“1-Click” Lending Automation Platform Exceeds $2.5 Billion in Loans for More than 70 Institutions
Santa Rosa, California – Feb. 22, 2018 – CuneXus Solutions, recognized by American Banker’s Fintech Forward as one of just 20 startups to watch in 2017, has lived up to predictions, achieving end-of-year results that reflect explosive growth in all major markets. The number of client institutions leveraging the CuneXus’ hassle-free lending and marketing automation technology skyrocketed from 45 financial institutions in 2016 to 72 institutions in 2017 with a captive audience of more than 6.5 million consumers across the United States. Industry leaders have continued to notice CuneXus’ stellar growth and innovation, as the company earned recognition as a finalist for “Top Enterprise Technology Company” at the 2018 LendIt Fintech Industry Awards.
Currently averaging more than $6 million in new loan requests each day, the CuneXus “1-click” borrowing experience has generated more than 140,000 loans totaling upwards of $2.5 billion. CuneXus serves many of the nation’s largest credit unions and community banks, including Golden 1 Credit Union, Credit Human, First American Bank, Digital Federal Credit Union, Arizona Federal Credit Union and CAP COM Federal Credit Union. In 2017, CuneXus also established new product integrations with industry-leading digital banking and loan origination systems, enabling the company to provide turn-key solutions to the majority of the U.S. bank and credit union market.
“These extraordinary end of year results reflect the excitement and momentum CuneXus generated in 2017, when we expanded our product line, announced new distribution channels and partnerships, and added dozens of new bank and credit union customers,” said CuneXus CEO Dave Buerger.
CuneXus has helped institutions realize significant gains in back office efficiency and lending activity since its launch in 2014.
- One client recently reported that its loan processing times have been cut in half
- Another $8 billion credit union reported an immediate 110 percent increase in pre-approved lending activity
- A $1.5 billion credit union executed a CuneXus-supported, pre-approved lending campaign and measured a 135 percent spike in funded loan amounts with CuneXus’ technology
“The standard lending model is based on the idea that consumers will come looking to borrow funds,” said Bradley Leimer, Managing Director and Head of Fintech Strategy at Explorer Advisory & Capital. “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.”
“With more product announcements, clients and partnerships on the way, we’re on track to surpass $5 billion in loans by year-end 2018,” added Buerger.
CuneXus is focused on data-driven consumer lending solutions that help financial institutions maximize the potential of valuable customer relationships. Its pioneering technologies are at the forefront of the transition to a new era of responsible on-demand lending and borrowing. The company’s revolutionary cplXpress product suite is currently being utilized by more than 75 U.S. financial institutions and has generated billions of dollars in consumer loan volume. CuneXus was named one of just ten startups to watch on KPMG’s global report of “The 50 Best Fintech Innovators”; was selected to participate in Silicon Valley’s renowned Plug & Play Fintech accelerator; was named one of 20 FinTech Forward “Companies to Watch in 2017” by American Banker and BAI; and is a finalist for “Top Enterprise Technology Company” at the 2018 Lendit Fintech Industry Awards. Visit the CuneXus website for more information: http://cunexus.com/