New CUSOs Launch to Help With Fintech & Digital Transformation

Two new CUSOs, one Ohio-based and the other in Florida, launched to help credit unions with the evolving financial technology, including digital transformation and collaboration with innovative fintech companies.

Columbus, Ohio-based Corporate One Federal Credit Union announced the kickoff of Sherpa Technologies, a CUSO strategically aimed at leading credit unions on the digital transformation journey, creating an efficient method of engaging innovative fintech firms, and enabling integrated, seamless member experiences.

Sherpa’s main core offering is its Mosaic Platform, an open, digital business platform that creates a unique framework and ecosystem for credit unions and partners to engage and integrate the latest solutions through an open framework. The CUSO maintained Mosaic allows credit unions to easily deploy and modify solutions as membership needs change. It can also leverage data to support personalized member experiences and orchestrate information between separate applications.

“Sherpa was created to answer the complex questions digital transformation creates for many credit unions,” Melissa Ashley, president and CEO, Corporate One, said. “Creating delightful member experiences requires leveraging all that financial technology offers in an integrated fashion to deliver seamless, personal and frictionless interactions. This is easier said than done when working with bulky legacy systems and an ever-evolving marketplace of solutions. And, therefore it’s difficult and overwhelming for many credit unions to develop, integrate and manage the kind of digital applications that offer better member experiences.”

Keith Riddle, Sherpa’s president/CEO, emphasized, “Our main goal is to help credit unions of all sizes across the country develop, implement, and expand a digital transformation plan that meets their strategic vision and organizational objectives.” He added, “Our staff has extensive experience and knowledge to complement any credit union’s team, and our consultative approach includes listening, identifying, connecting and enabling credit unions with the appropriate insight so they can choose a suite of integrated experiences to serve their members in a dynamic digital financial marketplace.”

Along with the Mosaic Platform, Sherpa Technologies also identifies and fully vets fintech offerings providing credit unions the opportunity to grow members, increase revenue and/or streamline efficiencies. Sherpa’s applications are developed and delivered through consultation with credit unions, partners, or in co-development with fintech firms, and offer the option to integrate seamlessly with the Mosaic Platform. The applications are available separately and/or in combination with each other, and through a suite of integration tools, can leverage data optimization for delivering frictionless, personalized member experiences.

Tallahassee, Fla.-based Finovative Technologies, described as a fintech CUSO, also recently launched to assist credit unions with strategic financial technology solutions, and to create a successful transition through a tailored, 360-degree experience model.

The new CUSO noted with the shift in technology and increased financial competition, many credit unions find it difficult to navigate this rapidly evolving landscape. Finovative Technologies said it understands the need to remain competitive and find the best technology partnership for each credit union and its members.

Finovative Technologies’ main areas of expertise include core data processing, digital banking, systems integration, managed network services, lending, operations, compliance, strategic planning and project management. The organization’s goal is to connect credit unions with technology partners that understand the industry’s needs and can deliver seamless and secure financial services between institutions and consumers.