FOR IMMEDIATE RELEASE January 31, 2022
CONTACT AKUVO Marketing – (484) 816-5550
AKUVO Begins 2022 with Additional Funding and Three New Signings
Malvern, Pa — AKUVO, a technology-based organization specializing in portfolio risk and delinquency management for financial institutions, today announced the addition of three new clients including MSU Federal Credit Union, $6.6 billion in assets, and Credit Union of Colorado, $2.2 billion in assets. The momentum from these signings, as well as an investment made by Reseda Group, a wholly-owned CUSO of MSU Federal Credit Union, represents a strong start to 2022.
All three clients have signed on to use AKUVO’s flagship delinquency management and portfolio analytic platform, Aperture. The cloud-based solution streamlines day-to-day collection activities and reduces delinquency using data and behavioral science tools like AI (Artificial Intelligence), Machine Learning and Natural Language Processing.
MSU Federal Credit Union, based in East Lansing, Michigan serving over 320,000 members, cited the future vision and use of analytics as one of the primary reasons behind their signing as well as the investment made by Reseda Group.
“We were really impressed by Aperture and its ability to increase the efficiency and effectiveness of our collections department. Particularly, the use of data and behavior-based analytics will change the way we interact with our members and potentially find new, untapped revenue opportunities,” comments Jim Hunsanger, Chief Risk Officer for MSU Federal Credit Union and its CUSO, Reseda Group. “We truly enjoyed getting to know the team at AKUVO and are excited to not only become a customer but an active investor in the future of the company.”
Credit Union of Colorado, based in Denver with 148,000 members, identified Aperture as best-of-breed for similar reasons.
Chad Wilcox, Senior Vice President of Lending at Credit Union of Colorado states, “Utilizing solutions that will allow us to help our members is fundamental to our long-term strategy. AKUVO’s comprehensive delinquency management platform and commitment to enhancing the solution with key data and analytics tools will allow us to support our members now and in the future.”
“We are honored to have been selected by these three highly-innovative credit unions. At AKUVO, we view every new customer as a member of our family. We are focused and committed to listening and supporting their future growth, powered by our products, in the spirit of true partnership,” said Jay Mossman, Founder and CEO of AKUVO.
AKUVO creates, delivers, and supports data-driven technology and services that are rooted in the latest data science applications, including machine learning, artificial intelligence, and natural language processing, to ensure credit unions have the right tools and technology to compete and win in the financial services market. To learn more, visit www.akuvo.com.
About Credit Union of Colorado
Founded in 1934, Credit Union of Colorado is one of the largest credit unions in the state and is deeply connected to the communities where its members live and work. The credit union’s “here to help” culture is demonstrated by its strong support of local communities through financial donations, promotional sponsorships and employee volunteerism. Credit Union of Colorado offers the latest in banking with 18 full-service locations throughout the state featuring lobby service centers, safe deposit boxes, drive-up tellers and surcharge-free, drive-up ATMs. The credit union also provides its members with the convenience of digital banking with remote check deposit and access to Zelle®, a fast, safe and easy way to send money right from your mobile banking app or online banking account.
With more than 85 years of experience, Credit Union of Colorado is a stable, member-owned financial institution with more than $2 billion in assets serving more than 145,000 members. The Credit Union of Colorado Foundation supports education and emergency human services programs through college scholarships and grants to nonprofit organizations.
About MSU Federal Credit Union
Founded in 1937, MSUFCU has a national reputation for excellence and has received several top industry and workplace awards, including being named a Best Credit Union to Work For® by American Banker for the fifth year, a Top Workplace by the Detroit Free Press for 11 consecutive years, a National Best and Brightest Companies to Work For® winner for six consecutive years, and was named one of the top five Michigan credit unions on Forbes’ Best-in-State Credit Unions 2021 list. MSUFCU was named a Best Workplace in Financial Services and Insurance by Fortune Magazine for two consecutive years and has been certified as a Great Place to Work® for nine consecutive years. MSUFCU has been recognized by the Credit Union National Association, earning first place for the people-helping-people philosophy 2020 Louise Herring Award. MSUFCU is headquartered in East Lansing, Mich., has 22 branches, over 320,000 members, more than $6.6 billion in assets, and nearly 1,000 employees. For more information, visit msufcu.org.
About Reseda Group
Reseda Group helps credit unions remain relevant and competitive by delivering the best products and services to their employees and member-owners. Driven by our shared goal of building better for members, Reseda Group invests in strategic partners that will bring new technology, digital resources, and credit union industry solutions to market. Reseda Group is a wholly-owned Credit Union Service Organization (CUSO) of MSU Federal Credit Union.