Credit Unions

Increase Profitability for Your Credit Unions

everage your lending technology and get the potential for significant gains in operational efficiency.
Save 30-70% on crucial back-office workflows, making your loan origination process, decision-making, risk assessment, servicing, payment collection, and report configuration fully automated with our Lending Management Solution.
Free up staff time to focus on servicing portfolio and delivering better member service.

A Smart Solution for Your Challenges

Legacy technological platform
Legacy content management systems are creating silos, which slow down decision-making and increase manual labor that create bottlenecks in operations.
Transform customer experience and improve service quality.
Implement decision-making tools that will accelerate and improve the approval process for loans.

What We Offer Credit Unions

Digital Customer Onboarding

Fully digitize your customer onboarding process to meet and surpass the expectations of new borrowers and have a competitive advantage in the market. Establishing your parameters for any stage of the lending process.

Alternative Credit Scoring Powered by AI

Applying alternative credit scoring allows you to capture more loans while staying within the credit risk level you set for yourself. It expands your portfolio by covering cases with not enough credit history. It also increases portfolio profits by accurately pricing new clients. The core of our Digital Lending Platform is the proprietary AI-powered credit scoring software that uses machine learning to fine-tune the algorithm constantly.

Fraud Risk Management

An intelligent AI-powered origination process is designed to protect your organization from virtually any fraud. Combine standard and alternative methods to evaluate each loan application. With our experts, you can customize your decision-making by employing the best practices and new fintech solutions to guarantee ultimate fraud protection and cybersecurity.

Cloud-Based Platform

Compassway Lending Platform for credit unions is completely cloud-based. All functionality, including credit applications, decision-making, servicing, data collection, and report configuration, is hosted on cloud servers and is available from anywhere around the globe from any device.

Reports & Analytics

We can provide detailed and meaningful insights into credit union staff's performance, portfolio quality, the efficiency of your lending processes, and many other aspects using SaaS cross-integrated modules. If necessary, the system may be configured to create reports specific to your business or based on the data from your in-house software.

Accurate Time ID Verification KYC, AML

Digital lending software is equipped to synchronize data from KYC registries, credit bureaus, banks, etc., to ensure that all uploaded data and documents are authenticated. Decision rules and underwriting algorithms are then used to determine whether the loan application passes the checks and balances of risk.

How Can CompassWay Help You?

Credit unions benefit from our state-of-the-art solutions to these typical problems, which include tools that automate and enhance their unique lending processes.

Improve Your Credit Union Efficiency Ratio by up to 5 Points In 12 Months

CompassWay is an all-in-one lending platform that automates the loan origination process from application to funding, delivering a best-in-class experience for your clients and team – for any loan product. With advanced algorithms and analytics, banks can quickly score clients and automatically make credit decisions.ct, anywhere in the globe. By reducing time and costs during the origination and portfolio management stages, a bank or credit union becomes more productive and has more room to develop new business.

Reduce Lending Cost

A digital lending platform decreases costs by 30 to 50% by saving employees’ time, reducing the cost of new client acquisition, increasing the rate of repeat clients, and reducing the need for brick-and-mortar investments.

Improve Technology Return on Investment

CompassWay 's Lending Management Solution for credit unions is designed to make the system more efficient and transfer repetitive everyday tasks from the agent to the automated system. Automated reporting allows a manager to run various reports that help improve the efficiency of the entire credit union.

Cross Sell More

Digital lending platforms such as CompassWay have a multi-product lending system that will help retain customers because they no longer need to look for other lenders for their needs – everything is in one place.

Seamless Colloboration

Automate inefficient paperwork and empower employees through technology by promoting teamwork and efficient collaboration. Configure roles and permissions based on your unique servicing policies so that each team member can access the information and tools they need to do their job effectively while maintaining data security and privacy.

Starting with Compassway Is Easy

We deliver complete lending software that automates every step of the lending process.
Get an utterly customizable lending platform that is powerful, simple to use, and tailored to your specific requirements—no coding required.
Ready to be deployed in days. Unbeatable price.
Sigh UP Free for the 15-day trial.

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WHAT CUSTOMERS SAY

In today's fiercely competitive e-commerce landscape, staying ahead of the curve is crucial. Despite attracting numerous visitors to our e-commerce platform, converting traffic to sales proved challenging. We must resolve the problem of increasing the conversation rate and boosting sales. We partnered with Compassway to integrate loan business software to provide a 'buy now, pay later' (BNPL) in-house financing option. By empowering customers with flexible BNPLl loans, we not only improved the accessibility of higher-priced items but also significantly boosted our sales by 30%.

Natalia BurkoHead of Business Development at Taksaexpress

Our clients are primarily millennials who prioritize fast and easy lending services. However, our manual risk management process was slowing down our credit decision-making. We shifted to CompassWay's lending solutions end-to-end loan management platform. This strategic move improved our customer acquisition cost and conversation rate from applicant to client. With the ability to quickly update risk models, we've seen a decline in default rates, thus enhancing our profitability. Looking back at the transition, it's clear that upgrading your systems was a wise decision.

Denis BobrovCFO of CreditUP.UA.

As a BNPL provider, we tapped into the burgeoning realm of SMEs on social media platforms like Instagram and Facebook, aiming to bolster their sales through a seamless, integrated shopping and payment experience. Recognizing the critical pain point of limited payment options contributing to high cart abandonment rates, we collaborated with CompassWay to devise a user-friendly BNPL solution tailored to our clientele. This initiative enabled merchants to effortlessly present flexible payment choices at checkout, empowering customers to purchase immediately and defer payments. Working with CompassWay was a remarkably smooth process. The customizable nature of their solution allowed for rapid deployment, operational in mere weeks, greatly exceeding our efficiency expectations.

Irina SenenkoHead of Customer Service at PIE CREDIT.