DALLAS–New book releases, AI tools for mortgage lenders, vendor management solutions and more are the latest to be featured in this new edition of the CU Daily Shopper, a synopsis of new product and service offerings to credit unions.
BankSocial Annouces Becky Reed Book on Cooperative Finance
DALLAS — BankSocial, announced the upcoming release of “FinCo 2050: The Ownership Revolution,” a book by Chief Experience Officer Becky Reed examining how community financial institutions can use emerging technology while preserving member relationships.
The company said the book explores distributed ledger technology, consumer-controlled digital identity and cooperative artificial intelligence. Topics include integrating decentralized financial systems, using private AI tools to support employees and connecting traditional deposits with digital financial services.
Reed, a former credit union CEO, has more than 20 years of financial services leadership experience, according to BankSocial.
To order, go here.
nCino Introduces AI Tools for Mortgage Loan Officers
WILMINGTON, N.C. — nCino has introduced a Loan Officer Productivity Suite that uses artificial intelligence and automation to help mortgage originators answer questions, evaluate applications and handle routine tasks, the company said.
The tools operate within its Mortgage Solution, using each institution’s data, product guidelines and workflow rules.
Features include a conversational assistant that answers questions about loan files and guidelines and performs routine actions with loan officer approval. Other tools evaluate borrower eligibility, summarize automated underwriting findings, automate disclosures and streamline preapprovals.
The suite also allows loan officers to connect their own AI agents to nCino’s mortgage system.
Educated Mortgage is using features in daily workflows, while Security National Financial Corp. is preparing to equip its loan officers, nCino said.
Alkami Reports Digital Banking Gains at Texans Credit Union
DALLAS — Texans Credit Union increased active digital banking users by 42% after implementing Alkami’s Digital Banking Platform, the company said.
Alkami said Texans also doubled online accounts booked in the first month after launching MANTL account-opening tools. The credit union received more than 1,200 applications and nearly $11.5 million in deposits during the first six weeks of its branch implementation.’
Average account-opening time fell to about 5.7 minutes across channels, while the branch process became up to five times faster, according to Alkami.
Texans used Alkami’s development tools to build My Texans Hub and added integrations for payments, fraud prevention, mobile deposits and member service. Its net promoter score rose from 73.6 to 89.4, Alkami said.
CrossState Solutions Partners with CUVM on vendor oversight
HARRISBURG, Pa. — CrossState Solutions announced a partnership with CUVM to connect Pennsylvania and New Jersey credit unions with vendor management and due diligence services.
CrossState Solutions, the service corporation owned by the CrossState Credit Union Association, said the arrangement is intended to help credit unions track contracts, risk ratings, renewals and documentation for examiners.
CUVM offers full-service and self-service options through a cloud platform with centralized document storage, automated notifications, reporting and access controls. Full-service clients also receive support and training from a dedicated analyst.
Credit unions can contact CrossState Solutions for an introduction or demonstration, the company said.
Cultivate AI Opens Platform to Credit Unions and CUSOs
DURHAM, N.C. —Cultivate AI announced that its artificial intelligence platform is available to all credit unions and credit union service organizations.
The platform originated with Vertice AI, which partnered with Vizo Financial Corporate Credit Union and Filene Research Institute to develop it, according to the announcement.
Cultivate AI said employees can use the tools to search National Credit Union Administration rules and guidance, review internal policies and compare institutional performance using peer Call Report data.
The founding partners first publicly presented the concept in March at America’s Credit Unions’ Governmental Affairs Conference.
Early users include Carolina Trust Federal Credit Union and evergreenDIRECT Credit Union, according to the announcement.
ValidiFI Introduces Compass Tool for Account and Payment Risk
ALPHARETTA, Ga. —ValidiFI, Inc. has introduced Compass, a tool that combines bank account validation with identity, ownership, fraud and payment-risk information, the company said.
Delivered through a single application programming interface, Compass directs inquiries to data sources based on available information and a customer’s workflow.
Results can include account status and history, identity and ownership matches, suspicious contact information, prior account relationships and known fraud activity, depending on the application and data provided.
ValidiFI said a recent customer analysis found that accounts with risk signals missed by validation alone generated seven times more automated clearinghouse returns. The announcement did not provide the analysis’s sample size or methodology.
Configurations can be tailored to customers’ policies and risk tolerance, the company said.
Lumin Digital Reports Seven Launches Serving Nearly One Million Users
SAN RAMON, Calif. — Lumin Digital said seven financial institutions completed launches on its digital banking platform, bringing nearly 1 million users onto the system.
The company said all seven implementations finished on time and within budget. Two institutions were undergoing mergers during the transitions.
The launches covered consumer and business banking, digital account opening, payments, fraud protection and analytics across three core processing systems: Symitar, Corelation Keystone and Fiserv DNA.
Lumin identified five participating credit unions: Freedom in Philadelphia; Premier America in Chatsworth, California; Wings, formerly Ent, in Colorado Springs, Colorado; Neighbors Federal in Baton Rouge, Louisiana; and Point Breeze in Hunt Valley, Maryland.
SWIVEL Launches Payment Reminder and Response Service
SAN ANTONIO — SWIVEL introduced PayPrompt® Pro,, a digital communications service that lets financial institutions send payment reminders and borrowers initiate payments by text, the company said.
The SWBC subsidiary said borrowers can respond to a reminder with “Y” to initiate payment rather than clicking a link. Other features include automated reminders, direct links to payment actions and immediate payment confirmations.
The service integrates with financial institutions’ existing platforms and uses their branding throughout the payment process.
SWIVEL said the product is intended to help lenders reach borrowers before payments become delinquent and simplify payment reconciliation. PayPrompt Pro is available as a standalone service.
MyUSA Credit Union Selects Dolphin Debit for ATM Management
HOUSTON — MyUSA Credit Union has selected Dolphin Debit to manage its ATM fleet after its longtime management provider went out of business while the credit union faced a costly equipment upgrade, Dolphin Debit said.
The Middletown, Ohio-based credit union has more than 18,000 members, $355 million in assets and 10 ATMs, including one at each of its eight branches, according to the company.
Kendrick Walker, MyUSA’s vice president of marketing, said recommendations from other Dolphin clients and the company’s ability to move quickly influenced the decision.
Walker said consistent service was a priority because the credit union had experienced ATM downtime. Dolphin is maintaining reliable access for members, he said.
Sharetec Partners with Superior on Retirement and Health Savings Accounts
FORT WAYNE, Ind. — Sharetec announced a partnership with Superior IRA & HSA to help credit unions administer individual retirement accounts and health savings accounts.
Sharetec said Superior’s platform provides guided compliance workflows and handles required minimum distributions, recurring distributions, withholding notifications, beneficiary claims and tax document filing.
The system also supports electronic signature integrations, customized user roles and branch-level administration. Staff can obtain assistance by phone, live online chat or email.
Several Sharetec credit unions already use Superior, and the companies plan to jointly support institutions using both platforms, according to Sharetec.
The companies said the partnership is intended to reduce administrative costs, staff workload and compliance risk.
Floify Adds Asset Verification to Mortgage Platform
BOULDER, Colo. — Floify added asset verification to Floify Verify, allowing mortgage lenders to verify borrowers’ income, employment and assets through one service, the company said.
Powered by Argyle, the feature lets borrowers connect bank accounts during an application, with document uploads available as a fallback. Loan officers can also initiate verification or request updated information.
Lenders can choose transaction histories ranging from 15 days to two years. Floify said the system suppresses duplicate bank statement requests and combines verification charges on one invoice.
Reports meet eligibility requirements for Fannie Mae’s Day 1 Certainty and Freddie Mac’s AIM programs, according to Floify.
Checking and savings accounts are supported at launch. Investment accounts are planned for a future release.
