Mbanq CUSO launches Credit Union-as-a-Service

By Edlyn Cardoza

Mbanq CUSO innovates CUaaS, a new end-to-end business model, to launch and operate the Credit Union of the future as a comprehensive service. CUaaS differentiates itself by providing a deep, coordinated package of technology, operations, legal compliance, and financial services solutions, wrapped into a single Credit Union ecosystem.

Vlad Lounegov, Mbanq’s CEO, says, “Credit Union-as-a-Service takes care of every operational requirement a modern Credit Union needs. It connects and integrates the entire technology stack with regulatory and service packages in a comprehensive and flexible manner.”

Mbanq CUSO prioritizes rapid digital transformation so Credit Unions can deliver competitive financial services to niche markets through online and mobile channels. CUaaS makes it cost-effective and seamless to launch and operate a Credit Union and embrace the modern digital world.

CUaaS synergizes everything a Credit Union requires, including:

Technology: Mbanq CUSO’s own best-of-breed, cloud-native, modern technology stack with a low-code back-end already serves as the technology base for dozens of banks and Credit Unions around the globe. It allows Credit Unions to deploy or upgrade quickly and at low cost, and to deliver financial products to their members through personalized mobile apps and web channels.

Mbanq CUSO’s Credit Union technology is built on a modern and agile architecture which can deploy quickly and scale a Credit Union to any size.

Regulatory Compliance: CUaaS includes specialist Credit Union regulator relations expertise to acquire a federal charter from the National Credit Union Administration (NCUA). Additionally, CUaaS integrates a full compliance package, utilizing FinTech, automated reporting, and is overseen by compliance experts to make the process as painless as possible.

Operations: Mbanq CUSO’s latest digital and cloud computing technology automates the majority of processes to operate a Credit Union.

The entirely digital system runs on a unified database with a single source of truth. It offers the full scope of financial services, including cards, loans and payments, with a modular architecture and full API connectivity to easily adapt member services as future trends demand.

“Credit Unions focus on providing outstanding value to members, such as innovative rewards programs and insurance products, whilst keeping fees minimal. CUaaS understands and enhances these particular strengths so Credit Unions can focus on serving the needs of their members without worrying about the technology or operational aspects,” Vlad Lounegov adds.

CUaaS is designed to take care of everything a Credit Union needs behind the scenes, so Credit Unions can innovate and deliver outstanding services at the best possible value for members.