Clutch

Clutch is a digital origination platform for credit unions, marketed under the Clutch Lending Automation System (Clutch LAS) brand. The platform covers the stages of the consumer lending and deposit journey, including consumer account opening, business account opening, loan application intake, decisioning, servicing communications and collections. Credit unions can adopt a single product or the full platform, with each module designed to build on the previous ones.

Core components include Fastlane decisioning, which uses core banking and relationship data along with a Relationship Score to automate credit decisions and instant funding; HAL, a configurable AI lending assistant that answers member questions, guides applications, and automates communication and document collection; Emma, an assistant that automates collections outreach; an omnichannel module that extends the same lending and deposit workflows to frontline branch staff; and targeted remarketing that uses automated email and SMS follow-ups to recover abandoned applications. The company positions the platform as a way for credit unions to increase lending volume and speed without adding headcount.

Business model

Clutch sells its origination and lending automation software to credit unions, which can license individual modules such as account opening, loan opening, decisioning or collections, or adopt the full platform.

Traction

The company's site references more than 150 customers and cites credit union outcomes including an 84% increase in look-to-book ratios, a 79% decrease in time to fund, 9% recovery of abandoned applications, and in-branch intake time reduced from 25 minutes to three minutes.