Clutch provides a digital origination platform built exclusively for credit unions. Its suite of products aims to help these member-owned institutions compete with larger banks by offering fintech-speed services. The platform combines AI-powered assistants, automated decisioning, and digital origination tools for account opening, lending, and collections.
The company's product portfolio includes Digital Account Opening, Loan Origination, Fastlane Automated Decisioning, and Omnichannel Origination. It also offers two AI assistants: HAL, focused on lending, and Emma, for collections. Clutch works with over 150 credit union partners.
Reported scale metrics include a 50% increase in look-to-book ratios, a 40% reduction in manual reviews and identity verification spend, and a 9% recovery rate of abandoned applications. For one credit union partner, its loan origination solution was linked to a 227% increase in deposit accounts within the first week of go-live. Its automated decisioning system has reduced in-branch intake approval times from 25 minutes to 3 minutes.
