AKUVO, a technology-based Credit Union Service Organization (CUSO) specializing in portfolio risk and delinquency management for financial institutions, today announced an investment from Coastal Federal Financial Group (CFFG), a CUSO of the $4.5B Coastal Credit Union, based in Raleigh, N.C.
This investment, along with a recent private funding round, will be used to accelerate the development and marketing of the company’s flagship product, Aperture. Aperture is the industry’s first integrated portfolio analytic and delinquency management platform developed from the ground up for the cloud. Built on the Microsoft Azure platform, Aperture features the latest data science tools, like AI (Artificial Intelligence), Machine Learning and Natural Language Processing.
“The significant interest, and this financial investment we’ve seen, validates a confidence that credit unions have a genuine desire to partner with fintechs like AKUVO. The ability to leverage AI and other applications of data science will allow credit unions to thrive and accelerate growth in today’s complex and competitive environment,” said Jay Mossman, Founder and CEO of AKUVO.
“We’re excited about our partnership with AKUVO and are looking forward to being able to employ the Aperture technology to further optimize our operations, “said Jim Pack, Coastal Credit Union’s chief member service officer.