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.