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Bonifii, FinClusive Team Up to Strengthen Verifiable Digital IDs

FinClusive’s compliance as a service solutions will be incorporated into Bonifii’s MemberPass for CU members.

Mobile phone security concerns. Source: Shutterstock

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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Natasha Chilingerian

Natasha Chilingerian

Natasha Chilingerian has worked in the credit union space for over a decade. She joined CU Times as managing editor in 2015 and was promoted to executive editor in 2019. Before that, she served as a communications specialist for Xceed Financial Credit Union (now Kinecta Federal Credit Union) in Los Angeles from 2013-2015, and as a CU Times freelancer from 2011-2013. She has been a professional writer and editor for more than 17 years, specializing in news and lifestyle journalism as well as marketing copywriting for companies in the finance and technology space.

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