Credit union embraces collaborative banking model, enabling fintech partnerships at unprecedented scale
Asa connects financial institutions with customer-facing fintechs in a secure, compliant and easy to implement marketplace. The company today announced that Tucson, Ariz-based Pyramid Federal Credit Union has selected the Asa platform, embracing collaborative banking to quickly introduce new technologies.
Pyramid FCU will connect to a community of fintechs via Asa’s digital rails, allowing the credit union to instantly deliver new innovations and capabilities for members in a secure, safe way. All member data is tokenized, normalized and anonymized before it’s shared with any fintechs, eliminating liability and risk. With Asa, Pyramid FCU will be able to personalize the member experience at scale.
“As a community institution, it can be challenging to keep up with the rapid rate that technology and member expectations change,” said Ray Lancaster, CEO of Pyramid FCU. “Asa and the collaborative banking model help solve for this pain point, providing members with fast and easy access to the apps and tools they want to try, all without having to share any sensitive information. This allows us to nimbly innovate without being bogged down with cumbersome one-to-one vendor due diligence, carving out a strong competitive advantage.”
By creating a trusted, closed ecosystem in which financial institutions and fintechs benefit from one another, Asa is enabling banks and credit unions to innovate, fintechs to scale and consumers to take control of their data and finances. With Asa, Pyramid FCU’s members will have the benefit of both the latest modern technology and the credit union they know and trust.
“Leaders like Pyramid FCU understand the importance of delivering the new technologies and tools members want, backed by the local, personal service they crave,” said Landon Glenn, CEO and founder of Asa. “By embracing the collaborative banking model, Pyramid FCU is improving the member experience and empowering them with unprecedented choice, all while removing much of the liability and risk that has traditionally hindered credit union-fintech partnerships.”
About Asa
Provo, Utah-based Asa connects financial institutions with customer-facing fintechs in a secure, compliant and easy to implement marketplace. With Asa, banks and credit unions are innovating more quickly, fintechs are scaling more easily and end users are empowered to take control of their data and finances. Learn more at asa.financial.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220726005298/en/
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Maddie Mitcham
maddie@williammills.com
