“Solutions such as CuneXus simply address the holy grail for consumers.”
No Application Necessary
CuneXus Solutions was founded by financial services and technology veterans determined to transform consumer lending by making it possible for lenders to deliver the personalized, automated, mobile customer experience consumers have come to expect, while at the same time helping lenders grow loan volume and revenue by being with consumers as they shop.
In 2013 the team released Comprehensive Pre-Screened Lending (CPL) express, or CPLXpress, a first-of-its-kind lending platform that makes it extremely easy for financial institutions to offer pre-approved, “click-to-accept” consumer loans to customers where and when they need them–no application necessary. The CPLXpress platform delivers personalized offers to customers’ phones, computers and tablets, using a combination of the bank or credit union’s customer information and lending criteria, as well as customer credit history, behavior and location.
A customer walking into an auto dealership, for example, can know exactly how much borrowing power they have and at what rate, and the loan is only a click away. Shop, borrow and buy. The experience can be repeated for any consumer loan type. The customer knows his or her buying power at all times, and the lender has an advantage over competitive retail financing offers.
In its first twelve months on the market, the CPLXpress platform was responsible for over $200,000,000 in consumer loans funded. Since then, the CuneXus team has expanded its product line, announced new distribution channels and partnerships, and added over 100 bank and credit union customers.
CuneXus was named one of just ten startups to watch on KPMG’s global report of “The 50 Best Fintech Innovators”; was named one of 20 FinTech Forward “Companies to Watch” by American Banker and BAI; received the 2019 “Innovation in Lending” award from Callahan and CreditUnions.com; and was recognized by LendIt Fintech as the “Top Emerging Technology Company” in 2019.
“The standard lending model is based on the idea that consumers will come looking to borrow funds. But instead of waiting for the consumer to act, CuneXus has built a system where, via banking apps and other means, a series of customized offers can be perpetually in front of consumers.”
CPLXpress regularly screens account holders, qualifies them and offers products like home equity, auto, credit card, overdraft, recreational vehicle, consolidation loans and more, delivering these offers as they shop, empowering borrowers with knowledge of their purchasing power and helping them avoid retailers’ more costly loan products.
“Most auto buyers use their time and energy to research the vehicle. The financing is an afterthought. That’s why a pre-approved simple digital experience can make all the difference.”