Teachers Federal Credit Union partners Corridor Platforms for credit decisioning tech
Teachers Federal Credit Union has partnered with Corridor Platforms, a software start-up based in New Jersey, USA, to enhance its decision management and credit risk capabilities.
Teachers FCU partners Corridor Platforms
The partnership will see the New-York based credit union adopt Corridor Platforms’ digital decisioning platform, which uses generative AI and deep learning models to sift through large sets of data to streamline and automate the credit decisioning process.
Claiming $9.7 billion in assets, Teachers currently supports around 460,000 members with savings accounts, investment and insurance products, credit cards, mortgages and other financial services through online banking and its 5,400 service centres.
Suresh Renganathan, chief technology officer at Teachers, says the deal with Corridor Platforms “drives cost effectiveness through the automation of analytics, reporting and real-time decision making”, aided in part by the credit union’s “rich internal data resources”.
“Our partnership is poised to unlock the full potential of Teachers’ data, driving valuable insights and offering highly personalised experiences,” adds Manish Gupta, CEO of Corridor Platforms.
Corridor Platforms, founded in 2017, previously partnered with its investors EXL Service and Oliver Wyman to launch a “Decisioning-as-a-Service” offering in 2022.
