CUneXus’ cplXpress to Power One-Click Loans for MeridianLink

CUneXus, a company that offers banks application-free consumer lending products, announced a partnership this week with enterprise business solutions company MeridianLink. As a part of the partnership, CUneXus’ cplXpress will power one-click loan applications for MeridianLink’s loan origination system, LoansPQ. 

Lenders using LoansPQ can now proactively push pre-approved loan offers to their client’s device. Because the offers are automated and based on advanced data analytics, the loan offers are instantly actionable and therefore eliminate the need for a traditional loan application. The partnership offers users a perpetual loan approval with a one-click user experience that offers instant access to the funds where and when they need it, for example, at a car dealership.

In a press release, Dave Buerger, co-founder and CEO of CUneXus said that the new solution gives banks more leverage “to compete in an increasingly on-demand economy.” He added, “This gives consumers total transparency and the 1-click convenience they expect, while eliminating the hassle and delay of an online application form or branch visit.” The release also notes that New England-based DCU, California’s Golden 1 Credit Union, New York’s Cap Com Federal Credit Union, Alabama’s Redstone Federal Credit Union, and Arizona Federal Credit Union have all implemented LoansPQ powered by cplXpress. As a result of the implementation, DCU has reported that the solution boosted its loan volumes 110% in 90 days.

At FinovateSpring 2016, CUneXus debuted AutoXpress, a solution that enables pre-approved customers to shop car inventories at local dealerships from within their bank or credit union’s mobile app– all at pre-negotiated prices. The shopping experience, which is made possible through a partnership with Edmonds.com, enables users to shop for and submit a purchase request for vehicles remotely, without price haggling or going through a loan application process.

Earlier this year, CEO Dave Buerger was featured in an interview with CUBroadcast, where he explained the click-to-accept lending platform. Last fall, the Santa Rosa-based company closed a $5 million Series A round of funding, bringing its total amount raised to $7 million.

Finovate Alums Earn Spots in FinTech Forward 20 “Companies to Watch”

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Half of the companies in the FinTech Forward 20 “Companies to Watch” list presented by American Banker and BAI this week are Finovate/FinDEVr alums. These 10 companies range from payments innovators and security specialists to alt-lending platforms and mobile banking app builders—the list even includes a pair of alums that have earned multiple Best of Show awards.

“The following 20 companies are the standouts among a pool of companies that nominated themselves and ones familiar to our judges,” American Banker declared in an announcement accompanying a slideshow of the FinTech Forward 20. When evaluating the various companies, judges were encouraged to ask themselves questions such as: “Is this organization solving relevant problems for the banking industry?” and “Does it speak to the challenges the industry faces now.”

Below are the ten Finovate/FinDEVr alums that made the cut. The rest of the FinTechForward 20 is listed below.

  • Currency cloud (FF16)
    • Founded in 2012
    • Headquartered in London, United Kingdom
    • Michael Laven is CEO
    • $35 million raised
  • identitii (FF16)
    • Founded in 2014
    • Headquartered in Sydney, Australia
    • Nick Armstrong is co-founder and CEO
  • BehavioSec (FF15)
    • Founded in 2007
    • Headquartered in Stockholm, Sweden
    • Neil Costigan is CEO
    • More than $8 million raised
    • Two-time Finovate Best of Show winner
  • InSpirAVE (FF16)
    • Headquartered in Pittsburgh, Pennsylvania, and New York City, New York
    • Om Kundu, founder, is CEO and chairman
  • Moven (FF16)
    • Founded in 2011
    • Headquartered in New York City, New York
    • Brett King, founder, is CEO
    • More than $24 million raised
    • Two-time Finovate Best of Show winner

Commenting on its spot on the list, Finovate newcomer InSpirAVE founder and CEO Om Kundu said the recognition was a “testament that our patent-pending technology enables financial institutions partnering with us to set themselves apart.” Kundu said his company’s solutions help FIs “tangibly boost deposits and payments revenues” as well as improve customer engagement and share-in-wallet in enduring ways.

Co-founder and CEO of CUneXus credited his firm’s one-click consumer-lending technology for catching the Fintech Forward judges’ attention. He said banks and credit unions were growing the size of their loan portfolios and “competing with emerging technologies” by adopting CUneXus’ solutions.

Speaking for Alkami Technology, which demoed at Finovate 2009 as iThryv, founder Stephen Bohanon, chief strategy and sales officer, pointed to his company’s flagship Alkami ORB platform and called it an example of the sort of “user experience brought about by great design and tightly coupled integration” that increasingly will set FIs apart. “ORB gives banks and credit unions a competitive advantage by placing strong emphasis on delivering the ultimate digital banking experience,” Bohanon said.

Also on the Fintech Forward 20 Companies to Watch list were:

  • Autobooks
  • Kasisto
  • ClickSWITCH
  • Built
  • BookingBug
  • Lenndo
  • Supipay
  • Self Lender
  • Private Wealth Systems
  • Yantra Financial Technologies

Fintech Forward is a collaboration between American Banker and BAI that combines research, media, and event hosting into a single professional, educational enterprise. In addition to its Fintech Forward 20 “Companies to Watch” list, Fintech Forward also publishes a Top 100 Companies and Top 25 Enterprise rankings.

CUneXus to Power Digital FCU’s Mobile Lending Platform

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CUneXus, creator of sales and marketing technologies for lenders, recently partnered with Massachusetts-based Digital Federal Credit Union (DCU), who will integrate the California-based company’s cplXpress into its mobile platform.

The partnership will enable DCU to send its 550,000 members personalized loan offers based on their behavior, location, and credit. The “click-to-accept” functionality of cplXpress delivers preapproved loan offers to reach the client at their point of decision.

CUneXus has also teamed up with mobile-app personalization-platform MobileRQ, which will add geo-targeting and personalized messages that factor in behavior, time, and geography, to DCU’s loan offers. MobileRQ CEO Tyler McKinley speaks to the power of the blended solution, “Combining the CUneXus on-demand lending solution with MobileRQ’s data-driven, mobile personalization platform enables financial institutions to drive multiproduct revenue growth and to simply service customers and members better.”

CUneXusAutoXpress

In addition to integrating cplXpress, DCU will pilot AutoXpress, which CUneXus will debut at FinovateSpring next month. AutoXpress, the result of a partnership between CUneXus and Edmunds, is an in-app car-purchasing experience that lets buyers view local dealers’ inventory, select a pre-approved loan option in a single click, and review payment preferences, all within the lender’s online platform.

CUneXus launched in 2011 and last presented cplXpress at FinovateSpring 2015. The company has raised a total of $1.7 million and recently partnered with Digital Insight.

Finovate Alumni News

On Finovate.com

  • “BioCatch Appoints Eyal Goldwerger as CEO”
  • Check out this week’s FinDEVr APIntelligence.
  • “CUneXus to Power Digital FCU’s Mobile Lending Platform”— Come see a live demo from CUneXus at FinovateSpring next month.
  • “Where Are They Now: FinovateSpring Alums Raise More Than $326 Million in a Year”

On FinDEVr.com

  • “EVO and Verifone Partner to Make EMV Payments Feasible at Restaurants”

Around the web

  • Celent recognizes EdgeVerve Systems as one of two model bank vendors for 2016.
  • Virtual StrongBox granted third patent which allows users to select, view and store private documents on mobile devices.
  • Larky powers the GoLocal rewards app from St. Helens Community Credit Union.
  • Polish startup Atsora wins global Emirates NBD Group FinTech Challenge 2016.
  • National Bank of Canada deploys TickVault big-data platform from TickSmith.
  • ICBC Standard Bank chooses client lifecycle management platform from Fenergo.
  • Infosys Finacle announces its first core banking platform client in Myanmar: Asia Green Development Bank.
  • Fiserv teams up with Cisco to help banks improve customer engagement and internal collaboration via improved communications technology.
  • Jack Henry sells its deposit-automation business to Battery Ventures, a U.S./Israeli venture capital firm.
  • ACI Worldwide hires new SVP for business development, Hannes van Rensburg.
  • Temenos’ T24 core banking system goes live at Bermuda Commercial Bank.
  • Zooz integrates eCommerce, CRM, enterprise resource planning (ERP), and other payment solutions from Nodus Technologies into its platform.

This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.

Finovate Alums LendingRobot, Wallaby Among 2014 Innotribe New York Winners

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Today, New York. Tomorrow, Boston and the world.

LendingRobot and Wallaby Financial were among the five companies to win the 2014 Innotribe Startup Challenge in New York last week. The two companies will join fellow winners, Epiphyte, Juntos Finanzas, and Standard Treasury – as well as winners from competitions held in Singapore and London – for the final competition in Boston this September where an overall winner for 2014 will be crowned.

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LendingRobot demoed its technology at FinovateSpring 2014 in San Jose. The company’s solution not only helps investors manage their P2P loan portfolios, but also uses automation to help them compete against experienced and institutional investors who themselves use technology to spot the best loans available from companies like Lending Club.

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Wallaby Financial helps consumers choose which credit card in their wallet is the optimal one to use with any given transaction. Demoing its Wallet Boost technology as part of the FinovateSpring show in 2013, Wallaby was recently in the news announcing a new service called WalletUp. Available from its new partner, CreditCards.com, WalletUp makes it even easier for consumers to have and use the best mix of credit cards for them.
Also participating in the Innotribe competition in New York were a handful of other Finovate alums including CUneXus, Socure, and Digital Retail Apps. See FinovateSpring 2014 demos of CUneXus here, and Digital Retail Apps here. Socure’s demo from FinovateFall 2013 is available here.

FinovateSpring 2014 Sneak Peek: Part 6

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Welcome to the finale of our FinovateSpring 2014 Sneak Peek series. If you’re just joining us, then you might want to check out the previous five installments of our Sneak Peek (see below). There’s no better way to get to know the entrepreneurs and innovators who will be demoing on the Finovate stage on April 29 and 30 in San Jose.

You can find out more about our upcoming event – including our new location and locale – on our FinovateSpring 2014 page here.

Today we wrap up the series with eight more companies, starting with transaction management specialist Avoka and ending with WePay, an innovator in risk analysis for merchants, crowdfunders, and software makers. In between, we’ll talk security and digital currencies, alternative lending and credit decisioning, credit card vaults and Insurance Buying 3.0.

Enjoy!

Avoka_lo_res_logo
Avoka TransactWEB – an Omni-Channel 2.0 customer transaction experience form the leaders in SmartForm & Transaction Management.
Features:
  • Omni-Channel 2.0 – Seamless crossover between channels in a single transaction
  • Integration with ID verification and signature services for maximum convenience
  • All delivered without programming
Why it’s great:
Avoka TransactWEB delivers an Omni-Channel 2.0 experience for account opening, loan origination, etc. without programming.
Presenters:
Phil Copeland, CEO and Co-Founder
Phil is responsible for the company’s business strategy and worldwide operations.
Jeff Kalicki, Account Manager
Jeff is comfortable presenting technology to all levels of business, as well as leading architecture discussions.

Coinbase_lo_res_logo

Coinbase is a bitcoin wallet and platform where merchants and consumers can transact with the new digital currency bitcoin.
Features:
  • The ability to debit customers for a more convenient checkout experience
  • The ability to set individualized merchant permission controls via API keys
  • The ability to use recurring billing
Why it’s great:
Coinbase offers innovative tools that allow merchants to accept bitcoin payments easily and securely.
Presenters:
Roger Gu, Business Development Manager
Roger leads payment partnerships at Coinbase. He previously worked in Strategy and Development at Visa and in Investment Banking at Marcum Cronus. Roger holds an A.B. in Economics from Princeton.
Nahid Samsami, Business Development Manager
Nahid previously worked as a senior product manager at Playdom, acquired by Disney Interactive. She began her career at Bain and Company and holds a degree in Economics from Stanford University.

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CUneXus’ unique lending platform integrates at all digital and physical touch points, delivering an omnichannel borrowing experience, proven to significantly increase loan volume and reduce acquisition cost.
Features:
  • Customers can easily access loans anytime, anywhere – with no loan application
  • Lenders enjoy increased product penetration, loan volume, and ROI
  • Simple integration with online and mobile banking
Why it’s great:
CUneXus helps lenders drive substantial loan volume, by providing customers a refreshingly simple on-demand borrowing experience across traditional, online, and mobile banking channels.
Presenters:
Dave Buerger, Co-Founder and President
Dave is a finance and marketing visionary who has been recognized by CUNA and CUES for award-winning strategies that have yielded record loan volumes and response rates.
Darin Chong, Co-Founder
Darin is an expert strategist and has been instrumental in the development of the company’s Comprehensive Pre-Screened Lending (CPL) strategy.

OnBudget_lo_res_logo

OnBudget develops PFM tools, Mobile Apps, and Bank Companion Cards that give banked consumers simple budgeting tools and banks a profitable way to monetize them.
Features:
  • Uniquely profitable prepaid product simplifies banked consumers’ budgeting needs
  • Auto learns users’ spending habits, suggests budgets
  • Analyzes spending trends, offers insights/savings opps to help users stay on track
Why it’s great:
OnBudget’s intuitive and interactive solution delights banked consumers by simplifying their budgets. It’s a bank companion card that provides real consumer value at no cost to the consumer.
Presenter:
Jim Collas, President and CEO
Jim is a personal computing pioneer with nearly 30 years of senior exec
utive experience in computers, prepaid cards, and consumer markets. He is a successful entrepreneur and visionary leader.

Spreedly_lo_res_logo
Spreedly is the independent credit card vault that works with any PCI end point API. We provide all the benefits of tokenization without gateway lock-in.
Features:
  • Quickly extend your business to non-gateway end point APS’s (hotel, ticketing, transportation, restaurants)
  • Automatically update lost/expired cards
  • One integration, 60+ gateways, 70+ countries
Why it’s great:
Spreedly gives you all the flexibility of having your own credit card vault without the headache of PCI compliance or building your own integrations.
Presenter:
Justin Benson, CEO
Justin specializes in scaling startups from concept to IPO/acquisition. He’s experienced in driving direct revenue and leveraging partnerships to achieve double-digit SaaS revenue growth.

Sureify_lo_res_logo
Sureify educates consumers on their life insurance options, helps them build a plan that’s right for them, and take the next steps to get covered.
Features:
  • Learn about life insurance from simple text, visuals, & videos
  • Unbiased, third-party source for life insurance education
  • Define needs and build the right plan for you quickly
Why it’s great:
Sureify is the only unbiased, third-party source for life insurance education online.
Presenters:
Dustin Yoder, VP of Business Development
Dustin leads strategy, product and business development. Loves talking with our customers, prospecting all possible channels, and relationship building in every part of our business.
Chris Cichon, Marketing
Chris drives marketing and customer experiences. Loves digital marketing and growth hacking; dabbles in front-end web development.

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True Link protects vulnerable seniors from predatory marketing and fraud.
Features:
  • Seniors are victims of $100bn/year in scams
  • Seniors are the largest, fastest growing market in the U.S.
  • True Link is the killer app for the 43 million people caring for their aging parents.
Why it’s great:
Everyone deserves a safe way to spend their money without having to worry about scams, fraud or spending mishaps.
Presenter:
Kai Stinchcombe, Founder and CEO
Kai is a data scientist and entrepreneur who created the True Link Prepaid Visa Card after discovering that his grandmother was the victim of several credit card frauds.

WePay_lo_res_logo
WePay enables marketplaces, crowdfunding sites, and business software makers to offer payment services to their customers without worry about risk or loss.
Features:
  • WePay’s Veda risk engine leverages big data to make better decisions
  • WePay’s Innovative Risk API collects risk data from platform partners
  • Veda analyzes social footprint to verify users
Why it’s great:
Through its proprietary Veda social risk engine, WePay gives platforms a flexible payment API that provides a great user experience while still taking on all their fraud risk and compliance burdens.
Presenter:
John Canfield, VP Risk Management
John leads all our risk strategy, processes and tactics at WePay. He holds a Masters and Bachelors in Electrical Engineering and Computer Science from MIT and an MBA from Stanford.

Finovate Alumni News — March 4, 2014

  • VerifyValid announces new iPhone app, Mobile Checkbook.
  • Finovate alums Fiserv, MicroStrategy, Digital Mailer, LICUOS, and CUneXus demo at Bank Innovation 2014 DEMOvation event. Catch Fiserv and CUneXus at FinovateSpring 2014 in San Jose.
  • MasterCard expands presence in Africa, entering seven new markets.
This post will be updated throughout the day as news and developments emerge. You can also follow all the alumni news headlines on the Finovate Twitter account.