Associated Credit Union of Texas will tap Crux Analytics’ small business intelligence platform to boost its business banking capabilities.  

“The platform enables us to deliver tailored insights at scale, something that previously required significant manual effort, Brandi Pitre, business banking officer at the $540 million ACU of Texas, told Bank Automation News. “Our small business members now benefit from proactive, data-driven recommendations based on their specific needs, growth opportunities and challenges.”

New York-based Crux Analytics uses intelligent automation to determine how to best serve business clients, co-founder Jacob Bennett told BAN. “We automatically identify the best prospects, gather essential information and create tailored engagement strategies without bankers spending hours on manual preparation.” 

The platform does not require an integration process, Bennett said, but noted that it can be integrated with other systems, if desired.  

“A typical onboarding takes about a week, but can be accomplished in a few hours,” he said.  

The League City, Texas-based credit union joins major financial institutions including Truist and U.S. Bank in their recent focus on digital investment strategies for SMBs. 

United Community Bank, Newgen team up for small business lending

United Community Bank has selected Newgen, an AI digital transformation platform provider, to streamline small business lending operations.  

The $27.7 billion bank is tapping the tech provider’s small business administration solution, according to a May 12 announcement. The solution is built on a low-code, AI-enabled platform that was integrated into the bank’s core. 

With Newgen in place, the bank can digitize loans, lines of credit and overdraft facilities, according to the release.

“We’re now prepared to handle increasing loan volumes and process new deals every month,” Pete Peterson, chief retail credit officer at the Greenville, S.C.-based bank, said in the release. 

Other Newgen bank clients include Bank Midwest and Enterprise Bank, according to the company. 

SunCoast Credit Union selects Informed.IQ

Tampa, Fla.-based Suncoast Credit Union is using AI-driven document automation and decisioning tool Informed.IQ to improve its auto dealer lending capabilities. 

The $18.5 billion credit union will use San Francisco, Calif.-based Informed.IQ’s VerfyIQ funding analyst platform, which offers faster funding and processing, according to a May 13 release.  The solution taps AI to allow for faster decisioning, boosting overall efficiency of funding.

“With Informed, we’ve been able to boost our funding output, reduce turnaround time and improve the dealer experience,” Carly Mullins, vice president of consumer loan fulfillment at Suncoast Credit Union, said in the release. “All with minimal disruption to our existing systems.” 

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