Traditional financial service providers continue to search for ways to maneuver the perilous competitive waters stirred up by fintech providers.
The Curql Collective offers a collaborative approach that provides “swim lanes” allowing credit unions to navigate these waters. The credit union service organization’s (CUSO’s) flagship, Curql Fund I, “brings transformative technology to the credit union industry,” says Nick Evens, president/CEO of the Curql Collective.
Members Development Co. incubated the idea and launched the collective as two independent CUSOs in 2020. The collective includes 68 limited partners made up of credit unions, CUSOs, National Cooperative Bank and a league service corporation.
While Curql Collective provides collaborative solutions that benefit both fintechs and credit unions, limited partners invested directly in Curql Fund. Evens says the arrangement makes credit unions more attractive and relevant as partners, a place where fintechs can access capital incubation and piloting opportunities.
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