PSCU/Co-op Solutions, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider, has announced the launch of its Fintech Engagement Program, which is designed to drive collaboration between financial solutions providers and fintech companies.

According to Cornerstone Advisors, 70% of financial institutions report fintech partnerships are important to their business strategies. However, many fintech and financial institution partnerships are falling short of anticipated results. Three-quarters (75%) of venture capital-backed fintech startups fail, and fintech funding experienced a 46% decline from Q3 2022 to Q3 2023.

Through this newly launched program, PSCU/Co-op Solutions aims to bridge the fintech-credit union gap, providing a collaborative space for developing new solutions to meet the needs of both credit unions and their members.

“The opportunities fintechs represent for credit unions – from access to cutting-edge technologies to workplace efficiencies and more – are almost limitless when the right partners come together and work toward the same goal,” said Vladimir Jovanovic, vice president of Innovation, PSCU/Co-op Solutions. “Our Fintech Engagement Program aims to connect these two groups – fintechs and credit unions – to discover possibilities, unlock opportunities and help navigate challenges.”

The program consists of a collection of vetted fintech companies and a Fintech Advisory Board comprising credit unions that understand industry pain points and desire an active role in addressing them. Board members will be committed to disrupting traditional ways of banking and willing to identify use cases, as well as actively participate in ideation and proofs of concepts.

Powered by PSCU/Co-op Solutions’ Emerging Services team, the Fintech Engagement program represents the next phase in the company’s ongoing commitment to innovation and research and development (R&D) on behalf of its credit unions.

To learn more about the Fintech Engagement Program, visit pscu.com/fintech.