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Products

Jwaala Truaxis offer CUs StatementRewards platform

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AUSTIN, Texas (8/23/12)--Truaxis, a provider of in transaction-enabled services, has been selected by online banking provider, Jwaala, to offer Truaxis' StatementRewards through Jwaala's Better Online Banking solution.

Truaxis' data-driven services platform will allow Jwaala's credit union clients to provide personalized rewards and discounts, funded entirely by retailers, direct to their members within the online or mobile banking environment. Truaxis' platform includes more than 70,000 offers from nearly 40,000 local, regional and national merchants. It uses algorithms to analyze its inventory and match appropriate offers to credit union members in real time.

"We saw Truaxis' StatementRewards technology as a lightweight and seamless addition to our services offered for our credit unions," explains Kelly Dowell, chief operating office of Jwaala. "The entire process--analyzing offers, handling presentment and redemption, crediting the user's account--is handled by Truaxis. It requires minimal interaction from the credit unions and can be easily rolled out across our entire customer base. Our credit unions win because, at no cost to them, they're able to delight their members with savings from their favorite retailers," Dowell added.

Truaxis' personalized transaction-enabled services platform customizes rewards and discounts based on past purchase history, predictive analytics and collaborative filtering. Personalized offers have been shown to lift members' spending and online engagement with their credit union, which deepens the relationship and increases member satisfaction and loyalty, Truaxis said.

CUNA Mutual DocuSign team up on eSignatures

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SAN FRANCISCO (8/23/12)--DocuSign, an electronic signature provider, and CUNA Mutual Group, a provider of insurance and financial services to credit unions, have partnered to offer credit unions electronic signature solutions to speed the lending process and provide options in the wake of recent regulations on multi-featured open-end lending (MFOEL).

DocuSign's partnership with CUNA Mutual Group will help credit unions:

  • Earn interest faster--Credit unions get loan documents completed faster to earn interest sooner;
  • Eliminate "Not In Good Order"-- Guided, error-proof signing means complete documents every time;
  • Meet compliance requirements--Credit unions control the signing process to ensure all data remain secure and every transaction includes a complete audit trail; and
  • Serve members--Members can open accounts and apply for loans in minutes anywhere, anytime, on any device without a trip to the credit union.
The agreement between CUNA Mutual and DocuSign comes shortly after the National Credit Union Administration (NCUA) issued its guidance letters on multi-featured open-end lending (MFOEL) and multi-featured lending. The NCUA clarified that open-end and closed-end lending are two distinct regimens and each require their own application, timing requirements and disclosures for the member-borrower.

DocuSign said it is positioned to help credit unions ensure compliance for both types of lending while maintaining the same type of member convenience associated with an MFOEL program.

DocuSign and CUNA Mutual Group will host educational webinars designed to offer credit unions insights, best practices and practical methods to comply with the new NCUA regulations.