And the winner of the 2020 NBI Competition is....
NACUSO's Next Big Idea Competition, our version of the popular TV Show "Shark Tank" is now in its eighth year, and 2020 marks the first year in which prize money is available -- $7,500 for first place, and $2,500 for second place, courtesy of CO-OP Financial Services! 2020 also marked the first year the competition was not live, but rather online. The rules were the same, each contestant was given 7 minutes to present and then the judges were given 8 minutes to ask questions. But ultimately the "audience" decides the winner. And with over 125 attending they voted NetGiver as number one and Posh Technologies took second place.
The Final Four and their Big Ideas included:
Illuma Labs (www.Illuma-labs.com). “Illuma Shield” is a real-time voice authentication and fraud prevention service for credit union call centers. Replacing traditional and intrusive authentication processes like knowledge-based authentication (i.e., mother’s maiden name, etc.), Illuma Shield passively analyzes the member’s voice over natural conversation and results in higher authentication accuracy in a fraction of the time.
NetGiver (www.netgiverapp.com). NetGiver eliminates credit card, platform and administrative fees associated with charitable transactions and the charity gets 100 percent of what credit union members donate. Provided to credit union members as a mobile app, NetGiver is a unique acquisition and retention tool which delivers a branded, feel-good experience by simply and securely facilitating donations to a member’s preferred nonprofit organizations.
Posh Technologies (www.posh.tech). Posh has built a powerful conversational AI platform that is more humanlike and natural. The platform is designed such that it can integrate seamlessly with credit union backend tools, from banking cores to customer relationship management systems.
Pure IT Credit Union Services (https://pureitcuso.com). Pure IT offers customized strategic roadmaps ahead to help the credit union crush their goals, regardless of what solution or gadget they implement. Pure IT services credit unions needing an objective blueprint that outlines where their current strategy is now, and where they want to grow.
Congratulations to all four of our finalists who did an amazing job presenting in what we are all coming to know is the norm for now.
Thanks again to CO-OP Financial Services for supporting our event with $10,000.00 in cash prizes.