ENACOMM and PSCU partner to bring prepaid mobile apps and websites to credit unions
By Edlyn Cardoza
ENACOMM, a FinTech enablement company equipping financial services companies with affordable solutions that empower them to compete with technology offerings of the largest financial institutions, recently announced it is helping to streamline mobile application and website development for credit unions through a partnership with PSCU, the nation’s premier credit union service organization (CUSO). The agreement enables credit unions across the U.S. to roll out new mobile apps and websites through PSCU’s prepaid product line with next-generation functionality, including biometric authentication.
“With our digital-first product strategy, PSCU is committed to helping credit unions deliver enhanced digital experiences to their members – and smartly-designed digital interaction channels are essential for success in today’s increasingly digital world,” said Cody Banks vice president of Payment & Fraud Solutions at PSCU. “Our partnership with ENACOMM makes a process that typically demands considerable time and investment significantly more efficient, better enabling our credit unions to help their members seamlessly conduct essential prepaid banking needs through their preferred channel.”
The prepaid mobile application and website platforms were built once and deployed multiple times for PSCU credit unions through the agreement. The white-label solutions make each credit union brand the platforms appear as if they were custom-built for the financial institution.
The prepaid mobile application includes modern money-management functionality, such as smart budgets with personalized guidance and alerts that help users stay within their set limits, auto-categorization of expenses, set-aside goal tracking, and mobile check deposit. It is also highly secure, with two-factor authentication, touch and face identification, and real-time alerts and notifications, in addition to providing users with the ability to lock and unlock their cards easily.
Creating a seamless, omnichannel member experience for cardholders, the prepaid web platform matches the mobile application’s function and feel. Each branded website offers credit unions the opportunity to feature breakout information, card activation and linking, access to member support, mobile app download links and much more.
“Credit unions have unique advantages over big banks, such as local presence and deep member relationships, but one challenge has been lack of budget to build modern technology on par with the offerings of banks in the billion and trillion-dollar clubs,” said ENACOMM CEO Michael Boukadakis. “ENACOMM is happy to be able to empower these smaller financial institutions to viably compete with advanced, easy-to-use self-service technologies in a digitally-driven world.”
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