Awardees range from automated risk reviews to interactive toolkits

NAFCU Services has named the winners of their 2023 Innovation Awards . The awards program recognizes companies making the most valuable and innovative contributions to credit union success, including groundbreaking advancements in technology, software, digital media, campaigns, and more.

“Our 2023 Innovation Awards winners showcase the groundbreaking solutions that help credit unions succeed,” noted NAFCU Services President Randy Salser. “Thank you to all of the participating companies for constantly innovating and driving our industry forward, and congratulations to the winning entries for being recognized valuable contributions!”

The 2023 Innovation Award Winners are:

DefenseStorm | Fraud Fusion Center

A quarterly, collaborative roundtable that brings together financial institutions, law enforcement agencies, and other relevant entities to share intelligence, coordinate efforts, and take action against cybercriminals. It bridges the gap between information security and fraud departments.

Franklin Madison | Pre-Authorized Benefit Increase

A tool that provides a customized way for members to increase their insurance benefits, focusing on real-time, personalized solutions for members. It addresses critical pain points by embracing efficiency, member satisfaction, and financial wellness.

Open Lending | Lenders Protection Enhanced Scorecard

A new feature of the flagship product, Lenders Protection, the enhanced scorecard expands auto lending inclusivity and improves loan decisioning accuracy with the addition of 21 alternative data attributes and expanded criteria. It helps to expand auto access to deserving borrowers.

Piper Sandler | Balance Sheet Efficiency Model

A customizable quantitative model for credit unions to analyze multiple facets of balance sheets and identify balance sheet strategies. It incorporates the entire interest rate risk profile of the individual Credit Union and has the ability to incorporate full on- and off-balance sheet opportunities/solutions.

Q2 | Centrix PIQS Automated Risk Reviews

A product that provides credit unions with technology to help them monitor and manage risk reviews, ACH, RDC, and wire activity. It saves credit unions time and improves efficiency by streamlining a process that previously took days or weeks into a few hours.

Securian Financial | Interactive Toolkit

An interactive toolkit summarizies research findings around financial concerns, banking loyalty, member expectations, and more. It offers solutions and recommendations to help credit union leaders improve their member experience.