Wednesday, October 21, 2020
Home Insurance CUNA Mutual Acquires Digital Consumer Lending Platform CuneXus

CUNA Mutual Acquires Digital Consumer Lending Platform CuneXus

CUNA Mutual Group is increasing its digital capabilities by buying CuneXus, an internet and cell lending platform.

CUNA Mutual Group grew to become an early-stage investor in CuneXus by means of its enterprise capital entity, CMFG Ventures, in 2017. Phrases of the transaction weren’t disclosed.

The CuneXus digital advertising and gross sales platform allows monetary establishments to supply pre-approved, “click-to-accept” client loans to clients the place and after they want them.

The platform makes use of a mix of a financial institution’s or credit score union’s buyer data and lending standards, in addition to buyer credit score historical past, habits and site to determine mortgage gives for customers – with no utility vital.

“We’re persevering with our journey right into a extra various, digital-first world,” stated Robert N. Trunzo, president and CEO, CUNA Mutual Group. He stated utilizing know-how to “improve customers’ entry to monetary options that work for them and create a extra equitable monetary system and society” is a prime precedence for the insurance coverage and monetary companies firm.

Dave Buerger, CEO, CuneXus, stated the 2 agency’s capabilities and tradition “align very nicely” and he believes CuneXus can “drastically improve CUNA Mutual Group’s digital evolution within the lending area.”

California-based CuneXus Options stated it at the moment works with greater than 140 monetary establishments. It was named as a start-up to look at on KPMG’s international report of “The 50 Finest Fintech Innovators” and the winner of the “Finest Shopper Lending Firm” within the 2020 Fintech Breakthrough Awards.

CuneXus will proceed to function in its Santa Rosa, California location.

Madison, Wisconsin-based CUNA Mutual Group gives insurance coverage, funding and monetary companies.

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