This is not just a bold statement but it is the reality in the credit union world. New technology is reinventing how you interact with members. Every project, application, product, and service innovation requires integration with your core system. Your credit union needs more and more data from your integrated systems to truly understand your business, members, and processes. So, the technical barrier must go away. It’s not just about getting the next best innovation, it’s about staying relevant in a crowded and competitive marketplace. When your members can change financial institutions with nothing more than a point and click, new tactics are necessary to keep members engaged.
Credit Union Financial Exchange (CUFX), an industry-changing initiative originally lead by the CUNA Technology Council, is the highly efficient systems integration standard that connects applications (e.g., online banking, lending, IVR) to core processing systems. CUFX can help you:
- Reduce complexity and operating expense
- Improves member experience and employee efficiency
- Increase speed of delivery of new business functions across the credit union industry
- Enable application innovation by reducing or eliminating repetitive, time-consuming customization