From 14 Days to 1 Click: A Credit Union’s Onboarding Platform Revolutionizing SME Access to Finance Nationwide
A white-label onboarding platform, scalable to full-service banking, empowers a nationwide credit union to serve SMEs across the country. This platform provides tailored financial solutions using microservices hosted on Kubernetes, allowing deployment on both cloud and on-premise servers.
About the Client
As one of the largest credit unions in the United States, our client operates coast-to-coast with over 300 branches and digital services spanning all 50 states. With over $19 billion in assets under management, they support 1.5 million members while serving 150,000+ SMEs. Uniquely positioned to bridge SME financial inclusion, they leverage federal partnerships, such as SBA loan programs and USDA grants, and maintain a robust multi-state compliance infrastructure. Their community-driven innovation has earned awards for financial literacy and disaster relief programs. The urgent need to digitize the onboarding process aimed to solidify these strengths while addressing a flawed offshore build that threatened regulatory compliance.
Project Background
The client recognized the urgent need for a digital onboarding system due to persistent challenges with paper-based workflows and a fragmented digital prototype, which resulted in significant delays and errors. To address these issues, they initially hired developers from Asia, who created a minimum viable product.
As the client prepared to advance, they initiated an NCUA-mandated security audit conducted by a third party to obtain a compliance certificate. This audit uncovered 23 critical vulnerabilities, including unencrypted personally identifiable information and various technical problems. Additionally, the previous vendor’s reliance on a serverless architecture did not align with the client’s vision for a white-label onboarding platform that could be deployed in both cloud and on-premises environments. Compounding these challenges, the client lacked formal technical documentation, making it difficult to assess the integrity of the existing solution.
Confronted with these challenges and opportunities, the client determined that they needed to engage a more experienced vendor to ensure compliance and operational resilience. In response, they launched a competitive tender to identify a partner capable of rebuilding the platform with zero-compromise security, ensuring compliance with SOC 2, ISO 27001, and NCUA standards. They sought a solution that would deliver real-time integrations with legacy cores, payment rails, and SBA loan systems, while also ensuring scalability to support over 500,000 small and medium-sized enterprise users nationwide.
After evaluating eight global vendors, the client selected Itexus based on several key factors:
Fintech specialization with over 12 years of experience building FDIC/NCUA-compliant platforms.
Proven compliance rigor with a 100% audit success rate for PCI DSS and anti-money laundering frameworks.
Seamless legacy integration with proprietary middleware designed for core banking APIs.
Cost transparency with fixed-scope Agile sprints and no regulatory “surprise fees.”
Engagement Model
Time & Budget
Project Team
Project Manager – 1 FTE Business Analyst – 2.5 FTE Solution Architect – 1 FTE Lead FE Engineer – 1 FTE Lead BE Engineer – 0.5 FTE Backend Engineer – 3 FTE Frontend Engineer – 6 FTE DevOps – 1 FTE QA Automation – 0.5 FTE Manual QA – 2.5 FTE Designer – 1 FTE
20 members in total
Tech stack / Platforms
Solution Overview
The final product is a digital onboarding platform specifically created to simplify the onboarding process for small and medium-sized enterprises, effectively tackling the issues associated with paper-based workflows and disjointed systems. A client-facing platform and an administrative system are based on a microservices architecture and are containerized using Docker. They are hosted on Kubernetes, which is connected to the client’s local network via a VPN tunnel, allowing deployment on both on-premises and cloud servers. This integrated system creates a seamless financial experience, accelerating account openings while maintaining strict security.
Key Features and Innovations:
The solution includes two web portals: a Client Facing Platform for customers seeking financial tools like loans and accounts, and an Administrative Platform for compliance officers reviewing applications. It integrates with legacy core banking systems, payment rails, and SBA loan systems for seamless transaction processing. The platform generates essential PDF documents: Form 41 and Form 130, which are signed electronically via DocuSign. Additionally, it supports Single Sign-On through the financial institution’s identity provider.
Architecture and Design:
The architecture allows for both cloud and on-premises deployment, featuring proprietary middleware for core banking APIs. A virtual local network was established in Azure, linked to the credit union’s local network via a VPN tunnel. Two database systems enhance sustainability by allowing for seamless switching.
User Experience (UX):
The design focuses on usability, ensuring a smooth onboarding process.
Security and Compliance:
Robust security measures ensure compliance with SOC 2, ISO 27001, and NCUA standards, instilling user confidence in data safety.
Project Challenges
The project presented several significant challenges that our team had to navigate from the outset.
Timeline Constraints: One of the primary challenges was the tight timeline, which required swift action to meet the client’s urgent needs.
Inadequate Architecture: A pre-project technical audit revealed that the architecture chosen by the previous vendor did not meet system requirements, complicating our efforts to implement a viable solution.
Lack of Documentation: The absence of any formal technical documentation made it difficult to assess the existing system’s integrity and understand its functionalities.
Security Issues: We faced the challenge of correcting existing security problems and adjusting the code structure to comply with the requirements of the security audit, ensuring that the final solution would meet regulatory standards.
These challenges underscored the need for a comprehensive and experienced approach to successfully deliver the project.
Third-party integrations
The platform incorporates several key third-party integrations to enhance compliance and operational efficiency, ensuring a robust user experience. Here’s a concise overview based on the meeting insights:
Integration with Existing Systems: The platform seamlessly integrates with the financial institution’s existing systems, ensuring compatibility and smooth data exchange, which is vital for operational continuity.
Real-Time Transaction Processing: It supports real-time transaction processing through various payment systems, facilitating quick and efficient financial operations.
Document Management with DocuSign: The solution utilizes API connections with DocuSign for electronic signatures, allowing users to complete necessary paperwork digitally. Essential legal documents, such as Form 41 and Form 130, are generated and signed electronically, ensuring regulatory compliance.
Identity Management Systems: Integration with identity management systems enables users to log in using their existing accounts, enhancing security and user experience.
Plaid Integration: The platform connects with Plaid, allowing users to securely link their bank accounts for financial verification. This integration enhances the accuracy of user-submitted data and simplifies the onboarding process.
SBA Loan Systems: Integration with SBA loan systems streamlines the lending process, ensuring users can efficiently access necessary financial tools.
Additional Integrations: The platform also integrates with GBG for identity verification, providing insights into potential risks. For example, if a user appears in adverse media checks, specific sources are flagged for further investigation.
Address Verification with USPS: To validate user addresses, the platform integrates with USPS, ensuring that only legitimate addresses are used in the onboarding process.
Overall, these integrations significantly enhance the platform’s functionality and compliance with regulatory standards, delivering a comprehensive solution for financial institutions and their clients.
Results & future plans
The successful implementation of our digital onboarding platform has marked a historic transformation for the credit union , completely revolutionizing their business account opening process:
Key Achievements
Digital Transformation Milestone
Complete transition from AFCU’s legacy paperbased system to a fully digital onboarding platform
Elimination of manual documentation processing
Transformation of traditional inbranch procedures into streamlined digital workflows
Modernization of AFCU’s core business account services
Production Launch Success
Seamless transition from paperbased to digital onboarding
Zerodowntime deployment
Successful integration with AFCU’s existing banking infrastructure
Rapid user adoption across all stakeholder groups
Operational Excellence
90% reduction in AFCU’s KYC processing time
From days to minutes/seconds for standard verifications
Automated compliance checks
Realtime verification status updates
Streamlined multiuser onboarding
Enhanced accuracy in documentation processing
Reduced manual intervention requirements
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