CU Solutions Group and AffirmX Announce Strategic Alliance
by CUAD Communications
3/7/2019

CU Solutions Group (CUSG) and AffirmX announced yesterday CUSG’s acquisition of the majority ownership of credit union sector rights to AffirmX’s patented risk management and compliance solutions. As part of the agreement, CUSG, in conjunction with state credit union leagues, will expand and enhance the delivery of AffirmX’s compliance offerings.

AffirmX currently serves more than 120 credit unions nationwide, including many in North and South Dakota, with bundled and unbundled compliance risk assessment tools and services. This new alliance will seek to expand that network of association partners and build on AffirmX’s success in the marketplace.

The joint investment will not have an impact on the way our Dakota credit unions utilize AffirmX products and services, says Amy Kleinschmit, CUAD’s Chief Compliance Officer. “For all of our current Affirmx credit unions, you will continue to work with me and all the existing staff at AffirmX, just as before,” she stated. “For credit unions not currently using the product I’m happy to show you how Affirmx can help manage compliance at your credit union,” she added.

George McDonald, CUAD’s Chief Officer of Strategic Services, says the AffirmX acquisition by CU Solutions Group is exciting news for our members in the Dakotas, as well as credit unions across the country. “The combination of AffirmX’s risk management and compliance solutions, along with products from CUSG, including CU Policy Pro, provide an impressive suite of governance, risk and compliance solutions for credit unions of all sizes,” he stated. “Amy Kleinschmit and I will be happy to answer any questions you may have about the transition,” he added.

CUSG will contract with AffirmX to service current and future contracts and to partner in future product development. In cooperation with participating state leagues nationwide, CUSG and AffirmX plan to co-invest and co-distribute a robust suite of governance, risk and compliance (GRC) solutions. The transaction is targeted to close by March 31, 2019.

For more information on AffirmX or CU Solutions Group, please contact Amy Kleinschmit 800.279.6328 ext. 20964 or George McDonald 800.279.6328 ext. 942.

   

CU Solutions Group is a CUAD Senior CAP Partner and an award-winning credit union service organization that offers products and services in the areas of technology, marketing, HR performance and strategic advisory, which include web services, mobile app solutions, digital advertising, Save To Win, Love My Credit Union Rewards, Performance Pro and Compease. The company has more than 100 investors comprised of credit unions, credit union leagues and credit union system organizations. Headquartered in Livonia, Mich., the organization serves more than 3,400 clients nationwide and has strategic partnerships with Sprint, Intuit TurboTax®, GSTV and CU Vendor Management. For more information, visit CUSolutionsGroup.com.

AffirmX was originally established to help financial institutions stay on top of consumer regulatory compliance requirements. Traditional “boots on the ground” models of consulting are costly in terms of both the utilization of company resources and the time and billing rates of senior consultants and their associated expenses. To solve this problem, AffirmX created a hybrid solution: patented technology plus experienced analysts. Today, AffirmX has become an industry-leading risk management and compliance services provider by presenting clients with the prioritized, relevant and timely information they need to lower the cost of proactive risk management. They provide compliance tools for credit unions and banks that reduce the costs, workloads and anxieties associated with regulatory compliance. With more than 120 credit union clients and scores of association partnerships, AffirmX is a leader in the field of compliance management solutions. For more information, visit AffirmX.com.

 

<< Go to Memo List