Source: thirdstream
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  • Laurentian Bank of Canada (LB) announced a partnership with Canadian-based thirdstream to bring its digital account opening solutions to market
  • Using thirdstream’s platform, Laurentian Bank customers can open accounts anywhere, anytime, and from any device
  • Scheduled to deploy later in 2022, the solution will include fraud prevention and identity verification
  • thirdstream provides digital account opening solutions to over 50 financial institutions and brokers, across Canada
  • Laurentian Bank of Canada provides personal banking, business banking, and real estate and commercial financing to its customers across Canada and the United States
  • Shares in Laurentian Bank (LB) are up 0.93 per cent on the day, trading at C$44.36 per share at 11:15 am ET

Laurentian Bank of Canada (LB) has announced a partnership with Canada-based thirdstream to bring its digital account opening solutions to market.

The partnership will enable the bank’s existing and new customers to open accounts anywhere, anytime, and from any device. Customers will use a simplified, fully digital application process to open accounts, often in under five minutes.

Built on its Application Programming Interface (API) platform, thirdstream’s identity verification capability rapidly integrates over 25 identity verification fraud management and account funding solutions into a single unified identity verification ecosystem and experience. 

Scheduled to deploy later in 2022, the solution will include fraud prevention, identity verification, automated decisioning, real-time account funding, and document management.

Rania Llewellyn, President & Chief Executive Officer of Laurentian Bank commented on the partnership.

“This announcement represents an important milestone as we execute against the Bank’s new three-year strategic plan to change banking for the better, putting our customers first and becoming a more agile organization. I am confident that our partnership with thirdstream will improve our customer experience by offering them a seamless account opening experience.”

Keith Ginter, CEO of thirdstream added,

“Financial services are undergoing profound change, continually overcoming the inefficiency of traditional models. Financial institutions that combine organizational agility, nimble operability, and a strong digital presence will be well positioned to meet the expectations of today’s consumers. Our deposit account opening, and lending origination, and credit card onboarding solutions are engineered with a flexible architecture, data and analytical capabilities, and process engineering that redefines customer convenience. We are excited to bring thirdstream’s configurable Platform as a Service to Laurentian Bank as it transforms personal and business banking experiences for Canadians.”

thirdstream provides digital account opening solutions, online and in-branch, to over 50 banks, credit unions, trust companies and brokers, across Canada.

Laurentian Bank of Canada provides personal banking, business banking, and real estate and commercial financing to its customers across Canada and the United States.

Shares in Laurentian Bank (LB) are up 0.93 per cent on the day, trading at C$44.36 per share at 11:15 am ET.

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