Furthering the mission to “Reach Connect Succeed,” the New York Credit Union Association and its affiliate UsNet have announced their partnership to support continued innovation for the Illuma Shield™ voice verification solution from Illuma, a Texas-based CUSO. This funding marks the latest round of investment from credit-union focused groups as the fintech expands deployment to more credit unions.
Better Member Experience Benefits All Credit Unions
Maintaining a reputation for superior member experience compared to big banks has long been the hallmark of the credit union industry.
For this reason, digital transformation that meets or exceeds user expectations while preserving the personal touch of the local branch is a top priority. As more credit unions enhance their brand reputation by implementing state-of-the-art technology, this elevates the industry as a whole.
The Asociation and UsNet are supporting this goal by investing in technology that helps more credit unions achieve their goals for member experience and account security.
“The New York Credit Union Association and UsNet are thrilled about the possibilities that Illuma Labs’ technologies will bring to credit unions as they continue to enhance their digital presence and elevate the member experience,” said William J. Mellin, Association president/CEO. “At the same time, Illuma Labs’ technology elevates account security and member confidence, while maintaining credit unions’ unique position as local providers of financial services that they are so well known for — so this partnership is a win for all.”
Illuma Labs will play a key role at EXCEL 22 this weekend at the Sagamore Resort on Lake George. In addition to Illuma Labs serving as a premier sponsor and exhibitor at EXCEL 22, Dr. Milind Borkar, Illuma Labs founder/CEO, will lead a Learning Lab discussion for attendees exploring the challenges of meeting expectations for streamlined, welcoming credit union contact center interactions, the current threat landscape for fraud/account takeovers and how to balance risk mitigation with member experience.
“This technology uses state-of-the-art artificial intelligence, machine learning, and voice biometrics to address three of the top concerns for credit unions today,” said Borkar. “The platform improves member experience by emulating the warm welcome of a brick-and-mortar visit while offering a very high level of protection against account takeovers. Cutting out the security Q&A process also creates operational efficiency by shortening call times. The infusion of investment from NYCUA and UsNet is highly valued since it helps us expand to serve even more credit unions.”