NAFCU Services Announces 2022 Innovation Award Winners

Awardees range from state-of-the-art fraud prevention to streamlined lending experiences

ARLINGTON, Va.--(BUSINESS WIRE)--NAFCU Services has named the winners of their 2022 Innovation Awards. The awards program recognizes companies making the most valuable and innovative contributions to credit union success, including groundbreaking advancements in technology, software, digital media, campaigns, and more.

“Our 2022 Innovation Awards winners encompass so many solutions that push credit unions forward,” noted NAFCU Services President, Randy Salser. “Thank you to all of the participating companies for constantly innovating and driving our industry forward. Congratulations to the winning entries for being recognized by the judges as exemplary solutions!”

Winners are selected by a distinguished panel of industry judges including Diana Kot, SchoolsFirst Federal Credit Union Vice President of Membership Development and Advocacy; Kathy Chicas, Farmers Insurance Federal Credit Union Chief Operating Officer; Mike Lawson, CUbroadcast Creator and Host; Jim Pack, Coastal Federal Credit Union Chief Member Service Officer and Senior Vice President; and Lauren Culp, CUInsight Publisher and CEO.

“I thought last year's batch was great, but this year's surpassed it. These innovations are offering credit unions tons of opportunities to succeed in many areas,” – Mike Lawson.

“It is good to see that vendors and partners out there pivoted during the pandemic and continue to create products and services that will propel credit unions into the future,” – Kathy Chicas.

The 2022 Innovation Award Winners are:

Amazon Web Services (AWS) | CUSO Partnerships
A partnership that fosters collaboration and simplifies the approach to leveraging cloud services and accelerating digital innovation. For example, AWS is working with CUSOs Thinkstack to provide cloud infrastructure and with Arkatechture to provide data lakes and dashboarding.

Blend | Underwriting Automation Platform
A cloud solution which streamlines the credit application process by incorporating on-time rental payments and income verification into the underwriting automation process to reduce decision time and friction.

CUNA Mutual Group | CuneXus
A storefront experience for credit union members offering single-click access to a variety of personalized offers for many credit products and non-interest income opportunities.

SentiLink | ID Theft Score
An anti-fraud gateway intended to stop or slow fraudulent accounts from being opened, with data-driven protection against specific types of fraud, including family relationships and J1 work visa holders.

Upstart | AI Lending Platform
An algorithmic approach to raising automated approval rates while lowering lender loss, driven by 20 million repayment data points and over 1,000 variables in approval models. This includes both a referral network and direct-to-member product marketing options to improve awareness of credit opportunities.

Velocity Solutions | Account Revenue Solution^TM
A package of small-dollar loans (CashPlease) and overdraft solutions (Intelligent Limit System) designed to match member needs for short-term liquidity with convenient options suited to their ability to repay.

About NAFCU Services

As part of the National Association of Federally-Insured Credit Unions, NAFCU Services provides funding, educational content, and a portfolio of trusted and vetted Preferred Partners who serve credit unions across the country. Our team of partners deliver groundbreaking ideas and next-gen solutions that enable credit unions to compete, change the status quo, and grow their institutions.

For more information, visit our website and follow us on Twitter and LinkedIn.