YELLOW SPRINGS, Ohio–YS FCU here said it has selected the CU*BASE core system from CU*Answers. It plans to migrate its core in the Spring of 2018.
“Our team worked closely with Sandy (YS FCU CEO Sandra Hollenberg) and her team this past spring and summer to review how our CU*BASE suite could effectively align with their strategic plan, and we are pleased to announce that they will be joining the CUSO this coming spring,” said Scott Collins, the CUSO’s EVP of National Sales and Marketplace Relationships. “We are also excited that YS is taking advantage of the scholarship program that we offer to credit unions as part of our cooperative business philosophy. Over the first two years of that program, we will be co-investing in both tactical and strategic initiatives together as a foundation for a long-term partnership. We welcome Sandy and team to the CUSO family.”
The Spirit of CU*Answers scholarship program covers CU*BASE core data processing services at no charge for an initial two-year period. CU*Answers also works with other service providers to assist the credit union in finding affordable options, the CUSO said.
YS FCU has $20 million in assets and nearly 2,000 members.
Separately, AuditLink, the audit and compliance division of CU*Answers that has deep expertise in financial fraud, and Fortress Plus, a fraud management solution provider, said they have signed a partnership agreement to bring comprehensive software and services in the management and prevention of fraud to credit unions.
AuditLink has been in the shared execution business for nine years performing daily log management of high risk activity for over 70 credit unions nationwide. The new partnership allows AuditLink to more than double the log management services they offer and increase their compliance offering today while paving the way for more, the company said.
“Over the last few years regulatory pressure has increased dramatically relative to credit unions monitoring higher risk transactional activity,” said Jim Vilker, VP of professional services and head of AuditLink. “Although our core has great tools we have seen a spike in credit unions requesting data exchanges to fraud management platforms and what we have seen is a true lack of data governance or an omnichannel approach to fraud.”
In 2016, CU*Answers said it kicked off an initiative on finding a partner to help its analytics team get a full understanding of analytical platforms, but to take these analytics to a new level.
“We just didn’t want a partner to teach us, we wanted one that would go into business with us,” said Vilker. “We found a partner in Fortress using their Rampart components to significantly expand this business with additional fraud management tools as well as the capability to monitor for credit unions beyond the CU*Answers client base.”
For info: www.cuanswers.com