CUneXus Solutions, a Santa Rosa, Calif.-based provider of data-driven consumer lending solutions designed to help financial institutions maximize the potential of relationships, on Wednesday said it added 27 financial institution clients in 2017.

According to the company, the number of institutions using its lending and marketing automation technology jumped to 72 in 2017 from 45 FIs in 2016. CUneXus said it now has a “captive audience” of more than 6.5 million consumers across the United States.

The company reported the CUneXus “1-click” borrowing experience has generated more than 140,000 loans totaling upwards of $2.5 billion, and currently is averaging more than $6 million in new loan requests each day.

CUneXus noted it serves many of the nation’s largest credit unions and community banks, including Digital Federal Credit Union, Redstone Federal Credit Union, Arizona Federal Credit Union and CAP COM Federal Credit Union.

In 2017, CUneXus said it established new product integrations with digital banking and loan origination systems.

“These extraordinary end-of-year results reflect the excitement and momentum CUneXus generated in 2017, when we expanded our product line, announced new distribution channels and partnerships, and added dozens of new bank and credit union customers,” CUneXus CEO Dave Buerger said in a statement.

CUneXus offered three examples of how it has helped institutions realize gains in back office efficiency and lending activity since its launch in 2014:

  • One client recently reported its loan processing times have been cut in half
  • An $8 billion credit union reported an immediate 110 percent increase in pre-approved lending activity
  • A $1.5 billion credit union executed a CUneXus-supported, pre-approved lending campaign and measured a 135 percent increase in funded loan amounts with CUneXus’ technology

“The standard lending model is based on the idea that consumers will come looking to borrow funds,” said Bradley Leimer, managing director and head of fintech strategy at Explorer Advisory & Capital. “Instead of waiting for the consumer to act, CUneXus has built a system where, via banking apps and other means, a series of customized offers can be perpetually in front of consumers.”
“With more product announcements, clients and partnerships on the way, we are on track to surpass $5 billion in loans by year-end 2018,” Buerger asserted.

CUneXus Solutions was recognized by American Banker’s Fintech Forward as one of just 20 startups to watch in 2017. American Banker is a sister publication of Credit Union Journal.