A mini tech roundup finds new payment alliances for CO-OP Financial Services and PSCU, and new mobile loan origination and cloud systems from Baker-Hill among the recent announcements.
Rancho Cucamonga, Calif.-based CO-OP and FedComp are partnering to offer CO-OP electronic payment services and shared branching to FedComp’s core-processing credit union clients.
FedComp provides core processing software, outsourcing resources and internet solutions. CO-OP offers the CO-OP ATM network, signature and PIN debit and in-house credit processing, terminal driving services, and CO-OP Shared Branching. Under the agreement, FedComp clients will be able to buy these CO-OP services much less expensively than they could on their own or with other vendors.
“CO-OP’s approach is to ensure credit unions have solutions that are everywhere and every way a member would want to engage with their financial institution, and that those solutions are both secure and seamless. In this way, we help credit unions maximize revenue opportunities, especially for card transaction interchange, and attain or remain top-of-wallet.” Todd Clark, President/CEO of CO-OP, said.
“FedComp is partnering with CO-OP to help ensure our credit unions have access to the industry’s best-in-class solutions for electronic payment services,” Anna Duff, Chief Operating Officer of FedComp, based in Fairfax, Virginia said.
Albuquerque-based Credit Union Association of New Mexico announced a partnership with St. Petersburg, Fla.-based PSCU to augment support for the association’s 42 credit unions. Under terms of the agreement, PSCU will provide credit, debit and bill pay processing and 24/7/365 contact center support for CUANM¹s credit union members.
“This partnership with PSCU allows us to provide a more robust offering of the products and services our credit unions’ members use every day.”Paul Stull, president & CEO of the Association, said.
PSCU pointed out by leveraging its scale and buying power, it helps credit unions of all sizes compete more effectively in their respective markets. Benefits of the partnership include increased functionality, access to new payment technologies like EMV and digital and mobile wallets, and operational cost savings.
“As the nation’s leading CUSO, we have a depth of resources and knowledge that we leverage on behalf of our partners,” Chuck Fagan, PSCU President & CEO said. “We are confident this will enable us to collaborate with the Credit Union Association of New Mexico and its credit union members to help them grow and better serve their members.”
This agreement with the CUANM is the fifth such partnership PSCU has established with credit union leagues and associations across the country. Previous agreements include the Cooperative Credit Union Association, the Credit Union League of Connecticut, the Pennsylvania Credit Union Association and the Indiana Credit Union League.
Carmel, Ind.-based Baker Hill, announced Baker Hill NextGen, a unified, mobile responsive, SaaS platform, which combines several Baker Hill solutions into one common loan origination, portfolio risk management and decision support system.
“Today’s financial institutions face a number of critical challenges, including a constantly changing economic environment, increased competition, shifting client expectations and growing regulatory requirements,” Naseer Nasim, CEO of Baker Hill said. “We invested in the development of Baker Hill NextGen to help financial institutions compete and win, as the solution offers users mobility, ease of use, improved processes through workflow automation, and the ability to quickly evaluate and monitor the entire institution’s performance.”
The Indiana firm also revealed it now delivers enhanced data security, scalability and compliance support for financial institutions through Microsoft Azure, a growing collection of integrated cloud services with a variety of offerings, including analytics, computing, database, mobile, networking and web services.
“By utilizing Microsoft Azure, we provide our customers with the tools needed to manage and use data in a secure, scalable way that delivers meaningful value to the institution,” Niles Bay, chief operating officer, Baker Hill said.
“Cloud-based solutions continue to gain momentum in the marketplace,” said Ryan McGee, director, security product marketing, Microsoft Corp. “Companies like Baker Hill are using Microsoft Azure to manage and secure large volumes of data, helping customers ensure compliance, scale for growth and gain new insights from data to achieve their business objectives.”
