Strengthens digital trust, simplifies member ID verification and digital exchange
Sherpa Technologies and CULedger today announced the integration of Sherpa’s identity and document verification-provided solution, ID-Pal, into CULedger’s MemberPass™, to enable the first KYC-backed digital credential that provides credit unions a solution to verify their members’ identities. This first-of-its-kind integration of ID-Pal into MemberPass strengthens and supports the issuance of the digital credential by validating the member’s authenticity during the initial enrollment of MemberPass. It will be available for credit unions using MemberPass in the first quarter of 2021.
“ID-Pal is a compliant, end-to-end solution that offers a comprehensive and seamless ID and document verification experience,” said Sherpa Technologies’ President and CEO Keith Riddle. “The ID-Pal/MemberPass solution provides credit unions with a single experience for enhancing ID and member validation that can be applied to a variety of use cases. Additionally, Sherpa’s partnership with CULedger gives credit unions an opportunity to issue the MemberPass application and consume the digital credential through the Mosaic platform.”
Through MemberPass, a credit union member will receive a tokenized credential that is created instantly, following the ID-Pal verification process. Back-end integration between Sherpa’s Mosiac platform and CULedger ensures a seamless experience for issuing the digital credential. Credit union members use their MemberPass credentials to authenticate themselves seamlessly at any time and across any channel the credit union offers, from in-branch to mobile banking and digital onboarding.
“The solution encompassing the ID-Pal functionality embedded in the MemberPass wallet, along with Sherpa’s back-end integration capabilities, provides credit unions with the opportunity to implement a next-generation identity verification process and digital exchange for members,” said John Ainsworth, president, and CEO of CULedger. “The solution also provides meaningful improvements to the new member experience and offers a significant reduction in operational expenses for credit unions.”
Sherpa Technologies is ID-Pal’s exclusive identity verification solution partner for the U.S. credit union market and was one of the original investors in CULedger. In 2019, Sherpa and CULedger entered into a Letter of Understanding (LOU) to collaborate on the development and delivery of a streamlined, identity verification and digital identity issuance method to credit union members. “We chose to become an investor in CULedger more than a year ago due to its promise to deliver an innovative digital experience for digital identity and access to an open platform for the accelerated enablement within the credit union industry,” said Riddle.
To see how the ID-Pal/MemberPass new member enrollment process works, sign up here to attend an upcoming webinar.
About Sherpa Technologies
Sherpa Technologies is leading credit unions on a journey of digital transformation to provide integrated, seamless, and personalized member experiences. Our team’s extensive knowledge can be leveraged to complement our partner credit unions with the desired insights, so they can successfully serve their members in a dynamic digital financial marketplace. Our Mosaic Platform provides a comprehensive application development framework, integrates an ever-expanding suite of vetted solutions with credit union systems and applications, and optimizes data to drive new insights, personalization, and credit union growth. We invite you to learn more at www.sherpatech.org.
MemberPass™, powered by Denver-based credit union service organization (CUSO) CULedger, is the simplest, most secure solution to verify credit union members through leveraging touchless, privacy-enhancing technology. The MemberPass digital passport app protects credit unions and their members from identity theft and fraud with a member-friendly user experience. For more information, visit www.memberpass.com or email us at firstname.lastname@example.org.