DENVER– CULedger, the CUSO that has built and is now testing a trusted, peer-to-peer services network of verifiable digital exchange for credit unions, said three more credit unions are now piloting its MemberPass program.
The latest to sign on include Achieva CU in Dunedin, Fla., HawaiiUSA FCU in Honolulu, and Eagle Express FCU in Jackson, Miss.
The CUSO said MemberPass, formerly known as MyCUID, allows credit unions to offer the simplest, most secure way to connect with their members.
“Being the first Know-Your-Customer-backed digital credential, members are in control of their identity, giving them a standardized way to verify themselves to their credit unions,” CULedger said.
“Offering MemberPass will allow for our members to experience an entirely new sense of security with their information,” said John Wintermeier, chief business officer at Achieva Credit Union. “Their ability to be in control of the verification process and truly own their information is really accelerating the industry in terms of security standards, and we are excited to be starting our implementation later this year.”
11 CUs Now Involved
CULedger said the MemberPass program currently has 11 credit union organizations committed and in various stages of deployment. As CUToday.info previously reported, UNIFY, TruWest and Desert Financial Credit Union have successfully completed their MemberPass pilots, “which provided valuable feedback from the members themselves. This feedback has been used to make adjustments to MemberPass so subsequent users can have an even more seamless experience.”
Achieva, HawaiiUSA and Eagle Express are utilizing MemberPass for its digital credential when members call into their contact centers, CULedger said.
The company said MemberPass has the ability to replace the CUs’ traditional Knowledge Based Authentication (KBA), resulting in a significant decrease in overall call time as well as potential fraud reduction.
Addressing ‘Core Privacy Issues’
“MemberPass was created to truly address core privacy issues that were taking credit unions by storm. By producing this global digital credential to showcase one’s identification outside of the normal KBA approach, credit unions and their members will benefit from a safer experience with the knowledge that their information is secure and, in their hands,” said John Ainsworth, president and CEO of CULedger. “Our previous pilots have showcased the need in the industry and how members can benefit from heightened security. Allowing members to have control of their information provides a sense of security that has slowly disappeared from financial services and is becoming increasingly important in this new digital age.”
For info: www.memberpass.com