYSONS, VA. April 30, 2019 —Salesforce (NYSE: CRM), the global leader in customer relationship management (CRM) and PenFed Credit Union—the second largest federal credit union in the United States—today announced that PenFed is launching an omnichannel digital banking platform powered by Salesforce Financial Services Cloud and Community Cloud to enable a new, best-in-class member experience.
Along with its current use of Salesforce Service Cloud and the Salesforce Lightning Platform, PenFed is further improving its connected digital banking experience for modern consumers.
PenFed serves 1.7 million members worldwide, offering financial and banking services such as checking and savings accounts, auto and mortgage loans, certificates and more. PenFed chose Financial Services Cloud to serve as the backbone of an entirely new digital banking platform. With Financial Services Cloud, PenFed is creating a more seamless and personalized digital experience that continues to put members first and gives them the ability to interact with the credit union virtually, on their own time.
For example, PenFed members will be able to open new accounts or apply for a new loan with just a few clicks and get a decision in minutes —from any location at any time. The new service provides an even more convenient experience for PenFed’s core of highly mobile military community members.
“We have always had our sights on becoming a completely digital and connected credit union, and Salesforce’s reliable, scalable platform allows us to continue accelerating and innovating our best-in-class financial services experience for members,” said Bozena Kalita, Senior Vice President and Chief Digital Officer at PenFed Credit Union.
PenFed will use Community Cloud to deploy an integrated digital experience that further improves customer service by providing them with more flexibility and personalization. Einstein Bots for Service will enable PenFed to leverage machine learning and natural language processing capabilities to automate routine service requests and speed up resolution time.
“We are leading the way for the credit union industry by ensuring low-touch, easy-to-use connected digital experiences for every member,” said Joseph Thomas, CIO at PenFed. “We’ve seen what Salesforce can do already and it’s making banking more convenient for our members who rely on digital and mobile platforms for 85 percent of their interactions with PenFed.”
“Consumers expect the same personalized touchpoints and convenience in banking as they get from their favorite consumer app experiences,” said Rohit Mahna, SVP of Financial Services at Salesforce. “For financial institutions like PenFed, that means understanding their members, families and financial goals, and offering a seamless, convenient experience on any device. PenFed is well on its way to becoming an even more engaging, personalized and connected bank for its members.”
About PenFed Credit Union
Established in 1935, Pentagon Federal Credit Union (PenFed) is America’s second-largest federal credit union, serving 1.7 million members worldwide with $25 billion in assets. PenFed Credit Union offers market-leading certificates, checking, credit cards, personal loans, mortgages, auto loans, student loans, and a wide range of other financial services with members’ interests always in mind. PenFed Credit Union is federally insured by NCUA and is an Equal Housing Lender. To learn more about PenFed Credit Union, visit PenFed.org, like us on Facebook and follow us @PenFed on Twitter. Interested in working for PenFed? Check us out on LinkedIn. We are proud to be an Equal Employment Opportunity Employer.
Salesforce, the global CRM leader, empowers companies to connect with their customers in a whole new way. For more information about Salesforce (NYSE: CRM), visit: http://www.salesforce.com.