Bonifii, a Denver-based fintech CUSO formerly known as CULedger, has partnered with hybrid fintech/regtech platform provider FinClusive, infusing FinClusive's compliance and security capabilities into its flagship product MemberPass, Bonifii announced last week.
MemberPass (formerly known as MyCUID) 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. Through the new partnership, FinClusive's Anti-Money Laundering (AML)/Know Your Customer (KYC) capabilities will be integrated with MemberPass, enabling individual and small business credit union members to establish verifiable digital identities backed by their essential financial crimes compliance (FCC) information, Bonifii said.
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