1st Community Federal Credit Union invests in data analytics CUSO, OnApproach
MINNEAPOLIS, MN (August 3, 2017) — OnApproach (www.onapproach.com), the leading provider of Big Data and Analytics for credit unions, is excited to announce 1st Community Federal Credit Union of San Angelo, TX has invested in OnApproach, a Credit Union Service Organization (CUSO). In addition to investing, 1st Community Federal Credit Union had also selected OnApproach as its Big Data/Analytics Provider in May of 2017.
Bill Nikolauk, CEO, 1st Community Federal Credit Union, stated, “OnApproach’s vision for the financial services industry is revolutionary and provides a very bright opportunity for not only 1st Community Federal Credit Union, but the credit union movement as a whole. Credit unions are built on collaborative principles, and collaborative data analytics is the next major step the industry must strive for so we can improve decision-making through data. Therefore, we are proud to be supporting OnApproach in their efforts to provide a standardized enterprise analytics solution to credit unions.”
Credit unions are facing significant challenges in the form of fintech startups, disruption, digitization, and evolving member expectations. It is vital for credit unions to understand the role of data and analytics in financial services today. In order to continue to compete in this industry, credit union executives must understand the significance of analytics and creating a data-driven organization. For decades, credit unions have faced challenges, and collaborated to solve problems with solutions such as shared branching and ATM networks. Data analytics is the next major step for credit unions to continue to compete in financial services and improve member service, and again, collaboration will help credit unions to achieve advanced analytics capabilities.
As a CUSO, OnApproach is fully committed to providing credit unions with the most robust and affordable Big Data & Analytics solution. Paul Ablack, CEO of OnApproach, stated, “We appreciate the support from 1st Community Federal Credit Union. It is exciting to work with another organization that understand the value of their connected data and actively strives to ensure a bright future for credit union members.”
OnApproach is the only CUSO dedicated to credit union success through a collaborative analytics ecosystem. By providing a secure and frictionless data experience, OnApproach empowers credit unions to take full control of their own data and their own futures. We exist to serve the credit union movement with technology and expertise required for the digital transformation of the industry business model. OnApproach’s collaborative ecosystem enables communities of users, data scientists, and application developers focused on analytics innovation