Illuma

United States - Plano, Texas

• 11/09/2024
• Series A
• $9,000,000

Illuma is a Credit Union Service Organization (CUSO) and R&D company headquartered in Plano, Texas. We deliver real-time voice authentication and fraud prevention solutions for credit unions and community banks through our flagship product, Illuma Shield™.

Improving Caller Experience, Operational Efficiency, and Account Security

With Illuma Shield™ the authentication portion of the call is reduced by 80% or more as callers are identified by an AudioPrint™ using unique characteristics of their voice and device.

- Illuma Shield™ brings the brick-and-mortar experience to the contact center. Callers get a warm and personal interaction where they don’t have to jump through hoops to prove who they are.

- This system allows agents to reduce the part of the call that tends to cause the most frustration and delays, enabling them to help callers with their questions, concerns, and transactions faster.

- Voice biometrics are far better for fraud prevention than even the most extensive security questions. Generating a false positive that misidentifies someone other than the account holder as a match is extremely difficult.

Frictionless Authentication from the Start

Our passive voice authentication system works seamlessly in the background.

- Deployment takes weeks, not months

- More than 95% of those invited to enroll say, “Yes!”

- 100% of agents say the system is easy to use

Bringing Big Bank Technology to Community Financial Institutions on a Budget

Credit unions and community banks that want to be ahead of the curve with FinTech partner with Illuma Labs to deploy state-of-the-art technology that features the latest in voice biometrics, AI, and Machine Learning.

Illuma Shield™ has been showcased at multiple premier FinTech events such as FinovateSpring and FinovateFall and won Best in Show at VentureTech 2019. Illuma Labs is the exclusive provider for CUNA Strategic Services and has industry endorsements in 34 U.S. states.

Related People

Milind BorkarFounder

United States - Dallas-Fort Worth Metroplex

Hello, I’m Milind Borkar. As founder of Illuma, I help credit unions and other financial institutions use voice verification to reduce call handle times, increase account security, and create a warm & welcoming member experience in the contact center.


★ Why I Do What I Do ★

I love what credit unions do for our communities and it’s an honor to have the responsibility to keep members connected to their money in a safe, secure, and convenient manner. Credit unions don’t have millions to spend on voice authentication, but their members deserve just as much innovation as big banks offer.


★ State-of-the-Art FinTech Shouldn’t Be Out of Reach ★

The core of Illuma’s AI, Machine Learning, and Voice Authentication technologies were built as part of our R&D contracts with the US Department of Homeland Security. As a CUSO with credit unions as our partners and investors, we are proud to offer the first and only high-tech voice authentication product built for credit unions: Illuma Shield.


★ Why Choose Illuma Shield for the Credit Union Contact Center? ★

☛ Over 80% reduction in time spent on authentication

☛ More than 90% members say “yes” when invited to enroll

☛ 100% of contact center agents love using our system


★ What Credit Unions Say about Illuma Shield ★

“Our authentication time is 14.7 seconds now vs. 90 seconds per call. We’re seeing a measurable impact on hundreds of calls per day.” — Chris Kearney, CIO at TruWest Credit Union

“As a technologically progressive credit union, we believe voice biometrics will someday be standard in the marketplace. By implementing Illuma Shield™ early, we will be ahead of the curve.”” – Craig Stancher, Member Experience Manager at Connexus Credit Union


★ We Deliver What Credit Union Call Centers Need ★

💡 Frictionless voice authentication

💡 Fraud prevention that’s immune to social engineering

💡 Affordable price point with the right features to deliver value

💡 Fast, easy deployment (in weeks not months)

💡 Rapid ROI and a quick Digital Transformation win

💡 Highly secure and compliant cloud-based solution


Want to know more? Let’s connect.

LinkedIn https://www.linkedin.com/in/milind-borkar-4197a917/