Eleven companies pitched their innovative technology solutions during the first Speed Rounds session Thursday morning at the 2022 CUNA Operations & Member Experience Council and CUNA Technology Council Conference in Las Vegas.
In the first of two Thursday sessions, the companies each gave five-minute demonstrations on how their technology can help credit unions, then spent two minutes taking questions from a panel of judges—Michigan State University Federal Credit Union’s Amy Coe, TruWest Credit Union’s Chris Kearney, and CU 2.0’s Chris Otey.
The judges rated each presentation on categories such as operational intelligence, technical intelligence, and revenue opportunities. The audience also voted on the best presentations, with the Best of Show award winner to be announced Thursday evening.
The first session of Speed Rounds included:
This company's investment suite of products, including EasyVest® Automated Investing, EasyCoin Crypto Solution, and Self-Directed Investment, allows credit unions to compete amid the explosion of investment applications.
This platform allows credit unions to take every interaction over the course of the member journey. Feedback includes advanced analytics and personalized service to track the member experience. The platform’s scorecard includes member satisfaction score, net promoter score, and member effort score. Credit unions can also customize variables, such as sorting by specific branches, products, and departments.
This account-opening software allows new members to open share accounts in less than three minutes. By automating up to 97% of application decisions, the software enables credit union employees to focus on more complicated member inquiries.
This real-time platform reimagines legacy solutions like bill pay and adopts new-era technologies like buying and selling cryptocurrency. The goal is for credit unions to improve the member experience by providing real-time money moving experiences that can compete with fintechs.
This platform, which includes MyCreditManager, ID Protect, and Offers Engine, allows credit unions to embed personalized credit and identification tools within their existing digital services. Up to 20 embeddable components allow credit unions to personalize the member experience. Members can track their credit based on the six credit score factors the bureaus use.
It’s tough for credit unions to increase security while simultaneously increasing that member experience,” Nuance Fraud and Biometric Specialist Rachel Muench says. “The goal of gatekeeper is to make life easier for your members and agents and make it more difficult for fraudsters.” Nuance Gatekeeper does this by replacing passwords and security questions with multimodal biometric authentication and intelligent fraud prevention. The biometric authentication identifies a caller’s voice within seconds.
Real-time data streams and machine learning engine turn large amounts of data into a personalized experience. A credit union’s website can personalize itself based on a member’s geographic location. Furthermore, if the data shows that a member is into cryptocurrency, crypto can top the website. The platform also offers support experiences, creating more intuitive experiences and helping members find their next best step.
Performance Vault analyzes data and delivers business line scorecards to decision-makers. The business line scorecards consist of more than 270 proprietary metrics, such as branch and retail, contact center, digital banking, technology, and risk management. Cornerstone has more than 120 credit unions in its data set, allowing credit unions to compare each of these business lines with peer groups.
A pair of CUSOs have collaborated to provide credit unions with an artificial intelligence-powered call center and voice biometrics. Posh Voice360 product integrates with Illuma Labs’ voice biometric authentication for a conversational artificial intelligence voice system. The artificial intelligence can check balances, conduct transactions, move money, and make payments.
CFM NOMADIX, a tablet-based teller application, allows credit union staff to handle transactions from anywhere in a branch. The application is intended to transform the branch experience by removing physical transaction barriers and create more welcoming environments. The tablet-friendly interface untethers employees from workstations, decreases onboarding time, and creates the retail-friendly vibe that consumers have grown accustomed to. QR codes enable the entire branch to use one centralized transaction hub.
DoubleCheck Solutions’ Founder/CEO Joel Schwartz says overdraft and non-sufficient funds (NSF) fees are the hottest topic in the industry. Therefore, DoubleCheck offers a product that protects members, puts them in control of their NSFs, and allows them to recoup a portion of their fees.