DCU Grows Loan Volume with Always-On Mobile Loan Pre-Approvals Powered by CUneXus
DCU’s mobile lending program generates “click-to-accept” loan offers to members
Santa Rosa, California – January 10, 2017 – CUneXus Solutions, a leader in omni-channel, application-free lending technology, announced the successful completion of Phase 1 of its partnership with DCU. Phase 1 enables DCU to offer pre-approved “click-to-accept” loans on its mobile lending platform.
“In the first 30 days since we launched, we have already seen a substantial increase in the number of members accepting pre-approved loan and credit card offers,” said DCU Sr. Vice President of Retail Lending Craig Roy. “We’re looking forward to working with CUneXus to launch additional mobile banking functionality in early 2017, including auto buying and financing resources, and contextually-targeted push notifications.”
DCU is the largest credit union based in New England, with over $7 billion in assets and over 600,000 members.
The partnership allows DCU to use CUneXus’ comprehensive pre-screened lending technology (cplXpress) to offer personalized pre-approved loan offers to the credit union’s members based on the borrower’s financial profile and DCU’s lending criteria. In coming months, DCU will be able to push mobile notifications to a member’s smartphone based on location and other mobile signals—for example, notifying members as they enter an auto dealership or retail location that a relevant consumer loan is pre-approved and just a click away.
“This program is part of DCU’s comprehensive mobile lending strategy,” Roy said. “Our continued goal is to provide our members the best possible experience, the convenience they’ve come to expect from DCU, and the purchasing power that they need to reach their financial goals.“
“DCU has long been an innovator in delivering financial services,” said Dave Buerger, co-founder and CEO of CUneXus. “They’re continuing that tradition by providing their members with a truly revolutionary and unparalleled borrowing experience. We’re proud to be working alongside their team to that end, and pleased that they selected our cplXpress platform to power their consumer loan acquisition strategy. Our companies share a common vision, and it’s exciting to see that vision come to life for DCU and our rapidly growing family of client-partners.”
DCU will also be one of the first two U.S. financial institutions to roll-out CUneXus’ latest product, AutoXpress—the result of a partnership between CUneXus and Edmunds.com. AutoXpress will enable a highly-personalized end-to-end auto purchasing experience within DCU’s online banking website and mobile banking app. Members 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.
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 nearly 50 U.S. financial institutions and has generated hundreds of millions 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 the Silicon Valley’s renowned Plug & Play Fintech accelerator, and was named one of 20 FinTech Forward “Companies to Watch in 2017” by American Banker and BAI. Visit the CUneXus website for more information: http://cunexus.com/
DCU is a not-for-profit financial cooperative serving over 600,000 members and their families across all 50 states by offering a full range of financial services to consumers and businesses including banking, lending, financial wealth management, insurance, and realty products. With headquarters in Marlborough, Massachusetts, DCU is the largest credit union headquartered in New England as measured by assets, and is among the top 20 nationwide.
Dave Buerger • President & CEO
50 Old Courthouse Square, Suite 300
Santa Rosa, CA 95404
o: (877) 509-2089 x101
m: (707) 591-1763
John Lahair • Marketing Manager
220 Donald Lynch Boulevard
PO Box 9130
Marlborough, MA 01752-9130
o: (508) 804-6887