OnApproach (www.onapproach.com), the leading provider of data/analytics solutions for credit unions, is excited to announce Department of Commerce Federal Credit Union (Washington, DC) is the latest to join the collaborative Credit Union Data Integration and Analytics Ecosystem after signing an agreement to implement OnApproach M360 Enterprise.
“The Department of Commerce Federal Credit Union is excited to be partnering with OnApproach for our data analytics needs. We will use data analytics right away for three needs.” stated Evan Clark, CEO, Department of Commerce Federal Credit Union. “First, data analytics will assist us in on boarding new members and ensuring that they are taking full advantage of all of our products and services. Secondly, we will be able to identify opportunities for lending to members not readily apparent without data analytics and optimization. And finally, data analytics will assist the credit union in identifying savings, borrowing and spending patterns of our members. This will enable us to design products and promotions created for maximum appeal to our members.”
Department of Commerce Federal Credit Union (asset size: $435 Million, core processor: Symitar - Episys), like thousands of other credit unions, has collected robust data in a variety of systems. However, it has been a challenge to elicit the value and insights from this data. With M360 Enterprise, DOCFCU now has access to a standardized data platform that provides cleansed data, a single source of truth, and access to the collaborative CU Analytics Ecosystem.
“We are excited to see Department of Commerce FCU taking this step in their data analytics journey. With evolving member expectations and disruptive threats facing the industry, implementing a true enterprise analytics solution is a necessity for credit unions. By taking advantage of the collaborative analytics platform, DOCFCU will be able to efficiently launch their analytics initiatives forward. It is great to work with another forward-thinking credit union, and we look forward to helping them achieve their vision,” said Paul Ablack, CEO, OnApproach.