CUSOs

The deal expands the number of compliance tools owned by credit union leagues and other industry groups.

Credit unions are upping their involvement in all things related to payments in an attempt to bolster the bottom line and ensure they keep up with the competition.

The proposal's aim is to ensure borrowers are treated fairly and would require companies, including CUSOs, to submit licensing applications.

The loan-aggregation CUSO has partnered with CU Financial Group to offer its members access to a range of insurance carriers.

Banks are under competitive and regulatory pressure to either compete or partner with fintechs that support services such as mobile payments, and credit unions are in the same boat — though with a very different challenge at the start.

CU Payz has six founding credit union members, including Coastal Credit Union, and will be open to the entire industry.

The Jacksonville, Fla.-based credit union is the initial investor in PayverisCU, which will help members with financial wellness and money management.

The credit union service organization said the move was part of its focus on marketing technology products.

The Memphis-based developer of core processing software is now majority owned by three credit unions.

The Michigan-based CUSO has acquired a stake in NestReady, giving it exclusive industry rights on the mortgage technology firm's products.