HOUSTON–Janusea, a fintech that provides solutions connecting credit unions and fintechs with each other, said it has received a $2.4-million investment from Illinois-based Great Lakes Credit Union.
The investment will help fund the organization’s infrastructure as it continues to “grow and meet the increasing demand of its universal connector technology,” the company said.
In addition to the investment, Great Lakes will be also partnering with Janusea to implement its platform as needs arise, which will allow future fintech partners to seamlessly connect to its core for quicker, smoother products and services delivery to members, Janusea stated.
Janusea CEO Kyle Stutzman said in a statement the investment will ensure the company has all the right resources in place to grow and deliver its “universal core translator” technology that will, ultimately, empower credit unions not only to work with fintechs but with other credit unions, as well.
“We’re obviously very grateful and excited about what Great Lakes’ investment and partnership means to us and our future,” Stutzman adds. “We’re also excited from the credit union perspective how our technology will help empower their internal developers, allowing them to help other credit unions with our platform – which breaks down barriers and fosters another level of credit union collaboration.”
‘Match Made in Heaven’
Added Great Lakes CFO Tim Lukomski, “We see it as a match made in heaven. It’s a unique technology offering that fills a void for us, speeding up integration time to bring our products to market much faster—which results in a huge advantage against the big banks that we are competing with out there.”
According to the company, another application Lukomski shared involves small credit unions that have challenges attracting top talent.
“They could use this technology for specialized projects, such as an accounting service that a bigger credit union could offer smaller credit unions. Janusea’s technology could be used to connect the data between credit unions in this area – as well as many others,” Janusea said.
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