In what is a recurring feature, Finopotamus will profile interesting and intriguing tech professionals who are positively impacting the credit union industry.
For this issue, we visited with Prizeout’s Co-Founder and CTO Brendan Grove.
By W.B. King
In what was a light bulb moment, Brendan Grove, then a high school student, learned that through engineering practices he could “model reality” with physics and mathatical applications.
“From there, I didn’t care what I was modeling—CAD [computer aided design] models, algorithms, or technology,” Grove told Finopotamus. “All are trying to build and put something into the real world that either predicts what could happen or help someone complete a task.”
After graduating from Washington University (St. Louis) in 2014 with a degree in mechanical engineering, Grove, who later received a master’s degree in the same discipline from his alma mater, began his professional career. Before co-founding Prizeout in 2019, he held a handful of jobs, including serving for three years as the software engineering manager, data science, for DraftKings. The Boston-based company offers sportsbook and daily fantasy sports services.
“I think the idea of the 10x engineer and single-threaded leadership has definitely become more prominent,” Grove said when reflecting on his career to date. “It is pretty remarkable what a few, highly focused, and motivated people can accomplish. Sometimes, less is more.”
As Prizeout’s CTO, Grove said he leads by example, telling Finopotamus that he has been fortunate to have had many mentors—senior leaders to whom he owes his success.
“My former vice president of data platform at DraftKings, Elaine Milardo (now CTO at Odditt), taught me how to lead effectively, balancing genuine care with professional challenge to inspire great work,” he said. “I strive to embody her ability to show deep personal care while pushing for excellence,” he continued. “My former manager at DraftKings, Frank Lo, also challenged me to grow into a version of myself from an engineering and data skill set perspective I hadn’t known was possible.”
Products That Add Real Value
The New York City-based Prizeout has 41 financial institution (FI) clients, including credit unions, and supports 50 employees, many of whom are tech-facing. The adtech company, Grove explained, optimizes money flow, with the goal of putting money back into consumers’ pockets.
In 2023, the fintech partnered with nine credit unions to form a CUSO, which is managed by the Washington, D.C.-based Callahan & Associates. The CUSO, he added, is inclusive and forward-leaning. “I can proudly say that our entire CUSO board consists of female CEOs,” he said. “Our credit union partners are the backbone of our success, and it starts with our CUSO and the CUSO board.”
Prizeout’s CashBack+ solution is a point of pride for Grove and his team. Together, they believe its an “incredible product” that benefits credit unions and respective membership.
“It integrates with every single online banking platform, which is no small feat. It provides all credit union members cash back and gives the credit union another stream of non-interest income,” he explained. “We entered the credit union space at the perfect time, gaining enthusiastic partners across all major platforms and collaborating to create products that add real value.”
Prioritizing Members’ Needs
What also excites Grove about the credit union industry is exectuives being open to innovation. “They recognize this opportunity and are so excited to jump on it to help their members,” he noted. “Not only are they open to new technologies, but they are also eager to embrace them thoughtfully and most importantly, prioritize their members’ needs.”
When it comes to technology pursuits and adoption rates, “fragmentation” is what separates credit unions from other FIs, he offered.
“From a technology perspective, the product needs to feel seamlessly integrated within each individual credit union’s app, while also being scalable across the entire industry,
accommodating credit unions of all sizes,” he said. “It’s been an exciting challenge to tackle.”
To maintain a competitive edge, Grove believes credit unions must continue to explore partnerships with fintechs that embrace the industry ethos of “people helping people,” which, he added, results in a cooperative, member-centric approach.
“Most companies or industries say they are user centric and collaborative, but nobody holds a candle to credit unions. It means going the extra mile for every member and designing products that will delight them, even if it is harder,” Grove told Finopotamus. “That’s what members have come to expect from their credit unions. As a fintech, unless you share that belief, you won’t meet their expectations.”