Home » CU suppliers roll out new products, services at CUNA GAC
CU suppliers roll out new products, services at CUNA GAC
February 29, 2016
MADISON, Wis. (2/29/16)--Many suppliers made product and services announcements during last week’s Credit Union National Association Governmental Affairs Conference.
Among the companies making announcements:
CU Wallet, Woodland Hills, Calif., has partnered with MasterCard to offer the MasterPass digital service. CU Wallet's on-device application and back-end infrastructure will enable consumers to use MasterPass to make purchases in store, online or in-app with any payment card across multiple communications technologies, including near-field communication, quick response and barcodes, and remote checkout. The 120 member credit unions of CU Wallet can now offer MasterCard’s digital wallet service, in their own credit union-branded mobile application.
CUNA Mutual Group, Madison, Wis., is investing in a new direct-to-consumer lending platform. SpringboardAuto.com provides a direct online auto loan platform that allows credit unions to lend to members with below-prime credit ratings without creating additional credit or operational risk for the credit union. SpringboardAuto.com uses an automated credit engine for real-time responses. The tool offers flexible approval terms that help approved members to configure their loan preferences, empowering them to see the effect of their decisions throughout the process. After receiving a referral from their credit union, members complete the application online without conventional obstacles that borrowers with below-prime credit sometimes experience.
PSCU, a St. Petersburg, Fla.-based credit union service organization, released a new version of its Card Lock security application for mobile devices that gives credit union members additional fraud-fighting controls over their credit card accounts. The new Card Lock mobile app lets cardholders set transaction limits, block purchases, request alerts and take full control of their card at the point-of-sale, all from their mobile device. A Card Lock application programming interface gives credit unions the added ability to integrate Card Lock’s transaction alerts and controls technology into their own mobile apps.
Fiserv, a Brookfield, Wis.-based provider of financial services technology solutions, announced that 25 credit unions, with roughly $2.5 billion in assets and 250,000 members collectively, have committed to its CUnify account processing platform. Five of the credit unions are new core processing clients of Fiserv, and will be converting to CUnify this year. CUnify is a scalable account processing platform with streamlined functionality for relational reporting, cross-selling, native lending and end-of-day processing. The platform enables credit unions to grow member relationships, while driving efficiency and profitability through integrated digital and mobile services.
CO-OP Financial Services, based in Rancho Cucamonga, Calif., is partnering with OpenIDEO on a credit union engagement initiative supported by MasterCard. “This CO-OP program powered by MasterCard is dedicated to co-creating the future of human-centered financial services,” said Samantha Paxson, CO-OP chief marketing officer. “The online network will provide the process and tools to engage in human-centered design, and serve as a collaborative catalyst for innovation.” The initiative will facilitate the hosting of local collaboration-focused events and include the design and release of new tools to help credit union employees lead the journey to innovative financial services.