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The Denver-based fintech CUSO CULedger announced a new name and brand Wednesday: Bonifii. According to the CUSO, Bonifii is a play on the word bona fide, which means genuine or authentic and reflects its flagship product, MemberPass.
"The 'ii' at the end of Bonifii is a symbolic reference to our mission, which is to deliver a trusted and verifiable peer-to-peer exchange network," Julie Esser, SVP of marketing and communications for Bonifii, stated.
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The new name is reflected on the organization's website, now located at bonifii.com.
Bonifii blossomed out of CUNA's National Credit Union Roundtable event in 2017 as a research to action project focused on developing a proprietary blockchain/distributed ledger network and product exclusively to be used for call center identification purposes. It later evolved into a CUSO, allowing credit unions to join its digital network of peer-to-peer financial exchange. Bonifii's offerings include the digital passport MemberPass (formerly known as MyCUID), which enables credit unions to assign members a single digital credential that serves as verification for contact center interactions, loan applications, and transactions such as bill pay, external ACH and wire transfers, while providing control and privacy of their personal information.
Last month, Bonifii announced it had acquired CUFX (Credit Union Financial Exchange) from CUNA's Technology Council.
"CUFX is the result of a grass-roots initiative," Chris Saneda, former CUNA Technology Council chair, CUFX steering committee member, and EVP and COO at the $4.5 billion, North Chesterfield, Va.-based Virginia Credit Union, said in a Feb. 5 news release. "It started with senior IT credit union executives who recognized a need for credit unions as they were trying to get their different systems to work together. The CUNA Technology Council leadership was instrumental in helping to get CUFX off the ground and continued to provide resources as it progressed into its position today. With the transition to CU Ledger, CUFX will get added support and continue to work with its users and CUNA Technology Council volunteers to assist with future improvements."
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Natasha Chilingerian
Natasha Chilingerian has been immersed in the credit union industry for over a decade. She first joined CU Times in 2011 as a freelance writer, and following a two-year hiatus from 2013-2015, during which time she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union), she re-joined the CU Times team full-time as managing editor. She was promoted to executive editor in 2019. In the earlier days of her career, Chilingerian focused on news and lifestyle journalism, serving as a writer and editor for numerous regional publications in Oregon, Louisiana, South Carolina and the San Francisco Bay Area. In addition, she holds experience in marketing copywriting for companies in the finance and technology space. At CU Times, she covers People and Community news, cybersecurity, fintech partnerships, marketing, workplace culture, leadership, DEI, branch strategies, digital banking and more. She currently works remotely and splits her time between Southern California and Portland, Ore.
