COOs are continually seeking these four things:
- Improved member service
- Improved processes
- Improved efficiency
- Engaged staff
To accomplish these goals they require new software, tools, applications, employee interfaces and a continual stream of real-time member information and channel reporting. These tools and applications typically require integration into core or vendor to vendor.
Here is what we know…
These new tools and applications are put into a development queue with the vendor, core processor and/or IT. In fact often all three of these parties involved in implanting and integrating new systems and software are involved and the queue line is very long. We know it doesn’t have to be that way. It is only that way because a single standard of integration has not been developed. Yes, it is that simple.
Now fast forward…
When there is a standard for these implementations and integrations, the queues don’t go away but the wait grows shorter. Because with a standard every integration requires less professional services effort; this equals less time and less cost. Not only do the queue’s get shorter but because the cost is reduced IT can afford to do more integration each year – less cost, few resources and faster to market – a win-win-win.
The future is being created now…
This solution is now available. It is called CUFX Standards. CUFX is creating certified standards so when vendor A wants to integrate into Core B or Vendor D, there is a proven way to do that integration without the total dependency on custom work and professional services expenses. Your IT department could save 75% or more for this integration work. Your credit union could use this savings for positive impact on the expense ratio and/or provide enhanced services and access for your members and staff.
Yes, there is a way using CUFX that credit unions and vendors can save thousands of hours and millions of dollars integrating new or upgrading existing solutions. The COO gets the tools, software and applications he/she wants faster and at less cost.
To learn about CUFX Standards visit the website at www.cufxstandards.com or just call or email me. We can help you help your credit union while you help other credit unions improve the cost of solution integrations and improve your to market. That’s the CUFX promise to credit unions everywhere.