Bonifii

What Bonifii does

Bonifii, formerly known as CULedger, was a Credit Union Service Organization (CUSO) founded in 2017 and headquartered in Denver, Colorado, that provided blockchain-based financial technology solutions exclusively to credit unions. Its core offering, MemberPass, was a biometric identity solution purpose-built for credit unions to deliver secure, compliant, and privacy-first authentication, replacing SMS one-time passcodes with biometric verification to safeguard against account takeover fraud and social engineering scams across in-branch and digital channels. The underlying technology was blockchain-based, supporting credential exchange, information exchange, and value exchange for credit union members.

The company operated as a B2B CUSO on a subscription/recurring revenue model, generating service fees from credit union partners, with an enterprise field sales go-to-market motion. At the time of acquisition, Bonifii was connected to 70+ credit unions, providing a network of institutions on a shared authentication and exchange platform. The CUSO structure itself functioned as the primary distribution channel, with partnerships including The Digital Banking Network to expand reach.

In December 2024, Bonifii was acquired by Metallicus, a leader in blockchain technology for financial institutions, integrating MemberPass and the credit union CUSO footprint into Metallicus's broader product portfolio, which includes Metal Blockchain, Metal Dollar stablecoin, FedNow services, and other digital asset and identity offerings.

Name

Bonifii

Legal name

Bonifii

Website

https://bonifii.com

Company type

Private

Founded year

2017

Operating status

Acquired

Headcount range

1–10 employees

Short description

Bonifii was a Denver-based Credit Union Service Organization (CUSO), founded in 2017, that provided blockchain-based biometric authentication and credential exchange solutions exclusively to 70+ credit unions. Its MemberPass product was acquired by Metallicus in December 2024.

Ownership category

akta.pro rank

Product category

Credit Union Authentication Software

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Finance Services (6199)

akta.pro primary industry

Authentication (MFA/Passwordless/Biometrics) Platforms (BPAMAEAE)

akta.pro secondary industries

Verifiable Credentials & Attestations (VC issuance/verification, credential registries) (FSAPACAH), Decentralized Identity & Verifiable Credentials for Finance (DID/KYC Reuse) (FSAGAMAE)

Keywords

• Credit union technology
• Biometric authentication
• Blockchain financial services
• Digital identity verification
• Fraud prevention software

Headquarters

HQ city

Denver

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. CUSO Services to Credit Unions: Bonifii operated as a Credit Union Service Organization (CUSO) providing technology services to credit unions, generating revenue through service fees from credit union partners.

Go-to-market motion1 record

Distribution channels1 record

Core offering

Bonifii operated as a Credit Union Service Organization (CUSO) providing biometric identity and authentication technology—primarily the MemberPass® solution—to credit unions. The offering enabled secure, compliant, privacy-first member authentication across in-branch and digital channels, replacing legacy SMS one-time passcodes and reducing account takeover fraud and social engineering risk.

Product overview

Bonifii was a single-product fintech company operating as a Credit Union Service Organization (CUSO), formerly known as CULedger. The company specialized in providing credit union-focused financial technology solutions. Following its acquisition by Metallicus in December 2024, Bonifii's operations became integrated into Metallicus's broader blockchain and digital banking infrastructure for financial institutions.

Differentiator

Problem solved

Functional benefit

Brands

• MemberPass: A biometric identity solution purpose-built for credit unions to deliver secure, compliant, and privacy-first authentication.

Products and services

• MemberPass® Biometric Authentication A biometric identity and authentication solution purpose-built for credit unions, delivering secure, compliant, privacy-first member authentication across in-branch and online channels to replace SMS one-time passcodes and protect against account takeover fraud and social engineering scams.
• Bonifii CUSO Services for Credit Unions A Credit Union Service Organization (CUSO) platform providing blockchain-based financial technology solutions, including digital identity and authentication services, to credit union partners.

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Two partnerships are on record, tiered core and flagship.

• The Digital Banking NetworkcoreStrategic or Co-development Partner · 20 December 2024Bonifii established a CUSO for credit union partners on The Digital Banking Network, positioning the company to grow its influence in the credit union sector and digital banking space through strategic collaboration.
• MetallicusflagshipStrategic or Co-development Partner · 20 December 2024Metallicus acquired Bonifii (formerly CULedger), a fintech company connected to 70 credit unions, to expand its blockchain solutions for financial institutions and establish a CUSO for credit union partners on The Digital Banking Network.

Scale indicators1 record

Recent moves5 records

Expansion highlights4 records

Emerging players

• Jumio: Digital identity verification and biometric authentication provider for financial services. Comparable as an identity-focused fintech serving the same compliance and onboarding use cases Bonifii's biometric platform addresses.
• Socure: AI-driven identity verification and fraud prevention platform serving banks, credit unions, and fintechs. Comparable in delivering KYC, identity verification, and fraud prevention that overlaps with MemberPass's account-takeover prevention value proposition.

Direct peers

• DaLand CUSO: A Credit Union Service Organization explicitly named alongside Bonifii/Metallicus in the St. Cloud Financial Credit Union stablecoin launch. Operates as a CUSO serving similar credit union clients with adjacent digital asset and banking services.
• HYPR: Passwordless and biometric authentication platform purpose-built for enterprise and financial institutions. Closely comparable to MemberPass in deploying biometric/MFA authentication for regulated financial-sector customers.
• BioConnect: Biometric authentication platform serving financial services and enterprise customers. Closely comparable to MemberPass in providing biometric identity solutions for regulated financial-sector clients.

Broad incumbents

• Velera (formerly PSCU / Co-op Solutions): Large credit union industry CUSO providing digital, payments, and core processing services to thousands of credit unions. Comparable as a credit-union-focused technology and services incumbent serving the same buyer base as Bonifii.
• Jack Henry & Associates: Major core banking and digital banking technology provider to credit unions and community banks. Comparable as a broad incumbent offering authentication, digital banking, and core infrastructure to the same credit union segment.
• nCino: Cloud banking platform for credit unions, banks, and other financial institutions. Comparable in delivering digital transformation solutions — including identity and onboarding — to credit unions.
• Temenos: Global banking software provider with digital identity and authentication components. Comparable as a broad incumbent offering identity and digital banking infrastructure to financial institutions.
• Ping Identity: Identity and access management platform with MFA and authentication offerings. Comparable in providing authentication and identity infrastructure used by financial institutions for member/customer verification.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

• Xx.com/CULedger

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Bonifii