Eltropy Acquires POPi/o, Powering Credit Unions with End-to-End Digital Communications Platform

Now jointly serving over 400 Credit Unions, the acquisition marks one of the fastest fintech expansions in the market

MILPITAS, Calif., June 08, 2022 (GLOBE NEWSWIRE) — Renowned by Credit Unions for its Digital Communications capabilities, Eltropy today announced the acquisition of Video Banking leader POPi/o. The acquisition not only strengthens Eltropy’s industry-leading Digital Communications platform, but it also represents one of the fastest fintech expansions in the market. Eltropy now empowers over 400 Credit Unions with the tools they need to meet their members where they are, whether in branch or online.

“During the pandemic, Credit Unions faced the twin challenges of finding new ways to connect with their members remotely while continuing to streamline in-branch services. By joining forces with POPi/o, we’re empowering Credit Unions to build robust virtual branch capabilities and serve members anytime, anywhere, in the channel of their choice,” said Ashish Garg, Co-Founder and CEO of Eltropy. “Our world-class Digital Communications platform helps Credit Unions deliver on the promise of digital transformation—improving online and in-branch experiences for members and allowing for more rapid expansion in new markets without the need for a physical presence.”

Reinforced by POPi/o’s Video Banking and contact center technology, Eltropy offers Credit Unions a single platform for automated, AI-driven Text messaging, Video Banking, and Secure Chat, as well as chatbots, co-browsing, live observe, and screen sharing capabilities, and eVerify, eNotary, eSign, and Video Check Deposit. This powerful digital communications platform enables Credit Unions with end-to-end virtual branch capabilities, helping them build connections and deliver on the personalized service members expect. Now, Credit Unions can use Eltropy to seamlessly connect their members with staff at any of their branches—from opening an account, to originating loans, or getting instant service.

“Eltropy and POPi/o joining forces creates a tremendous opportunity for the credit union industry, positioning credit unions to leverage this best of class digital communications platform to streamline the way they engage with and serve their members,” said Barb Lowman, President of Credit Union National Association (CUNA) Strategic Services. “This path forward not only positions credit unions to drive operating efficiencies and attract and retain profitable members, it improves the member experience and makes credit unions an even more attractive alternative to banks.”

With one quarter of Americans prepared to switch financial institutions if their digital needs are not met, Credit Unions can rely on Eltropy to help them deliver exceptional, personalized experiences that make members’ lives easier no matter where they are or what service they need. By combining the best Text and Video Banking capabilities, Credit Unions benefit across every department:

• Retail Branches: Never miss the opportunity to connect with in-branch video rooms for remote lending. A Remote Online Notary and deposit/new account services also help to centralize staff at the main branch.
• Lending: Secure Text and Video offerings let members communicate in the channel of their choice, with document collection, loan status alerts, and Remote Online Notary helping to speed up the lending process.
• Contact Center: Accelerate digital transformation and member engagement through a seamless combination of AI, Text, Secure Chat, Video banking, voice, co-browsing, and screen sharing technologies. Remote member verification, video check deposit, and chatbots are also all available within the platform.
• Collections: Give members an extra level of convenience with Payment via Text, and mitigate loss by using AI to automate debt collections. Eltropy data shows Text is 40x more effective than phone calls when it comes to collections.
• Marketing: Take charge of reputation management and grow membership and loan volume with QR-codes and Text campaigns—increasing the likelihood of content consumption and five-star reviews.
• In Case of Emergency: Establish efficient communication with members and employees during weather or IT-related issues.
• Human Resources: Streamline recruitment and employee communication via Text campaigns, ensuring important information isn’t lost to an overflowing inbox.

“Throughout my career, I have been focused on the consumer experience while creating enormous value to Financial Institutions,” said Gene Pranger, Founder and Chairman of POPi/o. “Through the merger of POPi/o’s Video Banking and Eltropy’s sophisticated Digital Communications Platform, we will be able to fulfill both objectives. Now your members will enjoy seamless communication that will help them find the financial answers and solutions they need while making you the most productive FI in the markets you serve. I would invite every Credit Union senior management team to learn more about this game-changing opportunity.”

To learn more about Eltropy’s acquisition of POPi/o, please visit: http://www.eltropy.com/popio.

About Eltropy
Eltropy enables financial institutions to digitally engage in a secure and compliant way. Using our world-class digital communications platform, Credit Unions can improve operations, engagement and productivity. We are proud to be the only Credit Unions-focused omnichannel solution to offer Text, video, Secure Chat, co-browsing, screen sharing and chatbot technology — all integrated in a single platform with skill-based routing and other contact center capabilities. For more information about Eltropy, please visit https://eltropy.com.

About POPi/o
POPio Mobile Video Cloud (POPi/o) is the leader in video banking, collaboration, and contact center technology—a comprehensive mobile, web and in-branch video software solution that improves the member experience. Through two-way video communication and collaboration tools such as co-browsing, screen sharing, document signing, remote online notary, and video check deposit, banks and Credit Unions empower their sales and member service channels to conduct a broad range of personal and business interactions. For more information about POPi/o, please visit https://www.popio.com.

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