REACH Attendees Engage with ‘Fintech Showcase’ Presenters

The Fintech Showcase at the California and Nevada Credit Union Leagues’ annual REACH 2023 conference on Tuesday featured seven-minute, fast-paced, highly informative presentations about the latest innovative solutions to move credit unions forward — each followed by a networking opportunity.

(View and download event photos from the REACH 2023 Photo Galleries)

As financial services continue to evolve and change at a rapid pace, so does the technology that supports the industry and delivers leading-edge solutions to help credit unions better serve their members. This exclusive pre-REACH educational session spotlighted innovative products and services to help credit unions improve member experience, create operational efficiencies, and ultimately achieve performance growth.

Fintech is transforming the credit union industry to enhance member experiences, improve operational efficiencies, and mitigate risk. Several innovative products and services are helping credit unions ultimately achieve greater performance and growth, including:

• Posh — Ryan Warfield, principal sales engineer (“Unleash the Potential of AI: Elevating Member Experiences & Frontline Efficiency”): This explored the transformative capabilities of artificial intelligence built specifically for credit unions’ digital and voice channels. Attendees learned how this cutting-edge technology can revolutionize credit union member support and frontline operations.
• Union Credit — Barry Kirby, co-founder and CRO (“Digital Loan Marketplace Powers a New Generation of Credit Union Members”): This embraced the idea of an embedded fintech strategy, where credit unions can extend their supreme customer service and earned community trust to consumers outside of traditional markets. Attendees learned they can embrace the future of open finance by giving consumers easy access to information and opportunities, provide consumers with full transparency into buying power while shopping at point-of-purchase, and help merchants provide local, competitive offers that serve their customers.
• FTSI — Brett Wooden, senior vice president of innovation (“Serving the Underserved with a Multicultural Mobile App”): This introduced “Rise,” a transformative mobile application connecting diverse communities with essential financial products, services, and education from local credit unions and community partners. Attendees learned how to understand how fintech is enhancing financial literacy in diverse and underserved communities, how Rise’s algorithm tailors unbiased matches to financial coaches and solutions, and how collaborations with fintech and community partners can bridge financial disparities.
• Ranqx — Dave Lewis, founder and CEO (“How to Win with Digital SMB Lending”): This focused on how small business (SMB) members want more and want it immediately, with digitally and efficiently product-delivery aspects focused on “people helping people” — and how credit unions can become the small business lender of choice. Attendees learned how credit unions are currently failing small businesses, how they can be innovative fintech partners, how to remove small business friction for lending and drive efficiency in underwriting costs, and how to evolve beyond commercial real estate lending into efficient small business working capital lending.
• EmpowerFI — Hilary Reed, CEO (“Actionable AI and Predictive Analytics”): This focused on revolutionizing credit union marketing through the power of artificial intelligence and predictive analytics. Attendees learned how AI learns and adapts, ensuring that marketing campaigns are always optimized for success — with “gone are the days of generic, one-size-fits-all marketing strategies” insights. They also learned (with an AI-driven approach) how credit unions can accurately predict consumer behavior and preferences, analyzing vast amounts of data to uncover valuable insights and trends.
• Alloya Corporate FCU — Parker Hausknecht, capital markets coordinator (“Alloya’s Loan Participation Platform”): This focused on an innovative solution for credit unions to utilize as a balance sheet tool, reducing complexity in loan participation transactions — including a platform that assists with pool creation, marketing, monthly reporting and funding, and in-depth analytics on how a portfolio is performing. Attendees learned how to use a loan participation platform as a balance sheet tool, understand how the platform simplifies and reduces the complexity of loan participation transactions, and experienced firsthand the power of collaboration.
• Lemonade LXP — John Findlay, COO (“Strategies for Growing Your Digital Banking Business”): This focused on future-proofing credit unions by investing in digital banking technology. Attendees learned how to engage staff in their digital journey, create frontline digital ambassadors, support digital members, and reduce contact center attrition with better training and support.

Stay Engaged During REACH
Attendees and League staff will be sharing photos, comments, and memories through X (@CANVleagues) and LinkedIn (#CUatREACH).

REACH is one of the credit union industry’s premier annual events, attracting leaders and system partners from across California, Nevada and the United States. This year it’s held from October 22 – 26 at the Cosmopolitan of Las Vegas in Las Vegas, NV!