Linqto, a Silicon Valley technology company that specializes in apps for the financial services industry is partnering with LEVERAGE, an affiliate of the League of Southeastern Credit Unions & Affiliates (LSCU), to pilot the LEVERAGE App Store with nine credit unions.
LEVERAGE brings the mobile financial technology apps to 643 credit unions that boast 12.3 million members and $143 billion in assets.
The app store is powered by Linqto's patent-pending software platform, Otter, a first-of-its-kind platform that allows participating financial institutions to select from a list of the latest fintech apps, brand those apps and have them submitted to major app stores like Apple, Android, and Amazon for consumer use. LEVERAGE's store also offers a large collection of non-fintech apps, such as lifestyle and gamification, which are gaining popularity with millennials.
"Our process is unprecedented, as it allows financial institutions to have done in minutes what used to take months, without the hassle of any long-term contracts," said Linqto CEO and Co-Founder Bill Sarris. "Over the course of this year, Otter will unite the 643 credit unions in LEVERAGE's marketplace with their tech-savvy members through the use of mobile fintech. By presenting solutions that meet today's demand, we're equipping these financial institutions with the technology needed to attract and retain members in a competitive marketplace."
Credit unions adopting the future of fintech by participating in the Linqto/LEVERAGE pilot program include:
Bethpage Federal Credit Union, New York
CFCU Community Federal Credit Union, New York
Inner Lakes Federal Credit Union, New York
First Florida Credit Union, Florida
Members First Credit Union of Florida, Florida
Buckeye Community Federal Credit Union, Florida
Sun Credit Union, Florida
Alabama Credit Union, Alabama
Family Security Credit Union, Alabama
"By working with Linqto, credit unions are still able to offer their traditional services, but now they can also pair those services with premium technology from branded apps, enhancing mobile strategies and changing their members' mobile experience," said LEVERAGE President/CEO Patrick La Pine. "This brings a dramatic shift in the relationship members have with their credit union and their mobile devices."
Throughout the duration of the pilot program, Linqto will identify the best apps to suit credit union and member needs. Once the six-month pilot is complete, LEVERAGE's App Store will be released to all of its 12.3 million members.
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