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Finovate Blog
Tracking fintech, banking & financial services innovations since 1994
Union Credit is launching out of stealth mode with $5 million in Seed funding led by CMFG Ventures.
The startup is launching in an exclusive partnership with CuneXus, leveraging the company’s continuous credit approval that facilitates loans in one click.
The partnership with CuneXus will offer Union Credit access to CuneXus’ 250 credit existing clients in the credit union space.
Embedded lending startup Union Creditemerged from stealth today and is launching with an extra $5 million, thanks to a fresh round of seed funding led by CMFG Ventures.
Facilitating today’s launch is a partnership with CuneXus, a company that helps credit unions and community financial institutions offer potential borrowers perpetual loan approval, making it possible for customers to take out pre-approved loans in one click. CuneXus was acquired by CUNA Mutual Group in 2020 for an undisclosed amount. The entity now produces more than $27 billion in loans each year.
“Ending the guesswork of lending and financing is an important step towards financial health,” said CMFG Ventures President and Managing Director Brian Kaas. “Union Credit can create real transparency via perpetual credit access. It’s a model that has the potential to completely change the way credit unions grow, allowing them to compete with fintechs and large financial institutions in their communities during the purchase experience.”
Union Credit’s aim is to help credit unions enter into new markets with a tool that offers borrowers front-end financing via merchant relationships. The company leverages CuneXus’ continuous credit approval that facilitates loans in one click. The company will use today’s investment to “focus on building out its digital lending marketplace, SDK, and a direct-to-consumer app where consumers can manage perpetual offers of credit from local lenders that want to serve them.”
California-based Union Credit was launched by CuneXus Co-founder Dave Buerger and former SVP Barry Kirby, who now serve as Union Credit CEO and CRO, respectively. Because of this tie-in, the company benefits from an exclusive partnership with CuneXus. What’s more, the newly found company will have access to CuneXus’ 250 credit existing clients, which represent 37 million end users.
“Credit unions thrive on their long-lasting member relationships, but acquiring new relationships has always been a challenge,” said Buerger. “Today that ends. Union Credit advocates for credit unions on a national scale, putting them in front of consumers at their point of need. It combines the local, competitive, and advantageous offers that credit unions are known for and gives them the sophisticated platform they need to amplify existing digital services and reach new audiences.”
Union Credit’s continuous credit approval will compete on the same level as buy now, pay later (BNPL) transactions that allow consumers to make purchases and pay for them over time rather than all at once. The company’s approach using CuneXus’ continuous credit approval technology is similar to BNPL purchases in that it makes pre-approved loans available to customers in one click, making it easy for them to access credit when they need it.
A Finovate alum since 2014, CuneXus specializes in enabling lenders to deliver personalized, mobile customer experiences while helping financial institutions grow loan volume and revenue. The company has reached more than $60 million in loans funded daily, $500 billion in client combined assets, and represented 28 million consumers in the U.S.
Last fall, the company announced the launch of its new credit and identity protection monitoring solution. The technology enables credit union members to both optimize their financial picture as well as monitor their accounts for any fraudulent activity from within the credit union’s dashboard.
We caught up with Barry Kirby, CuneXus SVP to talk about the company’s new offering and the CuneXus’ broader commitment to financial wellness.
Can you tell us a little about the decision to launch this new credit monitoring solution. Why this and why now?
The reality is that the entire banking system is backwards. Meaning this is the only industry where consumers do the heavy lifting, like applying for credit, only to be told 70% of the time that they can’t buy the product. This results in a dissatisfied customer who will most likely look elsewhere.
Moving forward, it is crucial that financial institutions strategize a new method of engaging with their customers and members through personalized offers that match their needs, especially as spending continues to return to normal. To remain a central role in their communities and the main line of financial support for their customers, financial institutions must implement a business model that promotes the importance of financial awareness and delivers customers next level services and products best suited for their lifestyle.
At CuneXus, we are dedicated to helping banks and credit unions achieve this through our first-to-market digital storefront for account holders, addressing the need for a personalized, on-demand banking experience. This storefront is empowering banks and credit unions to provide a new level of support to their customers and members, by eliminating the loan application process and offering the convenience and immediacy that they expect.
Our new real time credit monitoring solution, which is embedded within the CuneXus storefront, allows us to enter the financial wellness market and elevate the customer experience. We have traditionally provided unparalleled transparency into consumers’ borrowing power through a perpetual pre-approval process. This new product, which provides a transparent view into credit health, is a natural addition to the CuneXus storefront.
What are some of the unique aspects of CuneXus’ new tool?
Our credit monitoring solution has the ability to pull credit information from all the three credit bureaus. Our tool gives financial institutions the option to display information from any of the three bureaus (their bureau of choice), or they can opt to provide their account holders with scores from all three bureaus. This gives the consumer the ability to monitor and compare, and gives the financial institution the flexibility to provide consumers with the best loan options and highest approval odds.
Unlike other credit monitoring solutions on the market that encourage more debt, this new solution helps consumers make informed financial decisions for their futures. The CuneXus storefront is not on a mission to solicit more debt, but rather to offer an array of viable options that the consumer can choose from in their moment of need. Now, with the help of simulators, this new tool can offer account holders suggestions and advice based on their real time credit scores, empowering them to better understand their financial standings. This education component is crucial. Our well-rounded tool balances between education and offering account holders access to credit, to ensure they make the best next move for their future.
How does the new tool give users more control over and visibility into their financial health?
Imagine logging onto online banking and a loan offer with a personalized note pops up explaining how to improve your credit; or it offers details on how boosting your score by 50 points may lead to an even better rate. Financial institutions have a timely and unique opportunity here to step in and help their communities by providing alternative credit options or displaying suggestions for future financial decisions based on each individual’s real time, credit rating. This is exactly what our new tool does – displaying tailored advice and personalized suggestions based on internal data paired with real time credit scores. Account holders can view these relevant offers and advice as soon as they log onto their account and decide their next step on their own. This allows lenders to give end-users more control and visibility over their financial health and elevate consumer confidence, transparency, and awareness to new levels.
What is the advantage of providing multi-bureau information and credit scores as this solution does?
Financial institutions have the ability to either display credit scores from all or one credit bureau. However, those who choose to display more than one, give consumers the ability to monitor and compare their credit ratings and enables financial institutions to offer them the best loan options and highest approval odds. The ability to view all of this information right inside the digital storefront provides financial institutions’ account holders with a more consistent and seamless digital experience, eliminates the need to monitor them elsewhere, and empowers them to track their financial wellbeing over a period of time with ongoing transparency – all which ultimately helps them optimize their financial picture.
It’s been reported that the new solution serves as an identity theft alert system, as well. How is this so?
This credit monitoring tool has the ability to automatically identify any adjustments or changes that have been made to an account holder’s credit score, alerts the user, and automatically suggests steps to correct issues. This capability can also act as a fraud examiner by monitoring any fraudulent activity and alerting both the financial institution and customer.
The credit monitoring tool was introduced last fall. What has the response been since the launch?
We announced that we were building this tool last fall. However, it just hit the market this spring. We have financial institutions on the waitlist to launch and would be happy to offer a follow up story with any measurable benefits/results after they have gone live.
Will we see more from CuneXus on the financial wellness front going forward?
Absolutely. CuneXus makes banking simple, enabling consumers to more easily interact and transact with their institutions through digital channels. As part of our ongoing commitment to helping banks and credit unions navigate an increasingly complex and changing landscape, we recently made a few additional strategic investments in partnerships that will help these financial institutions also understand where and how financial wellness can and should fit into their digital strategy.
Recently we teamed up with Equifax to offer CuneXus credit union customers a better view of their members’ financial wellness and help ensure they are receiving the most relevant offers in a timely and effective manner. The CuneXus platform will leverage insights and predictive analytics that ‘Only Equifax’ can provide in the pre-screen and segmentation phases of the loan process, empowering credit unions to understand more intimately their account holders’ financial standing and create a new level of consumer transparency and awareness.
Another example of this is our new partnership we just announced with Zest AI, the leader in software for more inclusive underwriting. By leveraging Zest AI’s fair credit scoring model within the CuneXus platform, credit unions and banks will be able to extend firm offers of credit to more members than ever before, especially those who are often overlooked by legacy credit scoring. This enables a more inclusive underwriting process, improves consumer access to affordable lines of credit, and helps consumers on the lower credit spectrum build healthier credit scores, improving their long-term financial wellness.
A strategic partnership between digital lending solution provider CuneXus and lending technology company Origence will give more than 1,100 credit unions the ability to offer their members access to personalized, pre-approved financing offers.
“We are focused on changing the way credit unions interact with their members, and this means tearing down old, and painful banking experiences” CuneXus co-founder and President Dave Buerger said. “We’re empowering people with unrivaled transparency and convenience, and this partnership with Origence makes that easily accessible to many more credit unions and consumers. Together we can provide the modern seamless lending experience that members deserve, one that equips them for financial excellence.”
The partnership allows credit unions to access CuneXus’ digital storefront, which leverages a proactive, “Perpetual Approval” approach that continuously analyzes hundreds of internal and external data points to ensure that qualified borrowers can get personalized loan offers, while simultaneously helping keep the credit union “top of mind” whenever one of its members has expressed an interest in securing financing. The methodology exchanges the typical credit application process for an ongoing automated credit approval that make the financing process less complicated for credit union members.
VP of Strategic Alliances at Origence, Aleks Bogoeski, said that the partnership with CuneXus comes at an opportune moment as consumer behavior and spending begins to rebound in the wake of COVID-19. “Our partnership with CuneXus provides a timely opportunity for credit unions to implement a dynamic digital experience that further simplifies the lending process, as member spending returns to a normal, post-pandemic pace,” Bogoeski said. “We are happy to have partnered with CuneXus to bring this service to our credit unions.”
Founded in 2011 and headquartered in Santa Rosa, California, CuneXus made its Finovate debut at FinovateSpring 2014. In the years since, the company has grown to serve more than 145 of the biggest lenders in the U.S. with its digital storefront, helping these institutions increase wallet share, generate branch revenue, and grow non-interest income. CuneXus clients represent more than $400 billion in combined assets and serve 20 million customers and members.
CuneXus was acquired by CUNA Mutual Group in the fall of last year. Announcing the move, CUNA Mutual president and CEO Robert N. Trunzo highlighted CuneXus’ “growth trajectory” – as well as its expertise and products – as features that would enhance CUNA Mutual Group’s opportunity for growth. “We are continuing our journey into a more diverse, digital-first world,” Trunzo said. “Our company is committed to using technology to enhance consumers’ access to financial solutions that work for them and create a more equitable financial system and society. This is a top priority for all of our core businesses.”
Lending and marketing automation platform CuneXusannounced this week it has agreed to an acquisition by CUNA Mutual Group. Terms of the deal were not disclosed.
CUNA began its relationship with CuneXus in 2017 when its venture capital entity, CMFG Ventures, became an early-stage investor in the Santa Rosa, California-based company.
“We are continuing our journey into a more diverse, digital-first world,” said Robert N. Trunzo, president and CEO of CUNA Mutual Group. “Our company is committed to using technology to enhance consumers’ access to financial solutions that work for them and create a more equitable financial system and society. This is a top priority for all of our core businesses.”
CuneXus works with more than 140 financial institutions to help lenders maximize customer relationships by offering turn-key access to its application-free consumer lending tool, cplXpress. The company helps banks offer pre-approved, “click-to-accept” consumer loans to customers that are personalized to appear where and when they need them.
“CuneXus is on a strong growth trajectory, and adding their expertise and product solution to our company portfolio allows us to maximize its growth potential and enhance our long-standing efforts to make a brighter financial future accessible to everyone,” Trunzo added.
Founded in 2008, CuneXus has raised $6.7 million.
“We are genuinely excited to join the CUNA Mutual Group family,” said CuneXus CEO Dave Buerger. “Our capabilities and culture align very well, and we believe we can greatly enhance CUNA Mutual Group’s digital evolution in the lending space.”
The new strategic partnership between CuneXus and TransUnion, announced this week, will empower financial institutions to offer highly relevant financing offers to their customers. The collaboration matches CuneXus’ Perpetual Loan Approval platform with TransUnion’s vast data assets to deliver relevant brand experiences to consumers quickly, securely, and via the digital channels they increasingly prefer.
“We are thrilled to have found a partner with a long history of customer advocacy to enhance our application-free lending solution,” CuneXus president and CEO Dave Buerger said. “If the CuneXus platform is the engine, TransUnion’s wealth of data and knowledge is the rocket fuel.”
“The CuneXus solution allows lenders to harness the power of today’s most sophisticated data assets, like trended credit data, and operationalizes that data for maximum consumer impact,” senior director of credit unions for TransUnion Sean Flynn explained. “In addition, our combined solutions will enable lenders to deploy prescreen strategies that have been optimized based on our companies’ combined expertise and many years of evaluating best practices in consumer lending.”
CuneXus demonstrated its cplXpress lending and marketing automation platform at FinovateSpring in 2018. Named Best Consumer Lending Company in the 2020 FinTech Breakthrough Awards in March, CuneXus also announced a partnership with independent GAP program provider Frost Financial Services. That agreement will integrate Frost Financial’s auto loan protection products into CuneXus perpetual loan automation platform.
Founded in 2008 and headquartered in Santa Rosa, California, CuneXus began this year with an announcement that the company had topped 2019 projections with a 40% year-over-year gain in consumer reach and now has more than 120 financial institution partners. The company has raised $6.7 million in funding from investors including CMFG Ventures.
A Finovate alum since 2016, TransUnion is a global data and insights company that serves as one of the three major credit reporting agencies. Founded in 1968 and based in Chicago, Illinois, TransUnion collects and aggregates financial data on more than one billion consumers in 30+ countries around the world. The company is publicly traded on the NYSE under the ticker symbol TRU, and has a market capitalization of $13 billion.
It is hard to imagine having a better start to your week than Plaid had seven days ago when the innovative fintech (and Finovate alum) announced that it had agreed to be acquired by Visa for $5.3 billion.
But the €90 million ($100 million) raised by Swedish open banking platform Tink on Monday is nothing to sneeze at. In fact, the funding, which is the company’s largest to date, is a reminder that investment interest in (and funding for) companies dedicated to developing the infrastructure that connects consumers, banks, and the financial technologies is very much in abundance.
“Our aim is to become the preferred pan-European provider of digital banking services and to offer the technology needed for banks, fintechs, and startups to leverage the opportunities of open banking and enable them to successfully develop financial services in the future,” Tink co-founder and CEO Daniel Kjellén said in a statement.
Tink demonstrated its platform most recently at FinovateEurope 2019. For more on this year’s Finovate event in Europe kicking off next month, visit our FinovateEurope 2020 page.
Azimo, one of our earliest FinovateEurope alums, announced a pair of big changes at the top to begin the new week.
The London-based money transfer firm, founded in 2012, promoted its COO Richard Ambrose to CEO back in August, as Azimo founder Michael Kent took what TechCrunch referred to as a lateral move to become executive chairman. Today, Fintech Futures, Finovate’s sister publication, reports that the company has appointed Dora Ziambra to the post of Chief Operating Officer. Azimo also promoted its head of finance Tatiana Okhotina to the post of Chief Financial Officer.
“We’re fortunate to have the depth of talent to fill these top roles internally,” Ambrose said in a statement. “We’re lucky too that Azimo will continue to benefit from the experience and leadership of these two outstanding women.”
Here’s our weekly roundup of the latest news from our Finovate alumni:
Union Bank to leverage technology from FIS for core banking.
Italy-based CREDEM leveragingWorldline’s Payment and Liquidity Hub software CRISTAL to process Target2 payments
POS software Vend partners with Klarna to offer retailers more flexible payment options.
U.K. food retailer The Co-operative to deployACI Worldwide’s fraud management solution, ReD Shield.
A partnership between TransferGo and Currencycloud will enable the money transfer company to enter 14 new markets.
YellowDogforges reseller agreement with Annex Pro.
Bankable cozies up with Plaid to allow its bank customers to connect with their users’ bank accounts.
Ohpenappoints former Tesla marketing leader Corinne Aaron as new head of marketing.
Segmint to acquire WAND’s Product and Service Taxonomy division.
CuneXuscelebrates 2019 success with a 40% year-over-year increase in consumer reach.
Three Key Lessons We Learned from Plaid – Unless you’ve been living under a rock, you’ve probably heard that Visa is acquiring Plaid for a deal that’s worth $5.3 billion. The fact that they were so widely used at such an early stage is a testament to the quality of their code, but there are also a few key lessons to take away from their success.
ITSCREDIT’s Joao Pinto on the Digital Lending Opportunity – ITSCREDIT is a spinoff from ITSECTOR and is a fairly new player in the digital lending space. In this interview, Pinto talks to us about the digital lending opportunity, how his company fits into the current state of this fintech subsector, and what we can expect to see next.
Kasasa Enhances its Take-Back Loan – Community bank marketing expert Kasasaannounced a partnership with Carleton today in which Kasasa will integrate Carleton’s insurance and debt protection calculations into its Kasasa Loan.
Plinqit Brings Rewards-Powered Financial Literacy to First Community Bank – One day in the distant future, children will be educated in basic financial literacy as readily as they are taught algebra. Until then, solutions like Plinqit from HT Mobile Apps will be valuable tools for credit unions and community banks looking for novel ways to engage and educate their members and customers.
Credit, Data, and Cryptocurrencies: Graychain Rebrands as Credmark – The company that is bringing credit data clarity to the cryptocurrency industry is entering 2020 with a new name.
Tradeshift Lands $240 Million as it Inches Toward Profitability – The San Francisco-based company will use the investment to boost expansion efforts and gear toward a “direct path to profitability in the near future.”
Fintech, Financial Services, and the Case for 5G – Calling 5G “something banks aren’t even thinking about,” Celent SVP Dan Latimore said, “we believe the effects of 5G are going to be subtle and profound over time.”
Backbase-as-a-Service Helps Banks Leverage the Cloud to Innovate and Scale – The solution makes the company’s broad portfolio of digital banking offerings available to FIs looking to accelerate their ability to develop and offer new technologies to customers.
Also on Finovate.com
Visa to Acquire Plaid in $5.3 Billion Deal – “Today marks an important milestone for our company and for fintech,” company co-founder and CEO Zach Perret wrote on the Plaid blog earlier today. “What started with two founders building in a cramped conference room has become an incredible network that enables millions of consumers to interact with over 2,500 digital finance products.”
Not Another 2020 Trends Prediction Post (Seriously, It’s Not!) – We’re taking a look at the trends you can expect to see on stage next month at FinovateEurope. To keep things simple this year, we assessed the themes at a very high level and broke them down into three categories: the big, the little, and the trends in-between.
Singapore’s Digital Banking License Space Race Accelerates – Is there anyone out there who is NOT trying to secure a digital banking license in Singapore? The Monetary Authority of Singapore announced last week that has received 21 applications for digital bank licenses.
MogoSpend Offers Credit, Cashback, and Help Reducing Your Carbon Footprint – The new digital spending account from Canadian fintech Mogo does more than help Canadians get control of their finances. The solution also offers cardholders generous cashback rewards and a way to make a positive impact on the environment by reducing their carbon footprint.
Getsafe Expands its Insurtech to the U.K. – If your insurance company is offering you drone insurance, you know it’s not your grandmother’s insurance agency. Germany-based insurtech Getsafe does just that– and the company announced today it is expanding its home contents insurance offering (though, sadly, not its drone insurance offering) to users in the U.K.
Raisin’s New Acquisition Gives Company Access to the U.S. Market – European deposit marketplace Raisin announced today it acquired New York-based Choice Financial Solutions.
French Fintech Lydia Locks in $45 Million – TechCrunch reported this morning that French mobile payment app Lydia has raised $45 million (€40 million) in a round led by Tencent.
Visa’s Tap to Phone Brings Contactless Payments to mPOS – With Visa’sTap to Phone app arriving pre-installed on the new, enterprise grade smartphone from Samsung, a broad range of merchants will have access to yet another way to accept payments from customers.
INTL FCStone Acquires International Bank Transfer Firm – Headquartered in Germany, GIROXX offers international bank transfers and currency hedging. INTL FCStone plans to leverage this technology to expand its current client base to small-and-medium-sized enterprises (SMEs).
TemenosSigns Core Banking Deal with Maltese Challenger Laskaris Finance.
HiddenLevers Now Has $500 Billion in Assets on its Platform.
Upgrade PackOpens Singapore Office, Appoints New COO.
Around the web
CredoLabpartners with TransUnion’s iovation to fight credit fraud.
CUneXus adds Delta Community Credit Union to list of clients for its 1-click digital lending 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.
Token.ioTeams Up with Omnio Group to Boost Open Banking.
Financeit to Power Mobile POS Financing for ServiceTitan.
ExpensifyIntegrates with Southeast Asia Ridesharing Company Grab.
Around the web
The Five Minute Founder podcast interviews Jake Tyler, Finn AI CEO.
STRANDS and adorsys expand their partnership for digital transformation for global financial services.
Signifyd to power fraud protection for Solupay’s NetSuite SuitePayments.
KonyshipsKony Quantum for Microsoft Azure and Kony DBX digital banking suite on Kony Quantum for Azure.
Connect Financial Software Solutions partners with CuneXus to offer the CuneXus perpetual loan automation platform to its credit union clients.
Georg von Brevern joinsIxaris as Chief Legal and Compliance Officer.
Telenor to acquire majority stake in the Finnish telecom operator DNA.
CrypteriumlaunchesCrypterium SX, an AI-based system that ensures all transactions get the best exchange rates available.
Omnio Group and Token.iopartner to deliver open banking and PSD2 compliance to Omnio’s financial institution customers.
Raiffeisen Bank International partners with Feedzai to bring advanced ML to European banking to fight fraud.
Jack Henry’s ProfitStarsunveilsGladiator Total Protect, a suite of managed IT, network security, and compliance services to enhance banks’ cybersecurity and compliance management.
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.
RightCapitalselected to join LPL Financial’s Vendor Affinity Program.
American Banker: Envestnetto add lending option to its wealth services.
Tauliataps Google Cloud to launch AI-powered invoicing solution.
LendIt recognizesCuneXus as Top Emerging Tech Company, marking the company’s 3rd major industry recognition of 2019.
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.
Insurtech Innovator CoverHoundFetches $58 Million in New Funding.
Bill.comPartners with American Express to Offer New AP Solution, Vendor Pay.
Around the web
Revolut and WeWork team up to provide three months of “hot desk space” to Revolut for Business customers.
PXP Financial, borne of the merger of PXP and Kalixa, announces its public launch.
U.K.-based cloud accounting firm FreeAgent to offer direct data feeds to banks via the Open Banking framework.
bpm’onlineforges partnership with Meritus Business Solutions.
OptimoveunveilsiGaming Pulse, a benchmark solution to enable gaming operators to test the performance of their platforms against industry performance metrics.
Onfidoappoints former Head of Computer Vision for Robotics at Amazon, Mohan Mahadevan as its new VP of Research.
Switchreports that its CardSavr service boosts credit card usage immediately at activation.
Enveilannounces technology partnership and integration with advanced data security solution and services provider Thales.
CuneXuspartners with outdoor recreational vehicle buying network, Rollick, to streamline the financing process for RV shoppers.
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.
Lending and marketing automation platform CuneXus announced signing its 100th customer today. The partnership news shows the Santa Rosa, California-based company continuing the momentum in 2019 after a year that featured major new partnerships, new product features and platform integrations, and a handful of industry awards.
“Since the launch of CuneXus, we have relentlessly pursued the idea that all consumers deserve an easier, more transparent lending experience,” CuneXus CEO Dave Buerger said. “Our achievements in 2018 advanced that goal significantly. I am incredibly proud of the team’s accomplishments last year and our current high growth trajectory.”
Above: CuneXus co-founders John Reich (CTO) and Dave Buerger (CEO) demonstrating cplXpress at FinovateSpring 2018.
CuneXus’ latest client adds to the 27 new partners the company signed last year. These partners now represent more than $175 billion in combined assets and more than 10 million U.S. consumers. The company also noted that its platform averaged more than $8 million in daily loan requests in 2018, with more than $5 billion in total approved loan requests by year’s end.
New clients for CuneXus include community FIs like Redwood CU, Suncoast CU, Community Choice CU, Commonwealth CU of Kentucky, and Nassau Educators FCU. The firm noted that one partner in particular leveraged CuneXus’ technology to lower average processing time for personal loans by 60% and its auto loan time by 80%. Another partner reported an increase of nearly 36% in overall response rates to its loan officers, with more than 10% of the credit union’s members activating offers via CuneXus’ technology.
“We are excited to build on the momentum of 2018 with a brand-new software release that delivers the ability to integrate with partner products from Kasasa, Rollick, and GrooveCar,” Buerger added. “Our outlook for 2019 is strong and we predict another year of growth, robust engagement, and product innovation.”
Founded in 2011, CuneXus demonstrated its cplXpress lending and marketing automation technology at FinovateSpring 2018. The presentation introduced a redesigned and rebuilt platform with improvements to UI, new features, faster processing speeds, deeper campaign analytics, and turn-key integration into dozens of partner systems.
Last fall, the company partnered with fellow alum and Best of Show winner Kasasa, making the its Kasasa Loans product available via CuneXus’ cplXpress platform. Over the summer, CuneXus’ technology was recognized at the 2018 Marketing Association of Credit Unions (MAC) awards, earning top honors in the Electronic Marketing category.
With $6.7 million in funding, CuneXus includes CMFG Ventures among its investors.
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.
