Reseda Group, a wholly owned credit union service organization of MSU Federal Credit Union (MSUFCU) in East Lansing, is investing more than $2 million to support five emerging fintech companies — Strivve, Facteus, Pocketnest, Tandem, and Ascent — as part of its commitment to develop technology and solutions to improve the credit union industry.
Strivve is a startup based in Seattle that helps credit unions increase card usage and transaction volume by providing cardholders a way to instantly add or update cards online through its platform. It uses automation to instantly place any new or reissued credit card on any online account at one time, in one place.
Facteus is a data-as-a-service (DaaS) company headquartered in Portland, Ore. It specializes in providing comprehensive consumer spending data to businesses in the financial sector, retail, government, research, and beyond. Through its AI-driven platform, the company delivers actionable insights derived from alternative data sources, which is designed to help clients to make data-driven decisions.
Pocketnest is a Detroit-based fintech mobile app that licenses and white-labels its financial wellness software to financial institutions and employee wellness programs that are designed educated their communities on comprehensive financial wellness while driving business growth and identifying revenue opportunities.
Tandem is based in Ann Arbor and its product is a consumer fintech platform for couples. The platform is creating the infrastructure to capture the entire household’s financial product purchases from day one. Tandem is engineered to help Gen Z and Millennial couples navigate their first money milestones and ultimately their financial futures by introducing them to life-stage relevant financial products.
Ascent is a New York startup that is designing a data platform that provides financial institutions with the tools and knowledge required to service their customers.
The investment in Pocketnest follows its pilot with five credit unions, including MSUFCU, where it is now fully available to all members. Tandem is also currently in pilot at MSUFCU, and both Ascent and Strivve will be launching pilots with the credit union this summer.
“We are pleased to support this group of dynamic fintech startups that are transforming the way credit unions engage with their members and members engage with their money,” says April Clobes, president and CEO of Reseda Group and MSUFCU.
“As the credit union industry continues to embrace fintech partnerships to build out stronger digital experiences and new growth opportunities, Reseda Group is proud to help foster next-generation technologies and make them more accessible to credit unions.”
