News from the Wire

Velera partners with RAI PARTNERS

Wednesday, October 30, 2024 — 12:02:22 (EDT)

St. Petersburg, Fla. (Oct. 30, 2024) – Velera – formerly PSCU/Co-op Solutions, the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider – today announced its partnership with RAI PARTNERS.

Established in 2021, RAI PARTNERS is a fintech CUSO dedicated to providing a suite of data-driven, AI-powered products for credit unions, community banks and companies interested in embedded fintech. Its mission is to strengthen the credit union ecosystem through data-driven products that unlock growth and engage members.

“At RAI PARTNERS, we are committed to offering credit unions and financial institutions with access to user-centric fintech offerings to drive member engagement and satisfaction,” said RAI PARTNERS Co-Founder and CEO Ed Preuss. “We are proud to be working alongside Velera – an organization that holds similar values and goals – to advance credit union growth now and into the future.”

Through this partnership, RAI PARTNERS will work with Velera to offer credit unions access to its offerings, including turn down programs and portfolio acquisitions:

RAI PARTNERS’ turn down programs help credit unions accept card applicants who would otherwise be declined. Running parallel to a credit union’s existing card program, RAI PARTNERS can provide the ability for credit unions to say “yes” to more members, increasing engagement and growing revenue.

Through its portfolio acquisition suite, RAI PARTNERS works with credit unions to optimize and grow acquired credit card portfolios, enhancing products, technology, member engagement and, ultimately, overall income. This includes adding features and functionality, managing day-to-day activities and generating new data, insights and leads.

“We are pleased to partner with RAI PARTNERS to extend our services and offerings into two spaces that we believe can truly elevate a credit union’s operations and garner success,” said Velera EVP, Chief Growth Officer Brian Scott. “This partnership is just one of many ways in which Velera is acting on its commitment to delivering our credit unions with the tools they need to build deep, lasting member relationships, while driving smart service and growth.”

About Velera

Velera, formerly PSCU/Co-op Solutions, is the nation’s premier payments credit union service organization (CUSO) and an integrated financial technology solutions provider. With over four decades of industry experience and a commitment to service excellence and innovation, the company serves more than 4,000 financial institutions throughout North America, operating with velocity to help its clients keep pace with the rapid momentum of change and fuel growth in the new era of financial services. Velera leverages its expertise and resources on behalf of credit unions and their members, offering an end-to-end product portfolio that includes payment processing, fraud and risk management, data and analytics, digital banking, instant payments, strategic consulting, collections, ATM and POS networks, shared branching and 24/7/365 member support via its contact centers. For more information, visit www.velera.com.

‍About RAI PARTNERS

RAI PARTNERS is a registered CUSO that offers data-driven, artificial intelligence solutions to credit unions, community banks, and forward-thinking businesses to expand their product suite using their all-in-one fintech platform. Since their founding in 2021, they’ve partnered with many financial institutions to drive their growth, customer engagement, and service capabilities, ultimately leading to increased profitability for their partners.

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Source: Company press release.