ANAHEIM, Calif.–NACUSO has named the winner of its Next Big Idea competition here. The winner, selected by a vote of the audience following presentations by five different companies, was the Knockknock solution from CU RateReset.
According to the company, the Knocknock platform is a digital member engagement platform that allows members to reset existing auto loans and certificates. But in addition, it also allows the credit union to contact the member about making a change. The solution allows members to see how they would benefit financially from transferring a credit card balance or refinancing a loan, and then allows the member to act on that information.
One twist announced by CU RateReset’s Keith Kelly during the NACUSO meeting is that the company plans to also take the solution directly to consumers, and then allow those consumers who participate to be funneled back to participating credit unions.
Finishing second in the voting was LenderClose, a platform that seeks to consolidate and expedite the processing of mortgage loans. Approximately 100 financials are using that platform.
Other companies participating in the competition were Saylent (data analytics), Tethr (speech analytics platform), and CULedger (blockchain).
Members of a Shark Tank-like panel who asked questions of the companies were Kris Kovacs, Bill Beardsley, Sarah Canepa-Bang, and Kirk Drake.
Separately, NACUSO also named the winners of its honors. Winners included:
- New CUSO of the Year: OnApproach.
- New CUSO of the Year Runner Up: CU Certified Automotive.
- CUSO of the Year: The Servion Group,
- CUSO of the Year Runner Up: CUProdigy.
- Credit Union of the Year: Maps Credit Union