FinovateFall 2022 / Illuma
Presenter Profile:
How they describe themselves: Illuma Labs, Inc. is a fintech innovation company that delivers real-time voice authentication and fraud prevention solutions for credit unions and community banks through our flagship product, Illuma Shield™. Our proprietary solution has been showcased at multiple premier fintech events such as FinovateSpring and FinovateFall. Illuma won Best in Show at VentureTech in 2019, NACUSO’s Next Big Idea award in 2022, and the CreditUnions.com 2022 Innovation Series in the Member Experience category.
How they describe their product/innovation: Illuma Shield™ passive voice authentication is being integrated with Posh Technologies’ conversational AI in the IVR, allowing callers to securely access their accounts 24/7 with a frictionless verification process that recognizes customers by their voice with no passwords, passphrases, pins, or security questions.
Product distribution strategy: Direct to Business (B2B)
Contacts:
Bus. Dev. & Press: Milind Borkar (CEO & Founder), milind@illuma.cx, 972-217-7106
Website: illuma.cx
LinkedIn: linkedin.com/company/illuma-labs
Twitter: @IllumaLabs
HQ: Plano, TX, USA
Founded: March 2016
Product Demoed: Illuma Sheild™
Metrics: $6M equity investment; $2M SBIR funding; 7 Financial Institution clients; 11 full-time employees
Presenters: Milind Borkar, Founder & CEO | Karan Kashyap, Co-Founder & CEO, Posh Technologies | Chad Rogers, Executive Vice President and Chief Operating Officer, Connexus Credit Union
- Key Executives
Milind Borkar (CEO & Founder), Jeremy Whittington (CTO & Co-Founder)
Key Stats
- Key Board Members
Dave Tucker (Partner, Next Level Ventures), Nick Evens (President & CEO, Curql Collective, LLC), Keven Smith (Chief Customer Officer, Rechat), Milind Borkar (CEO & Founder, Illuma Labs, Inc.), Jeremy Whittington (CTO & Co-Founder, Illuma Labs, Inc.)
- Key Investors
Veridian Credit Union, Texas Dow Employees Credit Union (TDECU), Next Level Ventures/Curql Fund, Universal Sharing Network, Inc., Connexus Credit Union
- Key Partners
CUNA Strategic Services and Credit Union Leagues in 34 US States, Genesys, Mitel, Capital Factory
- Key Customers
Connexus Credit Union, TDECU, SCE Federal Credit Union, Dort Financial Credit Union, TruWest Credit Union, Hudson Valley Credit Union, Service Credit Union