CU*Answers and Daon extend partnership to deliver biometric authentication to credit union members
160+ credit unions now using Daon’s IdentityX® Platform for secure and convenient authentication
GRAND RAPIDS, MI (June 23, 2020) — Daon, a global leader in biometric identity technology, and CU*Answers, the Grand Rapids, Michigan-based cooperative Credit Union Service Organization (CUSO), today announced their partnership, which delivers secure and convenient authentication solutions to more than 160 credit unions and their members, will be extended for an additional three years.
CU*Answers first introduced its Multiple Authentication Convenience Options (MACO) product, powered by Daon’s IdentityX® as a Service, in its Internet Retailer Support Center (IRSC) in 2018, with over 60 credit unions using the product in just the first month of its release. MACO offers four different authentication types, including voice recognition, PIN, fingerprint and face recognition—providing secure and convenient alternatives to the typical password experience for members accessing their accounts within a mobile app.
“We are very pleased with the rapid adoption of Daon’s IdentityX platform by CU*Answers and its credit union members and believe this is a testament to CU*Answers’ commitment in delivering more seamless, secure and convenient identity assurance,” said Tom Grissen, CEO, Daon. “We look forward to being a part of CU*Answers’ continued success and to help drive new innovations that maximize member convenience.”
Members took to the newly available options quickly as CU*Answers saw massive adoption of the service within the first year. That adoption rate has continued to climb, with active users increasing over 235%. “The development of MACO and our partnership with Daon has been part of our strategy to place additional resources and focus on our mobile strategies,” said Geoff Johnson, President and COO, CU*Answers. “By extending our partnership with Daon, we ensure credit unions and their members continued access to a valuable feature in our mobile app toolset.”
MACO’s mobile-first authentication capabilities, powered by Daon’s IdentityX® as a Service, allow credit unions to better serve members, enabling quick and easy access, especially as regular business and physical branch operations have been disrupted by the COVID-19 pandemic.
CU*Answers offers expertise in implementing technical solutions to operational needs, and is a leader in helping credit unions form strategic alliances and partnerships. CU*Answers provides a wide variety of services for credit unions including its flagship CU*BASE® processing system (online and in-house) and Internet development services featuring It’s Me 247 online and mobile banking. Additional services include web development, network design and security, and image check processing. Founded in 1970, CU*Answers is a 100% credit union-owned cooperative CUSO providing services to credit unions representing over 2 million members and $21.5 billion in credit union assets. For more information, visit www.cuanswers.com.
Daon, www.daon.com, is an innovator in developing and deploying biometric authentication and identity assurance solutions worldwide. Daon has pioneered methods for securely and conveniently combining biometric and identity capabilities across multiple channels with large-scale deployments that span payments verification, digital banking, wealth, insurance, telcos, and securing borders and seamless travel. Daon’s IdentityX® platform provides an inclusive, trusted digital security experience, enabling the creation, authentication and recovery of a user’s identity and allowing businesses to conduct transactions with any consumer through any medium with total confidence. Get to know us on Twitter, Facebook and LinkedIn.