PROVIDENCE, R.I. -- Andera, Inc. this morning unveiled its next-generation oFlows Platform it claims is the first system that eliminates all paper documents from the account opening processes at credit unions and banks.
The oFlows Platform allows applicants to use the built-in cameras on iPads, iPhones, or Android devices to copy and deliver all supporting documentation electronically. Applicants can also legally sign deposit and loan documents on their mobile and tablet screens, using fingers or styluses instead of pens and paper.
“The best way to get rid of paper is not to create it in the first place,” commented Andera founder and CEO Charles Kroll. “But the oFlows Platform goes well beyond that. It brings consumer loans and deposits into a single, universal platform and breaks down the barriers between financial institutions’ delivery channels.”
oFlows integrates with all leading systems used by credit unions and banks.