DCU and CUneXus to Launch Mobile Lending Platform that Delivers Pre-Approved, Personalized Loans
First phase of DCU’s mobile lending strategy allows it to offer “click to accept” loans to members based on each user’s location, actions, and credit
Santa Rosa, California – April 19, 2016 – CUneXus Solutions, a leader in omni-channel, application-free lending technology, announced that it has partnered with DCU (Digital Federal Credit Union) to integrate the company’s cplXpress “click to accept” lending platform with DCU’s mobile lending platform. The partnership allows DCU to deliver personalized pre-approved loan offers to their members based on location, behavior, credit, and on DCU’s lending criteria for each member.
“The CUneXus solution will help us enhance our mobile lending strategy and support our long term vision that all members achieve their financial goals as well,” says DCU senior vice president of Retail Lending Craig Roy. “It gives us the ability to underwrite, close, and fund loans quickly and efficiently, as well as deliver an easy to use front end that members will love.”
DCU is the largest credit union based in New England, with nearly $7 billion in assets and more than 550,000 members nationwide.
CUneXus has also partnered with mobile personalization platform maker MobileRQ to add geo-targeting and contextual content delivery to DCU’s mobile lending solution. MobileRQ helps companies enable their mobile applications to serve highly personalized in-app content and messages to customers based on behavioral, time, and geographic triggers.
“We are proud to partner with CUneXus and their pioneering consumer lending solutions,” says MobileRQ CEO Tyler McKinley. “Data-driven, customer interactions within credit union and banks’ own mobile apps are the future of consumer lending. Combining the CUneXus on-demand lending solution with MobileRQ’s data-driven, mobile personalization platform enables financial institutions to drive multi-product revenue growth and to simply service their customers and members better.”
CUneXus’ comprehensive pre-screened lending technology cplXpress, combined with MobileRQ’s advanced mobile content and messaging capabilities, will allow DCU to tailor loan offers to their members based on their borrowing capacity and the credit union’s lending criteria, and then push the offers to members as they live, work and shop. For example, a member entering an auto dealership might receive a notification from DCU that he or she is already pre-approved for a $50,000 loan, with the terms outlined. Acceptance is now only a click away.
The result is more transparency, convenience and purchasing power for the member and an opportunity for the credit union to make its loan offer available before the member enters the showroom.
“DCU has grown to be the largest credit union in New England by offering great products and great service,” said Dave Buerger, co-founder, and CEO of CUneXus. “We’re excited about this partnership that allows DCU to deliver a new level of mobility and convenience to their members.”
DCU will also be the first to roll-out CUneXus’ latest product, AutoXpress. The result of a partnership between CUneXus and Edmunds.com, AutoXpress enables a complete end-to-end auto purchasing experience within the lender’s existing online and mobile banking platforms. Buyers can browse local dealership inventory in real-time, view pre-negotiated pricing, select from pre-approved loan options, review payment scenarios, and complete their vehicle purchase from anywhere with just a few clicks. Slated for general availability mid-summer, the company will demo this new solution at FinovateSpring, in San Jose on May 10th.
Founded in 2007, CUneXus is focused on data-driven consumer lending solutions that help financial institutions maximize the potential of valuable customer relationships. Their 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 dozens of financial institutions and has generated hundreds of millions of dollars in consumer loan volume. CUneXus has presented the cplXpress product line at Finovate, the Innotribe Startup Challenge, Bank Innovation, NetFinance Interactive, and more. The startup was also named one of just ten startups to watch on KPMG’s global report of “The 50 Best Fintech Innovators of 2014,” and selected to participate in the Silicon Valley’s renowned Plug & Play Fintech accelerator. Visit the CUneXus website for more information: http://cunexus.com/
Digital Federal Credit Union, better known as DCU, is a not-for-profit financial cooperative owned by and operated for its members. DCU was chartered in October of 1979. Since then, DCU has been chosen as the credit union for more than 700 companies and organizations. DCU serves more than 550,000 members and their families in all 50 states. With headquarters in Marlborough, Massachusetts, DCU is the largest credit union headquartered in New England as measured by assets..
MobileRQ is a pioneer in contextual mobile marketing. Our mission is to help our enterprise customers drive loyalty and revenue by creating the most engaging and relevant mobile experiences for their customers and then instantly measure results. The RQ in MobileRQ stands for the Relevance Quotient. Many messages and in-app content will match a user’s context, but mobile devices only have a limited amount of screen real estate to display them. Using intelligent analysis of the content, the user, the user’s context, and previous in-app behavior, MobileRQ assigns a Relevance Quotient to the app content. The higher the RQ, the more likely the person will find this content to be relevant and engaging thereby delivering the most personalized experience for each user.