Purpose-Built Module for CLOS Will Provide a Superior Customer Experience to Serve the Vital Agri Market
MARKHAM, Ontario, June 4, 2024 — Doxim today announced that Vision Credit Union has signed with them to develop a new module for Doxim Commercial Loan Origination Solution (CLOS) that is purpose-built to address the commercial lending needs of agricultural and agri-food customers.
“Vision Credit Union has a strong focus on the agricultural market and is deeply committed to providing a superior customer experience to its members. By leveraging this new CLOS Agri module to automate our commercial lending, we will accelerate applications while freeing our staff to focus on relationship building.”
— Steve Friend, CEO at Vision Credit Union
Since the Doxim CLOS solution is highly customizable, the loan application process can be easily modified to capture financial data, assess creditworthiness, and flag potential risks related to agricultural loan applications. Workflows will incorporate agricultural-specific accounting benchmarks, projections, and risk factors, including tracking crops, cattle, and incorporating machinery and land data into calculators to mitigate risk.
The solution will also streamline the annual review cycle and operational governance, with the ability to store and clone the customer’s data from the previous year, apply updates, and then send it for review and approval. The process is easy to manage and gives traceability for regulators and auditors since all the data is located in one place.
“Many credit unions serving the agricultural industry still rely on manual, paper-based application processes which are slow, error prone, and inefficient. Our product team will work with the Vision team to enable ecosystem innovations with no-code partners to create a best-in-class experience for Agri-members. The new CLOS module will provide a more efficient, compliant, Agri-specific application process and faster turnaround, translating into a better member experience.”
— Scott Biel, Chief Revenue Officer at Doxim
To learn more about Doxim CLOS and how it can be customized for your specific needs, contact us today.
About Vision Credit Union
Vision Credit Union Ltd. is a community credit union with over 37,000 members across Alberta. Over the past 70 years, Vision has evolved from a single branch in Camrose with assets of $178, to become the province’s third-largest credit union with assets over $2.3 billion and branches in 24 rural Alberta communities. Learn more at visioncu.ca.
About Doxim
Doxim is the customer communications management and engagement technology leader serving highly regulated markets, including financial services, utilities, and healthcare. Its software and technology-enabled managed services address key digitization, operational efficiency, and customer experience challenges through a suite of plug-and-play, integrated, SaaS software and technology solutions. Learn more at doxim.com.
