Following, “an in-depth technology scouting and evaluation process,” FintechAccel | CU, a Fintech innovation platform for the credit union industry, has named 8 startups as that will represent the organization’s inaugural cohort at SherpaFUSE 2019, Sherpa Technology’s annual credit union conference taking place November 4-6 in Tampa, Florida.
FintechAccel | CU resulted from a partnership between Sherpa Technologies and Horizon Two Labs, and the companies say, “The focus is to work with credit union leadership throughout the country to identify and solve issues facing the industry by finding, fostering, showcasing, and partnering with fintech startups.”
The endeavour is addressing an identified need says Keith Riddle, president and CEO of Sherpa Technologies:
“The credit union industry is ready to partner with innovative fintechs… We look forward to evaluating potential relationships that can be forged between the credit unions and our first cohort of startups.”
Kevin Pohmer, Managing Director of FintechAccel and former CEO/founder of Financial Guard says members of the cohort were chosen because their solutions address pressing needs:
“This class of startups represent solutions to real and immediate problems our credit union partners are facing.”
As well, said Pohmer, howcasing the companies might also allow more credit unions to access the potential solutions being created by the startups:
“As we do more showcases and build the FintechAccel | CU alumni network, we see a huge opportunity to find synergies among all stakeholders.”
The eight chosen startups are:
- Arcus – Revolutionizing payments infrastructure. “We’ve built a two-way real time API to provide one trusted, centralized, digitally-enabled banking experience.”
- APiO – Lowering costs, reducing risks and delivering better user experience. “Data acquisition, credit scoring & monitoring for financial firms.”
- CreditSnap – Intelligent Matching Engine (powered by AI) to match customers with (lending) offers.
- Digs – Savings app that helps customers reach homeownership. “Whether you’re saving for a home or already own, Digs makes it easy to build wealth through homeownership.”
- Finovera – Digital bill management and payment platform
- IdentityMind – Createfs and analyzes digital identities for identity proofing, onboarding, and fraud prevention
- Kindur – Managing retirement income for those preparing for and living in retirement. “Turn your hard-earned savings into a streamlined retirement paycheck.”
- Shastic – Digital tools that facilitate omni-channel marketing for financial institutions. “Text Messaging Solutions to Scale Banking Operations and Deliver Superstar Results.”
Participating sponsors of FintechAccel | CU include Corning Credit Union, Gulf Winds Credit Union, Kemba Credit Union, KEMBA Financial Credit Union, Northrup Grumman Federal Credit Union, One Nevada Credit Union, Virginia Credit Union, and Connect Financial Software Solutions (ConnectFSS).