It’s CU 2.0 Fintech Friday! Today, Chris Otey sits down with DocFox to discuss all things credit union, fintech, and digital innovation.
If you want your credit union to grow, and grow safely, the fintech DocFox wants to help. Their goal is to help your credit union navigate the ins and outs of onboarding, regulation, and compliance. As a bonus, they also protect you from people and businesses that could land your credit union in hot water.
DocFox is an automated onboarding, FICA, and Know-Your-Customer (KYC) tool. It expedites compliance with new regulations that require credit unions to have more robust BSA programs, including risk rating of all members.
DocFox ensures that you can avoid members or businesses who work in high-risk fields such as gambling or cannabis. DocFox also protects your credit union from facilitating terrorism, money laundering, drug trade, and human trafficking.
If this sounds like an intriguing credit union–fintech partnership, check out the video and company snapshot below!
Credit Union Fintech Snapshot: DocFox
Top 3 Problems Solved
- Member risk rating and sanctions screening
- Automated documentation and onboarding
DocFox Founder: Ryan Canin
DocFox Market Strategy
Banks and Credit Unions
Credit Union Fintech: DocFox in the News
Interested in seeing more fintech entrepreneurship? Check out the CU 2.0 fintech infographic, Death by 1,000 Cuts. You can see firsthand the impact fintechs have had on the credit union industry, as well as how fintech innovation can improve your income statement, balance sheet, interest margin, services, and more.
Credit Union 2.0 believes fully in the power of credit union and fintech partnerships. With the shared goal to redefine multifaceted financial services models look like to members, more credit unions are looking to partner with forward-leaning fintechs.
If you want to learn more about credit union–fintech partnerships, click here.