Author: Amanda Reed

Seventh annual RegTech100 shines a light on movers and shakers in the regulatory technology

December 6, 2023 – ViClarity’s international team is celebrating the just-released news that the company has been recognized once again as one of the world’s leading RegTech solutions. The RegTech 100 list is curated by specialist research firm RegTech Analyst, which monitors the marketplace for innovative providers addressing the challenges of regulatory pressures within financial services.

The RegTech100 offers a wide view of the key players making waves in the industry. The 2024 list showcases the most innovative and disruptive businesses seeking to help financial institutions manage the fast-paced changes brought on by ongoing regulatory updates and technological advances.

The selection process for this year’s list was said to be the most competitive yet. A panel of analysts and industry experts assessed nearly 1,400 businesses produced by RegTech Analyst.

RegTech Analyst Director of Research Mariyan Dimitrov said, “With a tougher economic climate and the continued rise of AI, financial institutions are re-examining compliance software’s true cost, namely whether a given RegTech solution truly will free up compliance staff for higher-level tasks and whether the software can scale, adapt, and get implemented efficiently. This year’s RegTech100 list highlights the leading companies…who have demonstrated a strong track record delivering regulatory and operational improvements in financial services.”

ViClarity CIO Credits Team, CEO Focuses on Continued Growth

ViClarity founder and Global CIO John “Ogie” Sheehy said, “It is an honor to be recognized and selected as one of the RegTech100 companies for 2024. It is a true testament to the ViClarity team members who work closely together to implement the software, provide IT support, listen to customer feedback and continuously update functionality in conjunction with our partners. All these efforts are to ensure that our system stays up-to-date and relevant for all our clients. A huge thanks to the team and all our partnerships that helped us become one of the top 100 RegTech companies.”

Miriam De Dios Woodward, ViClarity’s Global CEO, is excited about the achievement while keeping her attention focused on the year ahead. “We’re extremely proud to have delivered excellent solutions and support to our partners this year,” she said. “I’m eager to introduce the platform to even more new users in 2024, while we also help our existing clients expand into additional solutions as the complexity of governance, risk and compliance continues to evolve.”

About ViClarity

ViClarity is an award-winning provider of governance, risk and compliance (GRC) management solutions. A global organization, ViClarity has headquarters in Des Moines, Iowa, and Kerry, Ireland, and provides services for nearly 1,000 clients in a variety of highly regulated industries. The firm’s flagship technology is a centralized platform that supplies GRC professionals with real-time access to business intelligence for faster, data-based decision-making.

Key platform solutions include compliance management, integrated risk management, audit management and vendor management. Many ViClarity clients start with one solution and add on others over time. It’s a unique approach well-suited to the needs of today’s GRC professionals, many of whom are unsure of what to expect when onboarding software and appreciate being able to start small, test and learn and scale as their needs expand.

To learn more about the ViClarity platform, request a demo or visit www.viclarity.com.

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Media Contact
Kelly Moore (for ViClarity)
515-720-9670
kelly@kmprcollective.com

Chuck Fagan (PSCU) and Dean Michaels (Co-op Solutions) sit down with Ronaldo Hardy (NACUSO) to discuss why now was the right time for a merger. They discussed what they hope to accomplish in the coming years as a result of this merger, what members can expect moving forward and how they are keeping credit union needs at the heart of it all.

Watch or Listen Now!

December 6, 2023 – PSCU, the nation’s premier payments credit  union service organization (CUSO) and an integrated financial technology solutions  provider, is pleased to announce that NorState Federal Credit Union (NorState FCU) has  selected the CUSO to provide debit and credit card processing services and support. 

Established in 1941, NorState FCU has been committed to helping its local communities  and members succeed financially as their “lifelong financial partner” for more than eight  decades. Headquartered in Madawaska, Maine, and driven by the “people helping  people” credit union philosophy, NorState FCU currently has over 14,500 members and  assets totaling more than $252 million. 

In looking for an ideal credit and debit processing partner, the credit union was seeking  an organization that was proactive with solutions, offered innovative products and would  be a true strategic partner. NorState FCU put an emphasis on selecting a provider that  could act as an extension of its team when delivering products and services, while also 

understanding the importance of a credit union’s reputation when interacting with  NorState FCU members on a daily basis. Based on peer feedback and an in-depth review, the credit union found its fit in PSCU. 

“NorState FCU is confident in PSCU’s ability to help move our credit union forward in this  ever-evolving marketplace,” said NorState FCU President and CEO Jeffrey Davenport.  “We are eagerly anticipating our new partnership with the CUSO, and the creativity and  innovation their entire team can bring to our organization and members.” 

PSCU will begin providing card support to NorState FCU members in the fall of 2024. 

“It is with great pleasure that we welcome NorState FCU to our cooperative,” said PSCU  Chief Revenue Officer and EVP Scott Wagner. “At PSCU, we are always looking for  opportunities to provide credit unions with leading-edge solutions and highly functional  programs to facilitate seamless experiences and best-in-class service for their valued  members, and we look forward to helping NorState FCU realize these results.” 

About PSCU 

PSCU, the nation’s premier payments CUSO and an integrated financial technology  solutions provider, supports the success of more than 2,400 financial institutions and  processes nearly 7.7 billion transactions annually. Committed to service excellence and  focused on continuous innovation, PSCU’s payment processing, fraud and risk  management, data and analytics, digital banking, strategic consulting and real-time  payments platforms, along with 24/7/365-member support via its contact centers, help  deliver personalized, connected experiences. The origin of PSCU’s model is collaboration  and scale, and the company has leveraged its influence on behalf of credit unions and  their members for more than 45 years. Today, PSCU provides an end-to-end, competitive 

advantage that enables credit unions to securely grow and meet evolving consumer  demands. For more information, visit pscu.com. 

Media Contact: 
Peyton Burgess 
French/West/Vaughan 
919-277-1168 
PBurgess@fwv-us.com

Plinqit Bundles Automated Savings and Financial Education for Credit Union Members

November 28, 2023 – Co-op Solutions is partnering with fintech company Plinqit to help credit unions earn deposits while members increase their savings.

“With their mission of improving people’s financial futures through technology, Plinqit’s purpose is deeply aligned with that of the credit union movement,” said Dean Michaels, President/CEO of Co-op. “Credit unions were early adopters of and investors in Plinqit, which partners with credit unions to help them accelerate a wide variety of initiatives – from advancing financial literacy while saving for major purchases to improving the member experience.”

Plinqit is one of several credit union fintech providers that have recently joined the Co-op Strategic Provider Program, designed to provide best-of-class products and services to the movement. The program streamlines a credit union’s procurement process by offering them access to pre-vetted vendors outside of Co-op’s core solution set, all at preferred commercial terms that have been pre-negotiated by Co-op. The program is a benefit offered at no charge to Co-op clients.

Platform Enables Member Savings Goal-Setting 

Plinqit enables the member to securely link their Plinqit account to their credit union account, set a savings goal in Plinqit, and automatically set aside a small amount of money at a rate and schedule that they choose.

“Users tell us Plinqit is the easiest way to save as the money is kept out of sight and out of mind; 80 percent of users successfully reach their savings goals,” said Kathleen Craig, Founder and CEO of Plinqit. “And, because users earn money towards their goals via Plinqit’s gamified educational content, they are highly engaged users, which deepens their relationship with their credit union along the way.”

The partnership comes at a time when the average personal saving rate in the U.S. is 3.5 percent (July 2023), well below the decades-long average of 8.9 percent. Credit unions, too, are in need of cash, with a loan-to-share ratio of 81 percent (Q1 2023). While 11 points higher than one year prior, the ratio is still lower than pre-pandemic levels.

Co-op credit unions that chose to integrate Plinqit can expect a smooth implementation via their extensive list of digital banking integrations. Plinqit integrates today with Q2, Banno, CU Answers, Lumin and BankJoy, and they are adding integrations each quarter. Credit unions will also have the ability to cross-promote their own products and services on the Plinqit platform. Additionally, the Plinqit team can assist with applying for financial literacy grants as well as providing marketing support for branded campaigns, email programs and digital marketing strategies.

In addition to automating their top-of-mind savings goals, credit union members who engage with the Plinqit app experience the fun of gamified learning, all while tracking their progress via intuitive dashboards and visualizations.

Strategic Provider Program Participation – For Fintechs and Credit Unions

Fintech providers can learn more about joining the Co-op Strategic Provider Program at Co-op’s website. Co-op clients interested in connecting with providers can check out the “Meet our Partners” section of the program’s webpage. Clients can explore each provider’s profile to learn more about their solutions and submit an inquiry to hear about preferred commercial terms to which they may be entitled. The Plinqit profile page can be found here.

About Plinqit

Plinqit is a mobile-first platform and fintech company helping banks and credit unions generate deposits, attract new customers and expand their retail footprint while helping people live their best financial life. The Plinqit platform is the first savings platform of its kind to bring together automated savings, data-driven financial wellness content and virtual account management. Plinqit is helping everyone Money Intelligently™. For more information, visit info.plinqit.com.

About Co-op Solutions

Co-op Solutions is a credit union-owned financial technology platform built using an industry-leading ecosystem, whose mission is to connect credit unions to the technology, strategic partnership and scale they need to best serve their members and grow now and into the future. Co-op Solutions partners with credit unions to unlock their potential so they can compete; does the hard work of innovation, creating a one-stop opportunity to help credit unions grow; and offers knowledge and expertise in a world where everything must be integrated. Founded in 1981, Co-op Solutions services 2,650 credit union clients, processes eight billion transactions annually, and manages a nationwide network of more than 30,000 ATMs and a 5,700-location shared branch network. For more information, visit www.coop.org.

Contact:
Bill Prichard, APR, Director, Public Relations
Co-op Solutions
(909) 532-9416 or Bill.Prichard@coop.org

November 28, 2023 – PEFCU is the first signing for Dark Matter and underscores its commitment to working with credit unions of all sizes to streamline operations and maximize productivity

 Dark Matter Technologies (Dark Matter), an innovative new leader in mortgage technology backed by time-tested loan origination software and leadership, today announced a contract with Lakeland, Florida-based Publix Employees Federal Credit Union (PEFCU). The signing is the first under Dark Matter’s new corporate structure and reflects the growing footprint of the company’s popular Empower^® Loan Origination Platform in the credit union sector.

Empower combines intelligent process automation with all-in-one functionality to expeditiously process loans with minimal lender intervention. Using a method referred to as “exception-based processing,” Empower works behind the scenes to make originating mortgage loans easier, faster and more efficient for lenders and the borrowers they serve.

“Dark Matter aims to become the invisible backbone behind its clients’ mission-critical operations by providing credit unions with scalable, next-generation mortgage automation that enhances their members’ experience,” said Bob Brandt, managing director of sales at Dark Matter.

Headquartered in Lakeland, Florida, Publix Employees Federal Credit Union (PEFCU) is a member-owned co-operative that was founded in 1957 to meet the needs of Publix Super Markets associates and their family members.

“We’re here to offer our members exceptional, convenient and innovative financial options throughout all phases of their life,” said Jeremiah Kossen, PEFCU’s President and CEO. “Our contract with Dark Matter will help us remain committed to giving them an efficient and seamless home buying experience.”

Dark Matter is a member of the American Credit Union Mortgage Association (ACUMA), an organization dedicated to helping credit unions optimize their real estate financing services. Brandt and the entire Dark Matter team have been working closely with credit unions across the country to demonstrate how Empower and other Dark Matter technologies can improve workflows and bolster the bottom line.

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About Dark Matter Technologies

Operating with the nimble nature of a startup and the disciplined maturity of one of the industry’s leading providers, Dark Matter Technologies delivers cutting-edge technology, unparalleled automation and relentless innovation to leading mortgage lenders and companies nationwide. For more information, visit https://www.dmatter.com.

About Publix Employees Federal Credit Union

PEFCU has over $1 billion in assets and maintains a five-star rating by Bauer Financial with an “A+” in financial health. PEFCU operates six full-service branch offices located in Florida: Lakeland, Pembroke Pines, Royal Palm Beach, Altamonte Springs, Sarasota, and Jacksonville, and one full-service branch located in Lawrenceville, Georgia. For more information, visit https://www.pefcu.com.

Contacts

Leslie Colley
Depth for Dark Matter Technologies
(678) 622-6229
leslie@depthpr.com