Lending is the primary revenue generator in a credit union. To be an expert at generating this revenue, lenders have the following needs and more: A loan origination system that works seamlessly for the member Smooth handoffs throughout the lending process to underwriters, processors, and funders Ability to monitor and act on delinquencies Ability to…

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Although this may seem like an exaggeration, it is extremely hard and costly for a vendor to connect to the core provider. Credit unions are also frustrated by these challenges because they prevent or at best slow down the credit union’s ability to provide their members the best products, services or applications. This slowing down…

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The efficiencies and speed to market are realized when credit unions, core providers and vendors agree to a standard for integrations. Most credit unions have their focus on expense control and organizational efficiencies. Also vendors and core providers know any operating efficiencies credit unions realize will result in more sales and faster implementations of products…

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Fifty-four third party integrations to core; what does this number mean? This number represents: 54 separate IT projects that include hours upon hours of IT resources 54 separate contacts for professional services and the related costs 54 different technologies that may have to be updated or tested with every core or system update 54 times…

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Its no secret, credit unions are spending millions of dollars every year integrating technologies. These integrations happen vendor to core and vendor to vendor. It seems an unavoidable cost of doing business. But is it? The CUNA Technology Council launched a cooperative initiative with council members and credit union vendors to solve this expensive problem.…

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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…

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CUFX Standards is a cooperative effort of credit unions and vendors developing uniform standards of integration that are core and vendor agnostic and at little or no cost to credit union. The goal of CUFX is to provide a way that credit unions, large and small can integrate technologies more quickly and at less cost.…

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