American Banker Recognizes Eltropy CEO Ashish Garg as a 2023 Innovator of the Year
Eltropy, a digital conversations platform for community financial institutions, headquartered in Milpitas, CA, with offices in Lehi, Utah, announced that its co-founder and CEO Ashish Garg has been nominated as a finalist for the American Banker Innovators of the Year for 2023. This prestigious recognition highlights Garg's contributions to the financial industry and his commitment to empowering credit unions and community banks to deliver the best experience for consumers.
Garg, (pictured above with colleagues at the May 12th annual Wisconsin Credit Union League Conference in Wisconsin Dells), began his entrepreneurial journey with Eltropy as described in the American Banker article spotlighting the finalists. As the article states, after moving from India to California, he and his wife faced the challenge of having no credit history despite having high-paying jobs. However, they found a supportive credit union in Redwood City that believed in their potential and provided a loan for their first home. This experience sparked Garg's mission to create a company that would empower credit unions and community banks with digital tools to serve their members more effectively.
Indeed one of the key differentiators of Eltropy is that it has focused solely on credit unions and community banks – as they are the backbone of our communities – to ensure that everyone has access to credit to build generational wealth.
In the past year of 2022, Garg led Eltropy through a transformative period of growth and innovation. The company acquired two companies: video banking firm POPi/o and Marsview AI, a cutting-edge artificial intelligence technology provider. These strategic acquisitions further expanded Eltropy's capabilities, enabling credit unions and community banks to enhance their digital interactions and deliver exceptional customer experiences.
Eltropy welcomed nearly 300 new credit union and community bank clients in 2022, as reported by TechBuzz, bringing its total client base to a 550 institutions. That trend has continued in 2023. Alongside this growth, Eltropy has introduced many new features and capabilities to its digital conversations platforms. These include video notary services, appointment management, co-browsing, and more, empowering financial institutions to streamline operations and provide seamless and secure communication experiences to their members. Eltropy currently has over 190 employees, with the majority based in Utah.
One of Eltropy's satisfied clients, InTouch Credit Union in Plano, Texas, praised the platform's ability to bridge staffing gaps and maintain secure communication channels. Kent Lugrand, President and CEO of InTouch Credit Union, said, "The exciting part about partnering with Eltropy is the ability to shift from one communication platform to another within the same call, the same chat, the same text, seamlessly, keeping all of the authentication and security in place. I think that's going to make a big difference for us."
On May 16-18, 2023 Eltropy will be hosting its 2023 Eltropy User Conference at the Salt Lake City Marriott City Center. The conference will feature eight panels addressing topics from increasing membership, to fighting fraud, to utilizing AI to improve operations and reduce costs, to contact center efficiencies to delivering 24/7/365 service to credit union members. The panels and entire conference will include discussions and practical lessons for leaders in the financial industry.