Eltropy, a “digital conversations platform,” announced it had surpassed 600 community financial institutions (CFI) customers.
As part of the achievement, the company “announced it is boosting investments in Generative AI and product R&D by 36% in 2024.”
Eltropy’s Generative AI products have seen adoption “with more than 50 of North America’s leading community banks and credit unions having signed up.”
Ashish Garg, Co-founder and CEO of Eltropy, said:
“It’s an enormous privilege to reach this milestone. We are thankful to credit unions and community banks across America for trusting us with their digital conversations and AI innovation during this transformative era. But we haven’t done it alone. Eltropy is the most trusted fintech in our space today because of our customers, our employees, our partners, and most importantly all the millions of people who use our products on a daily basis.”
Barb Lowman, President of CUNA Strategic Services, which connects credit unions to innovative industry-specific solutions that help drive membership growth and operational excellence, shared:
“We’ve enjoyed watching Eltropy’s evolution from being the best text messaging provider in 2019 to becoming the ‘best’ AI-powered digital conversations platform on the heels of the new Generative AI products they have created exclusively for the CFI industry.”
As noted in the update:
“CFIs are constantly responding to evolving member demands, compliance needs and talent shortages, all while trying to keep costs manageable. Having a single partner that is staying ahead of the innovation curve and can support you cross functionally with a single platform with all the tools you need to engage, sell to, or service your members, is a huge plus for credit unions.”
Eltropy’s 600 credit union and community bank customers reportedly “include Magnifi Financial, Barksdale Federal Credit Union, Eglin FCU, Financial Edge, ACFCU, First Credit Union, Highmark Federal Credit Union, PeopleFirst FCU, and TruStone Financial CU—to name just a few.”
Following a solid 2022 in which it acquired two industry leaders, POPi/o (video banking) and Marsview AI (contact center intelligence), 2023 was key for Eltropy innovation “with the launch of the industry’s first AI powered digital conversations platform that brings text, chat, web, voice, video, and a suite of generative AI capabilities into a single platform.”
As covered, Eltropy is the industry’s AI-driven digital conversations platform “for community financial institutions (CFIs).”
Its AI-driven communications tools empower CFIs “to communicate, automate, improve operations and engagement, and increase productivity across the institution – all while maintaining the highest standards of security and compliance.”
Using Eltropy’s platform, CFIs can connect “with their consumers anytime, anywhere via Text, Video, Secure Chat, co-browsing, screen sharing, and chatbot technology — all integrated into a single platform.”