A new year means a new opportunity to make smart investments for your credit union. There are many products, services, and solutions that promise the world in a sound bite, which makes it difficult to determine which ones have real teeth. The Vendor Showcase on CreditUnions.com breaks down the problems leading suppliers solve and gives them a chance to tell credit union leaders about what makes them stand out in a crowded industry.
Click any “read more” button below to learn about each supplier.
Website: blend.com
Headquarters: San Francisco, CA
Service Areas: Point of Sale, Digital Lending Platform
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Website: coalesce.ai/fraud-detection
Headquarters: Boston, MA
Service Areas: Consumer Loans, Fraud Detection
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Website: mycumortgage.com
Headquarters: Beavercreek, OH
Service Areas: Mortgage Lending, Mortgage Underwriting, Mortgage Servicing
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Website: payrailz.com
Headquarters: Glastonbury, CT
Service Areas: Payment Processing, Digital Payments, Bill Pay (A2A & P2P)
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Website: shieldbanking.com
Headquarters: Seattle, WA
Service Areas: Cannabis Banking, Regulatory Compliance, Risk Management
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Website: Silvercloudinc.com
Headquarters: Portsmouth, NH
Service Areas: Credit Union Support Solutions: Digital Support, Chatbot, Policy and Procedure Management
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Website: GoBaker.com
Headquarters: Oklahoma City, OK
Service Areas: Investments, Asset Liability Management, Loan Participations
Blend
Website: blend.com
Headquarters: San Francisco, CA
Service Areas: Point of Sale, Digital Lending Platform
- What unique challenge do you help credit unions solve?Credit Unions are in a unique position to leverage their high touch, customer service driven model to compete in an ever more competitive banking environment. However technology enablement must be a part of any strategy moving forward. A hybrid series of human/digital touchpoints with any origination workflow will continue to evolve and lenders will need to ready to evolve in tandem. Blend empowers credit unions with a timeless member experience across their channels of preference.
- What differentiates you from competitors?Blend is driven to provide lender partners the opportunity to exceed member expectations with an omnichannel lending platform. A core component of shifting consumer expectations is an increasing demand for personalized service. Digital options for engagement — such as apps or online portals — provide an always-on, flexible method for consumers to interact with their credit union. Increasingly, however, this is not enough. Blend is built from the ground up as one unified platform, designed for collaboration. By simplifying the experience for members and your teams as they interact on the same platform across products and touchpoints, your team develops long-term relationships and drives growth.
- How can a credit union learn more about Blend?Working in the heart of San Francisco’s Financial District, Blend is proud to partner with over 200 US lenders big and small. Navy Federal Credit Union is but one of many credit unions Blend partners with provide a first class online lending experience to members. Learn more how Blend is building future-ready technology for credit unions designed to put members first at https://blend.com/solutions/credit-unions/.
Coalesce.ai
Website: coalesce.ai/fraud-detection
Headquarters: Boston, MA
Service Areas: Consumer Loans, Fraud Detection
- What unique challenge do you help credit unions solve?Synthetic Identity Fraud is the fastest growing financial crime, accounting for more than 20% of consumer loan write-offs from only 2% of loans. Coalesce’s Collaborative AI Solution provides an early warning system for credit unions to identify bad actors engaged in Synthetic Identity and other fraud.
- What differentiates you from competitors?Coalesce’s AI product has learned from expert compliance and fraud analysts how to identify more than 80% of Synthetic Identity fraudulent loan applications and other financial crimes. Our AI solution is more effective than rules-based systems that lack flexibility to identify Synthetic IDs and result in false positives, poor customer experience, and unnecessary extra work. Coalesce integrates directly with loan origination systems to detect fraudulent applications before they go through underwriting and ultimately collections. Fraud is a constantly changing landscape. Coalesce.ai continues to learn and improve as new techniques are developed by fraudsters. Our AI Think Tank has advised members of Congress and regulators on using AI to fight financial crime, including a Bill that was passed on October 29 on modernizing financial crime reporting.
- How can a credit union learn more about Coalesce.ai?Visit us at to learn how to stop synthetic identity fraud. We run an AI Think Tank that has been instrumental in passing recent legislation to modernize financial crime detection through innovative technologies. Sign up to learn more how we’re working with Congress, the NCUA, and FinCEN to improve anti-money laundering.
myCUmortgage
Website: mycumortgage.com
Headquarters: Beavercreek, OH
Service Areas: Mortgage Lending, Mortgage Underwriting, Mortgage Servicing
- What unique challenge do you help credit unions solve?Every member and every mortgage are unique—that’s how myCUmortgage approaches them. When credit unions partner with myCUmortgage, you have access to the expertise, resources, and passion of our mortgage experts, combined with digital solutions that enable you to stay in front of your members and keep pace with today’s market expectations. Our mission is to empower credit unions to become great mortgage lenders, grow your mortgage business, and provide the five-star service that your members expect. We are obsessed with creating a new vision for the entire mortgage industry: to better serve members and our partner credit unions, together.
- What differentiates you from competitors?Our people! True to the collaborative credit union model, every myCUmortgage expert is committed to helping credit unions grow your mortgage business and your members achieve homeownership. Our experts make the difference, providing training, marketing, originations, processing, underwriting, servicing, secondary market access, and a full suite of conventional and government products. Plus, we give you the flexibility to incorporate your portfolio loans along with the ability to choose to retain servicing on your portfolio loans. We ensure that credit unions and your members have great mortgage experiences every step of the way.
- How can a credit union learn more about myCUmortgage?Connect in any and all of the ways that work best for you! Feel free to call Wendy Kull, our Credit Union Development Manager, at 937-956-1256 or email her at wkull@myCUmortgage.com. You’re also welcome to visit our website, www.mycumortgage.com. Enjoy the blog posts of Mort the Mortgage Mentor at www.mycumortgage.com/blog and connect with us on LinkedIn at https://www.linkedin.com/company/mycumortgage. Equal Housing Opportunity. NMLS#565434.
Payrailz
Website: payrailz.com
Headquarters: Glastonbury, CT
Service Areas: Payment Processing, Digital Payments, Bill Pay (A2A & P2P)
- What unique challenge do you help credit unions solve?Payrailz is an innovative company with great people and a reputation for being genuine. Built around three core values of respect, integrity and transparency Payrailz is a digital payments company offering advanced bill payment and money transfer solutions to banks and credit unions. In a society that increasingly has become focused on a “do it for me” culture, Payrailz’ smart technology makes the difference. Payrailz’ mission is to create smarter payment experiences for the financial services industry. Payment experiences that are predictive and more engaging than currently available alternatives. Credit Unions can confidently embrace Payrailz’ cloud-based technology engine, including AI, dynamic workflow, open data exchange, and a robust SDK to offer unique payment solutions to their members. Through a combination of experience and forward-thinking product development, Payrailz helps credit unions meet the payment expectations of today and the payment innovation needs of tomorrow.
- What differentiates you from competitors?Smart Payment Experiences: Payrailz leverages modern technology, AI and machine learning to deliver instant value to members resulting in deeper engagement and greater usage.
Smart Payments Engine: Payrailz has the ability to mix and match different payment rails to fund and deliver payments in unique ways to optimize the delivery of a payment in a secure and safe manner.
Service: Payrailz has the most modern technology, but we go back to basics when it comes to client service. Our clients will have dedicated resources, customized implementation/conversion plans, and a direct line to knowledgeable Payrailz employees. Our Client Experience Team is always on call to answer any inquiry and work to deliver fast and efficient solutions, as well as proactively provide insights to help clients succeed.
CU Railz – the Smart Payment CUSO: CU Railz was founded by credit unions and Payrailz to better enable credit unions to take control of their future by partnering with Payrailz to collaborate on new, innovative payment technologies and services that will revolutionize the payments experience.
- How can a credit union learn more about Payrailz?To learn more about Payrailz contact Mickey Goldwasser at mgoldwasser@payrailz.com or visit www.payrailz.com.
Shield Compliance
Website: shieldbanking.com
Headquarters: Seattle, WA
Service Areas: Cannabis Banking, Regulatory Compliance, Risk Management
- What unique challenge do you help credit unions solve?Over the past few years, the legal cannabis industry has flourished. Despite strong growth, marijuana is an illegal substance under federal law, causing many credit unions to remain on the sidelines of this burgeoning market. While financial institutions should evaluate the risks associated with serving this industry, we believe the greater barrier to entry is related to efficient compliance with FinCEN guidance. Shield’s automated, data-driven BSA/AML compliance management platform aggregates and organizes essential data, allowing risk managers to focus on judgmental decision making. Shield’s solution creates efficiencies that enable credit unions to unlock new sources of low-cost deposits and scale operations
- What differentiates you from competitors?Compliant banking operations for the legalized cannabis industry require continuous enhanced due diligence that reaches beyond traditional BSA/AML compliance tools. Shield delivers a complete picture of compliance by aggregating transaction data and demographic records with restricted and publicly available information from state and local governments, seed-to-sale tracking, and client financial statements. Real-time alerts and streamlined government reporting allow credit unions to identify and address anomalies quickly and act if needed. Shield’s compliance management platform is white-labeled to the financial institution and we do not disintermediate the relationship between the credit union and client.
- How can a credit union learn more about Shield Compliance?Shield Compliance is transforming the way credit unions manage risk, comply with regulations, and satisfy operational demands associated with serving the legal cannabis industry across the United States. To learn more about us, please visit our website at . You are also welcome to contact Brian Storey, Business Development Officer, at 303-870-8342, brian@shieldbanking.com. We look forward to speaking with you.
SilverCloud
Website: Silvercloudinc.com
Headquarters: Portsmouth, NH
Service Areas: Credit Union Support Solutions: Digital Support, Chatbot, Policy and Procedure Management
- What unique challenge do you help credit unions solve?SilverCloud helps credit unions deliver the support that’s missing in their digital and employee channels by transforming old, manual ways with answers that are easy to find, follow and manage.
- What differentiates you from competitors?SilverCloud only works with banks and credit unions and therefore has developed two unique solutions built specifically for financial institutions and their unique challenges. The solution to fixing these problems requires more than technology — it requires content, process, and the right technology. SilverCloud provides all three and is able to deliver solutions that work within 90 days even if credit unions have limited resources, time, and budget.
- How can a credit union learn more about SilverCloud?Credit unions can learn more about SilverCloud by visiting our website at silvercloudinc.com. While our website offers a lot of great information, to truly understand the value of SilverCloud, we recommend a Digital Channel Best Practice Review at .
The Baker Group
Website: GoBaker.com
Headquarters: Oklahoma City, OK
Service Areas: Investments, Asset Liability Management, Loan Participations
- What unique challenge do you help credit unions solve?Since 1979, The Baker Group has helped clients improve decision-making, manage interest rate risk, and maximize overall performance. We have accomplished this by designing a platform that offers solutions across the entire balance sheet, basing our strategic planning on each client’s individual ALM position and results. Anyone can sell you a bond or run a report. We take pride in ensuring that our clients purchase the right assets for their balance sheets based on strategic analytics and conversations with their management teams. Simply put, we offer better performance with a completely custom, client first approach.
- What differentiates you from competitors?Our experienced team manages each client relationship independently. We don’t subscribe to the “one size fits all” approach that has recently taken over the financial space. Each balance sheet requires a different approach, and we take pride in building those strategic solutions one by one. Our platform includes many tools and paths that offer flexibility in the strategic plans we craft. Investment portfolio management, loan participations, ALM, and access to wholesale funding are just a few of the areas where we can help. We offer you a partnership as an extension of your management team instead of just another broker.
- How can a credit union learn more about The Baker Group?If you are interested in learning more about The Baker Group and what a partnership with your credit union can offer, please contact Andrew Okolski. Andrew is our Director of Credit Union Strategies and will be able to answer any questions you may have. The Baker Group runs quarterly strategy webinars for all of our credit union clients. These webinars discuss regulatory updates, industry trends, and executable strategic solutions that are working for our other credit union clients. We look forward to discussing your specific situation and demonstrating what has made our firm a success for 40 years and counting.
Are you a supplier interested in participating in a themed Vendor Showcase in 2020? Contact Callahan & Associates here.
*The listings included in this Vendor Showcase are sponsored by the suppliers. Callahan & Associates and CreditUnions.com do not endorse vendors or the solutions they offer.