Origence, CuneXus partnership gives credit unions access to digital storefront
Proactive, personalized loans boost financial wellness and drive retention
SANTA ROSA, CA (August 3, 2021) — CuneXus, the first and only digital storefront for financial institutions’ customers and members, today announced a strategic partnership with Origence, a leading lending technology provider for the credit union industry.
This partnership provides the more than 1,100 credit unions using Origence indirect lending solutions with access to an integrated digital storefront that proactively presents members with timely, personalized, relevant and highly effective pre-approved loan offers to make financing easier. The offers that can be activated with a simple 10-second experience, allow members to go shop with confidence and take advantage of their offers when they are ready. The process is proven to boost credit union loan redemption rates while enhancing the member experience.
Aleks Bogoeski, VP of strategic alliances at Origence, commented, “This digital storefront transforms the way credit unions can support their members financially. Anytime members log in, they are instantly presented with a clear and personalized, readily available loan offer. Our partnership with CuneXus provides a timely opportunity for credit unions to implement a dynamic digital experience that further simplifies the lending process, as member spending returns to a normal, post-pandemic pace. We are happy to have partnered with CuneXus to bring this service to our credit unions.”
Instead of waiting for consumers to act, CuneXus’ platform continuously analyzes hundreds of internal and external data points, keeping qualified borrowers perpetually approved for an array of personalized loan offers. This proactive “Perpetual Approval” strategy ensures that the credit union is “top of mind” anytime their members enter into a purchase market. Furthermore, by eliminating the credit application process in favor of an ongoing automated credit approval, the credit union can then provide the nearly instant shop-borrow-buy experience that consumers crave.
Dave Buerger, co-founder and president of CuneXus, added, “We are focused on changing the way credit unions interact with their members, and this means tearing down old, and painful banking experiences. We’re empowering people with unrivaled transparency and convenience, and this partnership with Origence makes that easily accessible to many more credit unions and consumers. Together, we can provide the modern, seamless lending experience that members deserve, one that equips them for financial excellence.”
CuneXus, a wholly-owned subsidiary of CUNA Mutual, is the first to market with a digital storefront for financial institutions’ account holders, addressing the need for a personalized, on-demand banking experience. The platform eliminates the loan application process, providing consumer transparency and a simple 10-second activation experience. The CuneXus digital storefront has helped the largest lenders in the country to grow wallet share, create sales-enabled branches, execute new account holder acquisition, and grow non-interest income. CuneXus client institutions represent over $596 billion in combined assets and 30 million U.S. consumers, funding $60-$70 million in loans daily. For more information, visit www.cunexus.com.
Origence, a CU Direct brand, provides lending technology that enhances the origination experience to increase loan volume, create efficiencies, and grow accounts. With Origence, financial institutions can provide mortgage, consumer, indirect, and home equity loans with greater efficiency and increased scale while also delivering a convenient and personalized experience to borrowers. Further solutions include, marketing and CRM, auto shopping, outsourced loan processing, and more. Origence is headquartered in Irvine, California. For more information, visit www.origence.com and follow us on Twitter and LinkedIn.