Credit Union Fintech: Redboard
Redboard is a CUSO that provides seamless and secure NCUA audit and examination tools. Their financial compliance software assists credit unions in overseeing, collecting, and submitting answers and documents to auditors and examiners.
Redboard knows that credit unions can be overwhelmed when responding to examinations or audits. Coordinating between internal resources, management, inside counsel, and outside counsel requires time and effort.
Unfortunately, one mistake can waste time and resources, raise costs, or result in adverse action by the regulators or the Board. Redboard helps prevent all kinds of audit nightmares.
In the realm of governance, risk management, and compliance software (GRC), Redboard is the only major solution for credit unions facing external audits or examinations.
Redboard was founded by Axiaware’s Brad Powell in 2016. Redboard’s mission is to help credit unions address their audit and examination issues. Redboard partnered with Ongoing Operations to improve the security of their audit management software. As a result, Redboard ensures top-notch security for its cloud-based platform.
Today, Redboard offers a secure, cloud-based platform that provides seamless communication, task management, document control, and a detailed audit trail for credit unions. It helps eliminate mistakes—especially for time-sensitive material—across numerous individuals and departments.
Top 3 Problems Solved
- Credit union audit management
- Credit union examination management
- Governance, risk management, and compliance for credit unions
Redboard Founder: Brad Powell
Brad Powell runs Axiaware, which is a technology company that helps credit unions, banks, and insurers deliver software experiences to their customers on all of their devices.
Brad’s extensive knowledge of financial pain points and his educational background in economics led him to the credit union industry. His detail-oriented approach to business is a perfect fit for compliance software and the heavily-regulated space that credit unions live in.
Redboard Market Strategy
Credit Unions only.
Credit Union Fintech: Redboard in the News
CU2.0 Sponsor = Yes
- Segment: Compliance
- Demographic: multiple
- Impact on Member Growth: low
- Impact on Interest Margin: low
- Impact on Non-Interest Income: low
- Impact on CU Branch: low
- Expense Reduction: low