CHICAGO– Saying it is seeking to bring the “fintech experience” to credit unions, TransUnion has announced a partnership with Rate Reset. According to the organizations, their new solutions combines Rate Reset’s technology platform with TransUnion’s credit data and risk capabilities to “deliver a cutting-edge experience for consumers.”
In addition to offering loan modification and batch preapproval capabilities, credit union members can now check what rates and terms they qualify for without affecting their credit score, the companies said.
“The way consumers engage with their financial institutions has changed and an engaging digital experience is no longer simply nice to have – it’s table stakes,” said Sean Flynn, director of credit unions at TransUnion, in a statement. “Rate Reset levels the digital playing field by delivering a consumer-friendly experience and equipping credit unions with a technology platform that is in line with those offered by fintechs and banks.”
Sound CU Implements Solution
Sound Credit Union, Tacoma, Wash., is among the first to implement the new solution.
“We have enhanced our solutions through our collaboration with TransUnion to best align with the interests of credit unions and their members,” said Keith Kelly, CEO of Rate Reset. “Offering credit unions access to a digital instant pre-qual solution we call The Button will build new and existing relationships with consumers in this competitive environment.”