AKUVO boosts market share with seven more credit union partnerships

AKUVO boosts market share with seven more credit union partnerships

AKUVO, an innovative technology firm focused on collections and credit risk management, has proudly revealed the latest partnerships on its rapidly growing portfolio.

The firm has successfully signed seven new credit unions, expanding the reach of its advanced Aperture platform. Combined, these credit unions hold memberships exceeding 747,000 and total assets of a staggering $20bn.

The latest partnerships, which will no doubt solidify AKUVO’s already significant presence in the Floridian market, come in the form of agreements with the $10.3bn Star One Credit Union, Sunnyvale, Calif.; the $932m First Source Federal Credit Union, New Hartford, N.Y.; the $2.5bn Andrews Federal Credit Union, Suitland, Md.; the $1.4bn Publix Employees Federal Credit Union, Lakeland, Fla.; the $2.7bn AmeriCU Credit Union, Rome, N.Y.; the $1.1bn Gulf Winds Credit Union, Pensacola, Fla.; and the $1.4bn Launch Credit Union, Merritt Island, Fla.

The reason for these new alliances is underpinned by Aperture’s robust technology, which boasts effortless integration with third parties via pre-built connectors. The solution’s appeal lies in its ability to create a seamless ecosystem involving core processors, CPI providers, credit bureaus, credit card and mortgage processors, letters and printers, outsourced collections, payment providers, text messaging services, legal resources, and much more.

AKUVO, the mastermind behind Aperture, is a pioneering cloud-based collection platform powered by data and analytics. The company adopts a visionary, behaviour-based approach to credit risk and delinquency management, offering its products and consulting services to a wide range of institutions. AKUVO’s success hinges on its team, each member bringing over 20 years of industry experience to the table.

Credit unions have shown anticipation for capitalising on Aperture’s modern architecture, which is designed to exploit Microsoft’s Azure Machine Learning (ML) and Natural Language Processing (NLP). The platform also delivers superior loss support speciality functions such as bankruptcy, charge offs, debt settlement, foreclosures, and repossessions. The expertise of AKUVO’s team, coupled with its comprehensive customer loyalty offerings, were cited as pivotal reasons for selecting Aperture over other market solutions.

“We’re thrilled with Aperture’s continuous growth in 2023,” AKUVO’s chief revenue officer Steve Castagna said. “Financial institutions are facing a myriad of challenges this year, and we’re pleased our technology can help minimise loan losses and facilitate a positive experience for account holders and staff.”

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