MONARCH BEACH, Calif. (9/13/12)--CUNA Mutual Group has been ranked No. 75 on this year's InformationWeek 500--a list of the top technology innovators in the U.S. announced Tuesday.
CUNA Mutual Group also was one of eight companies honored in this year's "InformationWeek Business Innovator" Award for its Smartphone Loan technology. CUNA Mutual Group was selected by InformationWeek editors as the winner of the Revenue Generation category for this industry award.
Released in 2011, the Smartphone Loan mobile Web application helps credit union members apply for a loan anywhere they take their smartphones.
"We are very honored to be named in InformationWeek 500's Top 100 Innovative Technology Companies this year and to be awarded the prestigious InformationWeek Business Innovator Award for our Smartphone Loan Application," said Rick Roy, CUNA Mutual Group senior vice president and chief information officer. "This industry recognition illustrates our strong commitment to technology leadership and embracing mobile technology to help the credit union industry expand beyond traditional member segments, attract younger demographics, and strategically strengthen their position in the financial services arena."
The Smartphone Loan technology is the industry's first mobile Web optimization for online lending, integrated with CUNA Mutual Group's loanliner.com system. By optimizing loanliner.com for mobile, Smartphone Loan provides lending information and approvals anywhere on any mobile device, and also delivers loan applications with the most current conditional approvals and compliant electronic disclosures in less than 15 seconds.
CUNA Mutual Group has processed more than 41,000 loan applications, generating more than $400 million in mobile loan application submissions. More than 550 credit unions have implemented the Smartphone Loan technology since its debut in June 2011. (See related News Now article, "Loanliner's mobile platform--from kitchen to success.")
InformationWeek identifies and honors the nation's most innovative users of information technology with its annual 500 listing, and also tracks the technology, strategies, investments, and administrative practices of America's best-known companies.
The InformationWeek 500 rankings are unique among corporate rankings because they spotlight the power of innovation in information technology, rather than simply identifying the biggest information technology spenders.