PLYMOUTH, Minn.–OnApproach, a provider of data integration and analytics solutions for credit unions, has formed a strategic partnership with Deep Future Analytics (DFA). This partnership adds loan risk modeling and predictive analytics applications to its ever-expanding Application Market.
"OnApproach's mission as a CUSO has been to develop an industry standard data integration platform that will provide credit unions the ability to access predictive analytics and shared analytics applications" said Paul Ablack, Founder and CEO at OnApproach. "OnApproach is partnering with application developers, like Deep Future Analytics, to provide seamless integration to the OnApproach M360 platform to make their applications even more powerful. OnApproach and its application partners are creating an unparalleled collaborative ecosystem that will give every credit union the power to compete in this new era of big data and analytics."
In partnering with Deep Future Analytics, OnApproach said it will offer four new predictive analytics applications: DFA Loan Level Analytics, DFA Portfolio Analytics, DFA Account Management Analytics, and DFA Loan Pricing. These applications provide enhanced credit risk forecasting based on product level lifecycle effects, score at origination, environment, and vintage. The models also supports portfolio stress testing based on a wide range of economic scenarios for all outputs and Allowance for Credit Loss (CECL), the company said.