The Financial Brand Insights - Spring 2022

Caribou (Formerly MotoRefi) Core offerings: Online auto loan refinancing and car insurance. Why they stand out: Since 2016 Caribou has helped consumers save a collective $78 million on auto loans and originated $1 billion+ in loans for lending partners. They grew originations by nearly 300% in 2021. What they offer FIs: The ability to originate high quality auto loans and attract new members with minimal effort. Caribou’s platform integrates directly with partners’ existing lending systems, automating onboarding, and eliminating the need for manual entries. Lending partners receive Caribou’s “white-glove service,” which includes a dedicated lender success team, customized underwriting, and specialized teams that handle all borrower agreements and vehicle titling requirements on the lender’s behalf. Insights from the CLO: We help credit unions pinpoint customers they'd like to attract and deliver consumers more compelling offers through credit

Eltropy Core offerings: A one-platform solution that allows FIs to seamlessly deliver content via text, video, co-browsing, chat and chatbot channels, social, and conversational AI. Why they stand out: Grew its FI client base from nine in 2019 to 300+ today; anticipate adding three per week in 2022. Partner efficiency gains include a 20% drop in call volume and streamlined lending. What they offer FIs: The ability to manage the following with one, compliant, easy-to-use platform: E-signatures, marketing, two-factor authentication, reputation management, sales, customer support and loan originations. Insights from the founder: Most people feel overwhelmed with the digital ‘entropy’ (aka chaos) in their lives. We make it easier for them to get access to their money so they can utilize those financial resources to live better lives. We make everything as simple as sending a text. Ashish Garg Co-Founder & CEO

Posh Technologies Core offerings: A conversational AI chatbot platform that manages transactional commands, answers FAQs and provides extra support to an FI’s front-line staff. Why they stand out: Created to make AI available to mid-market financial institutions. Founded out of the Massachusetts Institute of Technology AI lab in 2018. What they offer FIs: Their AI is trained in the language of FIs, including financial concepts, acronyms, unique product names, etc. This means Posh’s digital assistants understand customer questions and can respond appropriately. Posh provides all-hours support for FIs and hires FI veterans to help shape the product and identity.

RenoFi Core offerings: Home renovation lending enablement platform. Why they stand out: RenoFi loans are underwritten through RenoFi’s Renovation Underwriter (RU) platform, leveraging the post-renovation appraisal value of the home. This enables the consumer to increase their borrowing power by up to 10x what they can with traditional home equity and cash- out refi products, while providing a renovation- specific, digital consumer experience. What they offer FIs: The ability to provide customers with purpose-built offerings to make their renovation dreams come true. Before RenoFi, 90% of home renovations over $50,000 (a $300 billion annual market) were financed in cash. RenoFi puts the power of home equity loans to work for more consumers—and their financial institutions. Insights from the founder: Home renovation financing has been one of the most overlooked areas in lending. That is changing in a big way, as RenoFi is seeing unprecedented demand from homeowners seeking smarter ways to finance their home

Insights from the founder: We’ve built this technology to streamline the member experience—Learning from thousands of conversations, we’ve built a technology that streamlines the member experience, but still enabling human interaction when needed so credit unions can deliver the best member journey.

unions' favorable rates. Jason Tepperman CLO

Karan Kashyap Co-Founder & CEO

renovations. Lee Miller Co-Founder & CEO

Clutch Core offerings: Auto loan recapture and refinancing solutions for credit unions. Access to hundreds of third-party data sources lets Clutch surface debt applicants and members have elsewhere. Why they stand out: A 3-click process to create a ready-to-fund loan application and a look-to- book ratio of up to 80% (vs. the 40% average). Plus, they’ve cut loan funding time from 7 days to 1.5. What they offer FIs: A loan application and recapture portal.

Insights from the founder: I became a member of a credit union when I moved to the U.S. in 2011. The mission and the member focus really stood out to me. I couldn't be more excited to help Credit Unions transition to becoming FinTech lenders and feel honored to be supporting the movement. Nicholas Hinrichsen Co-Founder & CEO

Splash Financial Core offerings: New and refinanced student loans, refinancing of medical and graduate school loans, and personal loans. Why they stand out: Before Splash, credit unions and community banks didn’t have access to an easy and frictionless student loan refinance platform. What they offer FIs: New customer acquisition and loan portfolio growth through automated technology.

Insights from the founder: Our mission is to make people more powerful than their debt. We enable financial institutions to provide an easy- to-use experience that helps people save money on their student loans. Steven Muszynski Co-Founder & CEO

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THE FINANCIAL BRAND INSIGHTS SPRING 2022

THE FINANCIAL BRAND INSIGHTS SPRING 2022

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