Velocity Community Credit Union partners with OnApproach for data analytics and digital transformation
MINNEAPOLIS, MN (January 24, 2019) — OnApproach (www.onapproach.com), the leading provider of data/analytics solutions for credit unions, is excited to announce Velocity Community Credit Union (Palm Beach Gardens, FL) is the latest to join the collaborative credit union data integration and analytics ecosystem after signing an agreement to implement OnApproach M360 Enterprise.
“Data analytics is a major strategic priority in 2019 for Velocity Community Credit Union,” stated Jeff Marshall, President & CEO, Velocity Community Credit Union. “After extensively researching how to optimize our data analytics capabilities, we are excited to select OnApproach as our partner in data analytics. As our membership continues to grow, we face an increasingly important need to manage and utilize all our available data. To continue to properly serve our members, it is imperative to have a reliable single source of truth to access our member data. We look forward to leveraging the M360 data platform and the collaborative opportunities it provides.”
Velocity Community Credit Union (asset size $347 Million, core processor: Fiserv – XP2), will now have access to the collaborative analytics platform that provides standardized data, a single source of truth, and access to the collaborative CU Analytics Ecosystem. Data integration has been a daunting task for credit unions, but by implementing OnApproach M360 Enterprise, Velocity Community Credit Union can fully access core and ancillary system data seamlessly in the same system.
“Data analytics needs to be top of mind for credit unions in 2019,” said Paul Ablack, CEO, OnApproach. “Large banks and fintech companies have been heavily investing in analytics for years, creating challenges for credit unions to compete. It has been proven time and again across the industry that performing advanced analytics is too big of a task for individual credit unions to tackle on their own. Fortunately, a standardized platform and inter-organizational collaboration creates opportunities for credit unions to perform advanced analytics and thrive in the competitive future of financial services. With OnApproach M360 Enterprise, Velocity Community Credit Union gains a powerful advantage to fully access and leverage their data. We are excited to welcome Velocity Community Credit Union to the CU Analytics Ecosystem and to be a part of their data journey.”
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
About Velocity Community Credit Union
As Florida Aircraft Federal Credit Union, we received a Federal charter in 1958 to serve the financial needs of the employees and immediate family members of Pratt & Whitney Aircraft (a division of United Technologies Corporation). Renamed Velocity Community Credit Union, we opened our doors to the entire community. Now everyone who lives, works, worships, volunteers or attends school in Palm Beach County, FL can become a member.
Dennis Warzala, Chief Lending Officer