Passageways Touts Portal Signings
Passageways LLC said it added 12 new portal customers in June, giving it 32 signings for the first half of the year, its best so far since it was created as a CUSO of Purdue FCU (then Purdue Employees FCU) in 2003.
Six of the 12 new customers are credit unions and are using either the company’s board or vendor management portal. They are Lafayette FCU of Kensington, Md., America’s First FCU of Birmingham, Ala., Edwards FCU of Edwards, Calif., Emory Alliance CU of Decatur, Ga., Ashland CU of Ashland, Ky., and Members Cooperative CU of Cloquet, Minn., the company said.
Nine existing customers also have bought additional modules from the company, Passageways said.
The company cited improved market conditions and a particular interest in such products as vendor management and the integration of social media tools into its portals for the growth. Paroon Chadha, co-founder and vice president, said more than 60 customers have subscribed to the vendor management solution in the 18 months since it was launched.
"Passageways is benefiting from the renewed commitment to increasing employee productivity and an increased emphasis on internal efficiencies" Chadha said. "We are now seeing the results of our investment in our portal technology as well as the business applications the market needs."
He said the Lafayette, Ind., company now has more than 230 clients in the United States, Canada, Russia and the Caribbean.