Reseda Group, a subsidiary of MSU Federal Credit Union (MSUFCU), has recently announced a significant investment, injecting over $6.2m into the FinTech industry.
This investment is distributed across eight innovative FinTech companies, including CU LIFT Fund, CURevl, Debbie, Origence, Members Mobile, and Ranqx, with additional follow-on investments in Ascent and Changed. This move not only expands Reseda Group’s partnership ecosystem but also underscores its commitment to advancing technological solutions within the financial services sector.
Among the beneficiaries of Reseda Group’s investment is Ascent, which has developed a permissioned data core. This platform is a first in enabling financial entities and their customers to securely share financial information on a permissioned basis, positioning banks and credit unions as trusted partners for consumers and small businesses. Similarly, Changed offers an actionable debt repayment platform, aligning with members’ budgets and habits to promote financial health.
Further, the CU LIFT Fund is creating a collaborative ecosystem that benefits credit unions and auto dealers, enhancing the auto buying experience for members. CURevl focuses on aiding credit unions in providing college planning and education finance solutions. Debbie’s platform celebrates and rewards positive financial actions, transitioning borrowers to wealth builders.
Origence delivers lending technology for the ultimate origination experience, increasing loan volumes and creating efficiencies for credit unions. Members Mobile, as the first and only 4G/5G service provider for credit union members, offers a unique engagement platform that boosts financial wellness and personalization. Lastly, Ranqx supports community prosperity in small and medium-sized business (SMB) funding with its fully digital loan origination and decisioning platform, promoting efficient growth in SMB loan books and valuable new deposits.
Ben Maxim, Reseda Group’s COO and Chief Innovation Officer at MSUFCU, remarked, “We’re helping credit unions thrive through innovation, and each company we add to our partner ecosystem brings a new component to customer journeys. We invest in solutions that help community financial institutions build digital relationships and create two-way dialogues with their consumers. We want to give people new ways to engage and interact with their finances and empower credit unions and community banks to be in a better position to serve their consumers.”
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