Credit Unions

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Increase Profitability for Your Credit Union

Leverage your lending technology and get the potencial significant gains in operational efficiency.
Save between 30-70% on key 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, increase manual labour 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 own 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 proprietary AI-powered credit scoring software that uses machine learning to constantly fine-tune the algorithm is the core of our Digital Lending Platform.

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. Together with our experts, you can customize your decision-making by employing the best practices and new fintech solutions to guarantee the 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 a lot of 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.

Real 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 up to 5 Points During 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 both 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 cost of new clients acquisition and increased rate of repeat clients, as well as reduced need for brick-and-mortar investments.

Improve Technology Return on Investment

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

Cross Sell More

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

Seamless Colloboration

Automate inefficient paper work and empower employes through technology by promoting team work and efficient colloboration Configure roles and permissions based on your unique servicing policies, so that each team member has access to the information and tools they need to do their job effectively, while also maintaining data security and privacy.

Starting with Compassway Is Easy

We deliver complete lending software that automates every step of the lending process.
Get a completely 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 15 days trial.

WHAT
CUSTOMERS SAY

We used to have an older system that required more than a day to update or deploy a new risk model. In addition, credit decisions were slow. We estimated we were losing 15% of customers due to abandoned applications. For millennials, who are now a majority of our clients, responsiveness and convenience are key for lending services. We implemented an end-to-end digital lending platform offered by CompassWay and it allowed to significantly improve customer retention. Up-to-date risk models also mean lower defaults rate and improved profitability. The system is easy to work with in case we need to add new clients or product types. We also received excellent customer support from CompassWay team. Overall very satisfied with the upgrade decision.

Denis BobrovCFO of CreditUP

Our key clients are SME firms that sell their products using social media platform such as Instagram and Facebook. They have magnitude of various products and various preferences in the lending options they would like to provide to their customers. Thus, we needed a powerful, yet flexible and simple system, which would allow quick onboarding of new clients and their products. CompassWay offered a solution that not only satisfied these criteria but also was intuitive and easy for the customers of our clients. That allowed to create a seamless shopping experience, as well as improve customers’ satisfaction and rate of completed sales. For our team, working with CompassWay was very easy. Since the system was highly customizable out of the box, we were up and running in just several weeks. We also benefitted from their business expertise and improved a weak link in our processes we did not know was a problem. Highly recommended company to work with.

Irina SenenkoHead of Customer Service at PIE CREDIT

Nowadays, the competition in online trading is stronger than ever. In order to outperform the rest and come out ahead, we needed to provide our customers with services that would keep them on the site. Many buyers came to our online store, but there was much less talk about sales. We reached out to the Compassway team for help because Compassway is in the business of developing and implementing advanced digital solutions, and they advised us to first consider implementing a product on credit or in installments. Indeed, most often the reason that buyers leave the site without making a purchase is banal: they do not have enough money. We listened to advice, and now every customer who enters our website and selects a product immediately sees the "buy on credit" button with a convenient loan calculator and BNPL option in the checkout. He understands that he can afford to buy now, and pay later and in installments. As a result, it was possible to increase profits and total sales by 30%, as the client now purchases a product of a higher price category, or increases the number of purchases.

Natalia BurkoHead of Business Development at Taksaexpress