Frequently Asked Questions
What is Techsortium?
Techsortium, a Smart Funding Network, is an innovative new digital network bringing together loan originators and funders in real time. It addresses challenges now faced by many financial institutions: How to identify loan demand at a time when consumers are not physically entering financial institutions.
What was the genesis of Techsortium?
Techsortium began as an effort on the part of an innovative credit union to efficiently and effectively participate in the dramatic changes taking place in the world of loan origination as consumers increasingly choose the convenience of financing at the point of sale. Riding the wave of fintech originators, Tech CU began funding solar loans in 2016. As this asset class grew, Tech CU initiated the development of an efficient and reliable platform to manage the flow of new loans. Techsortium grew over the years as a result of this effort and is now available to the credit union community.
Who can join Techsortium?
At this time, only credit unions are being onboarded as partners.
What kind of asset classes are available on Techsortium?
We are currently offering solar loans. We hope to expand into other asset classes such as home equity lines of credit (HELOC) and auto.
Is there a minimum amount a partner must purchase?
There are some specifics around this. Please contact Ryan Behney at [email protected] or 925-549-1576 for more details.
How long has Techsortium existed?
Techsortium successfully launched November 24, 2020, with the first transaction settling on December 10, 2020.
How is Techsortium different from other participation networks?
Techsortium is run by a credit union. There are no 3rd party intermediaries, no brokers, and no fintech intermediaries.
How does Techsortium work?
Techsortium establishes a network to connect fintechs and credit unions, creating a central conduit for credit union partners to manage and grow loan acquisitions. Techsortium solves the challenge of emerging disruption in loan origination by creating a marketplace in which fintechs and funders are brought together efficiently and effectively - leveraging the strength of each for the benefit of both.
How can I find out more?
Please contact Ryan Behney at [email protected] or 925-549-1576.