Sherpa Technologies, CULedger announce partnership
Sherpa Technologies and CULedger announced the integration of Sherpa’s identity and document verification-provided solution, ID-Pal, into CULedger’s MemberPass™, to enable the first KYC-backed digital credential that provides credit unions a solution to verify their members’ identities.
This first-of-its-kind integration of ID-Pal into MemberPass strengthens and supports the issuance of the digital credential by validating the member’s authenticity during initial enrollment of MemberPass. It will be available for credit unions using MemberPass in the first quarter of 2021.
“ID-Pal is a compliant, end-to-end solution that offers a comprehensive and seamless ID and document verification experience,” said Sherpa Technologies’ President and CEO Keith Riddle. “The ID-Pal/MemberPass solution provides credit unions with a single experience for enhancing ID and member validation that can be applied to a variety of use cases. Additionally, Sherpa’s partnership with CULedger gives credit unions an opportunity to issue the MemberPass application and consume the digital credential through the Mosaic platform.”
Through MemberPass, a credit union member will receive a tokenized credential that is created instantly, following the ID-Pal verification process. Back-end integration between Sherpa’s Mosiac platform and CULedger ensures a seamless experience for issuing the digital credential.
Credit union members use their MemberPass credential to authenticate themselves seamlessly at any time and across any channel the credit union offers, from in-branch to mobile banking and digital onboarding.
“The solution encompassing the ID-Pal functionality embedded in the MemberPass wallet, along with Sherpa’s back-end integration capabilities, provides credit unions with the opportunity to implement a next-generation identity verification process and digital exchange for members,” said John Ainsworth, president and CEO of CULedger. “The solution also provides meaningful improvements to the new member experience and offers a significant reduction in operational expenses for credit unions.”
Sherpa Technologies is ID-Pal’s exclusive identity verification solution partner for the U.S. credit union market and was one of the original investors in CULedger. In 2019, Sherpa and CULedger entered into a Letter of Understanding (LOU) to collaborate on the development and delivery of a streamlined, identity verification and digital identity issuance method to credit union members. “We chose to become an investor in CULedger more than a year ago due to its promise to deliver an innovative digital experience for digital identity and access to an open platform for the accelerated enablement within the credit union industry,” said Riddle.
Registration is open for an upcoming webinar demonstrating how the ID-Pal/MemberPass new member enrollment process works.