MADISON, Wis. – CUNA Mutual Group said it and State National Companies, its partner on collateral protection insurance, are joining with Akcelerant, a provider of connected software technology, to improve CPI collections activities for credit unions.
The three companies said their partnership will provide credit unions with a single platform to execute daily collection activities, such as accessing CPI details, filing claims, tracking claims and other functions.
The connector is in development and will be available for credit union implementation in early 2013. The partnership was announced at the 2012 CUNA Lending Council Conference.
Akcelerant said its Framework connects customers to key services with innovative service providers, creating the optimal work environment for financial institutions looking to get the most out of their collections operations.
CUNA Mutual Group and State National Companies formed an alliance to provide tracked CPI to credit unions in 2009. That alliance protects more than 340 credit unions’ collateral and has grown 55% in three years due to strong market demand, they said.
State National Companies tracks loans for 600-plus lenders.