Digital-focused strategies of Forum Credit Union aim to maintain loyalty among its 5,000 business clients.
In a significant move towards modernizing its operations, FORUM has announced plans to enhance its digital services, focusing on faster account opening and improved customer experience.
The credit union is set to open 75% to 80% of accounts online within approximately five minutes, integrating know-your-customer, fraud, and other checks to ensure a seamless and secure process for its customers. This move is part of FORUM's priority to digitalize account opening for consumers, small businesses, and commercial entities, aiming to complete the project by the end of the year.
FORUM has already integrated FedNow payments and is working towards "send" capabilities, aiming to move certain transactions off slower rails once usage data points to the right candidates. This shift towards digital services is a pragmatic pivot from building everything in-house, as stated by FORUM's chief operating officer, Andrew Mattingly.
The Apiture rollout is considered a milestone in FORUM's broader digital transformation. The Apiture platform includes cash-management tools, payment and transfer options, and fraud-prevention features, aiming to provide a comprehensive digital banking solution for its customers.
The collaboration with Apiture was implemented in 2022, with the organization Accenture partnering with Apiture for this project. The 5,000 business relationships at FORUM are segmented into three bands: sophisticated companies, small LLCs and sole proprietorships, and a fast-growing cohort of 1099 earners and microbusinesses.
The new platform also provides external-account aggregation in business digital banking, a feature that FORUM lacked previously. This functionality will enable businesses to have a holistic view of their financial situation, fostering better decision-making.
The optimism among SMBs aligns with FORUM's growth plans and the industry thesis that better digital onboarding and targeted guidance can lift retention and deepen relationships. The Small Business Growth Monitor shows SMB confidence at a multi-year high, with 82% of SMBs expecting to be operating two years from now, despite tight costs and labor.
Personalization for these groups starts with visibility, then turns into guidance. Apiture's Data Intelligence layer will provide on-screen tips, tutorials, and support audience-specific campaigns for education and cross-sell as adoption grows. A new data warehouse is being developed to feed business intelligence into the commercial team and inform a 2026 refresh of business products based on observed behavior and in-app feedback.
The study flags two pressure points for winning and retaining business relationships: 68% of SMBs that left a credit union want online onboarding for new products, and Gen Z's demand for digital onboarding runs 78% higher than the average consumer. Apiture's Data Intelligence suite has been implemented by FORUM to understand usage and personalize outreach, addressing these gaps in the market.
The competition for FORUM is at the regional and community bank level rather than with national institutions. Larger banks often treat small-business accounts like consumer relationships with a business overlay, while FORUM focuses on packaging tools and services around the business itself and keeping the interface intuitive for self-service.
The 2025 Credit Union Innovation Readiness Index found that top performers in the industry are already delivering a larger share of high-value products than laggards. FORUM's partnership with Apiture aims to position the credit union among these top performers, setting the stage for continued growth and success in the digital age.
