Press Release

CONNEXUS CREDIT UNION PRESENTS INNOVATIVE SECURITY SOLUTION FOR CREDIT UNIONS AT FINOVATEFALL 2022 CONFERENCE

Chad Rogers, Executive Vice President and Chief Operating Officer at Connexus Credit Union, took the stage at the FinovateFall 2022 conference in New York City in September with Milind Borkar, Ph.D., Chief Executive Officer and Founder of Illuma, and Karan Kashyap, Chief Executive Officer and Co-Founder of Posh Technologies. Together, the trio showcased Illuma Shield™, a platform designed specifically for credit unions that leverages artificial intelligence to provide faster, more accurate voice authentication while preventing fraud, protecting member accounts, and maximizing call center efficiency, fully integrated into Posh Voice, the Intelligent Virtual Assistant from Posh.

Borkar and Kashyap performed a live product demonstration highlighting the innovative benefits of Illuma Shield, including frictionless account access without pins or passcodes; now available for 24/7 member service with a user-friendly, conversational IVR from Posh; and enhanced security powered by biometric voice authentication. Rogers spoke about the proven success Connexus has experienced since making Illuma Shield available within their Member Contact Center to over 400,000 credit union members nationwide in 2020.

“With a forward-thinking commitment to innovation designed to improve security and experiences for our own members and the credit union industry at large, we’re proud to be one of the earliest adopters of Illuma Shield,” stated Rogers. “This platform has allowed us to mitigate fraud and protect our members’ data and assets while also streamlining our member service experience. With Illuma Shield, we have a two-year proven track record of eliminating burdensome authentication questions, shortening call time, and affording our members and the employees assisting them a much more engaging, efficient, and satisfying experience.”

Connexus first partnered with Illuma as a client in July of 2020. Following Illuma’s successful launch of several new product integrations, including the Conversational IVR integration from Posh, Connexus officially invested in Illuma in July of 2022.

FinovateFall is one of the largest and most influential fintech conferences worldwide, featuring over 60 live product demos by industry experts and influencers to more than 1,600 financial institution senior leader attendees. Finovate’s next conference, FinovateSpring, will be held in San Francisco in May of 2023.

About Connexus Credit Union

With more than 630 employees serving more than 440,000 members across all 50 states, Connexus is a member-focused cooperative with over $4.97B in assets. Connexus is proud to provide high yields for checking accounts and deposit products, as well as an industry-leading Digital Banking experience and competitive rates for personal, home, and auto loans. The Wausau, WI-based credit union has been nationally recognized for excellence by Forbes, CNN Money, NerdWallet, Kiplinger, and Bankrate. Connexus is committed to being a nationally relevant, trusted credit union, providing exceptional experiences and fostering prosperity for those it serves. For more information, visit https://www.connexuscu.org/.

About Illuma Labs

Illuma Labs is a credit union service organization headquartered in Plano, Texas. The company’s flagship product, Illuma Shield™, replaces traditional knowledge-based authentication practices with an effortless and secure real-time voice authentication solution to enhance member experience, improve operational efficiency, and prevent fraud. Illuma Labs is the exclusive provider for CUNA Strategic Services and has industry endorsements in 34 U.S. states. For more information, visit https://illuma.cx.

About Posh Technologies

Posh was founded in 2018 by Karan Kashyap and Matt McEachern out of MIT with the vision to empower financial institutions through intuitive, conversational AI. The proprietary conversational AI fosters an enjoyable and efficient banking experience for users. Posh is rapidly growing, partnering with more than 50 financial institutions to deploy web-based and mobile-based digital agents in addition to voice assistants. Posh is headquartered in Boston. Learn more at https://www.posh.tech/.