Credit Union Fintech: Illuma Labs

Who is the product for?

Credit Unions and Banks

What does it do?

  • Passive voice authentication for Credit Union Contact centers and member service teams – Reduce operating costs, enhance security against fraudsters, and elevate the user experience
  • Core technologies are the outcome of $2m in R&D contracts with the US Department of Homeland Security Science and Technology Directorate
  • 3 Patents pending

 

Contact information

www.illuma-labs.com
Milind Borkar (founder and ceo), [email protected]

 

Top 3 Problems solved:

  1. High Accuracy Authentication – Achieves < 1% equal error rates in various use cases
  2. Quick and low cost deployment – no special hardware, straightforward integration with SIP based phone systems
  3. Privacy of member information – the only cloud authentication service that does not require the phone call to go to the cloud

 

Illuma Labs Founder: Milind Borkar

Technology professional and entrepreneur responsible for defining business strategies for a range of products and end equipment markets, and executing these strategies through product management, product marketing, business development and cross functional team leadership. Experienced in managing business responsibilities for product lines with large existing customer base and revenue, as well as starting and growing businesses in new and emerging markets. Leverages strong analytical skills and systems engineering background to define product requirements that solve customer problems, and to effectively communicate product benefits to targeted and broad market audiences.

 

Illuma Labs go to Market Strategy:

Partner with credit unions to distribute to members

 

CU2.0 Sponsor = [No]