Lending

CUneXus Solutions Help Boost Loan Volumes

Problem identification:

With the advancement of technology, the customer demand for more advanced services from financial services industry has also increased.Software developers are providing lenders with instant loan decision solutions that automate underwriting and risk-based lending procedures. These instruments act as important elements of competitive lending strategy. The current economic condition has hindered the majority of small and medium-sized lenders by insufficient marketing budgets and limited information technology (IT) resources. They are incapable of carrying out competitive pre-screened lending programs. Even with a program that is well-rounded, traditional pre-screened loan promotions are costly and inefficient. From a consumer perspective, the demand for newer convenience technologies’ is increasing rapidly. Nowadays, consumers are tech-savvy; they want simplified processes and technologies that are not only time-saving but help in minimizing inconvenience related to everyday tasks and transactions.

CUneXus addresses the problem:

California-based software maker CUneXus Solutions brings the convenience and mobility of “one-click” access—which consumers expect from the banking world—helping banks and credit unions maximize the value and profitability of existing customer relationships. CUneXus Solutions Inc. develops specialized business automation, POS, e-commerce and direct marketing software systems that help lenders boost loan volumes across all product categories and customer touchpoints. The company paves the way to a new era of data-driven, on-demand lending and borrowing.

CUneXus uses comprehensive pre-screened lending (CPL) strategies to help banks and credit unions increase their loan volumes across the entire loan portfolio. CUneXus’ comprehensive pre-screened lending (CPL) system answers the need for integration of advanced risk-based pricing automation, direct marketing, cross-sales tools, delivery channel management and on-demand customer convenience.

CUneXus’ flagship product cplXpress is a comprehensive pre-approved lending software. The platform allows banks and credit unions to send customers “click-to-accept” pre-approved loans. Customers are delivered offers on their phones, computers and tablets based on their financial data, location, behavior and more.

Founders:

Dave Buerger, Co-Founder, President and CEO: Buerger is an award-winning financial services marketer and strategist with a noteworthy record of achievement, spanning a diverse array of marketing mediums and industry verticals.

Darin Chong, Co-Founder and COO: Chong draws from over 17 years of experience in consumer financial services with expertise in marketing, operations and project management.

Funding Received:

$160,000 in one round.

Most Recent Funding:

$160,000 on June 10, 2013 through angel funding.

Solutions:

CUneXus provides the following solutions:

  1. The cplXpress Product Suite:

cplXpress: The cplXpress platform allows lending institutions to automatically issue loan approvals for up to eight different loan products based on their criteria. Once approved, loan offers are delivered through the full CPL suite of online banking apps, marketing automation and cross-selling platforms.

cplXpedite:

  • Online lending platform
  • Mobile lending platform
  • Direct mail
  • Email marketing

cplXsell:

In-branch cross-selling platform

Call center cross-selling platform

  1. Credit Concierge Mobile: Customers can carry their preapproved loan offers in their pocket and conveniently redeem them right at the point-of-purchase. In addition, integrated geo-targeted notifications enable lenders to remind their customers of their pre-approved offers the minute they set foot onto an auto dealership or enter targeted retail locations.
  2. Online Banking Demo
  3. Mobile Banking Interface
  4. Digital Insight Clients

Priti Thakur

Priti has keen interest in digital money and fintech startups . She completed her B-School education this year and likes to write about innovation with respect to digital payments.

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