ST. PAUL, Minn. – MnIPC, a wholly-owned subsidiary of the Minnesota Credit Union Network, said it has entered a strategic partnership with the W.C.U.L. Services Corp., a subsidiary of the Wisconsin Credit Union League to provide big data analytics to credit unions.
The company said that in addition to the OnApproach M360 Enterprise solution, Wisconsin credit unions will be able to now access the service bureau and hosting services provided by MnIPC.
“With the first league partnership of its kind, Wisconsin and Minnesota credit unions significantly benefit by joining the collaborative Credit Union Data Integration and Analytics Platform,” MnIPC said in a statement.
OnApproach is a CUSO that focuses on providing credit unions with the power to use data as a competitive advantage both independently and cooperatively. The company said that with OnApproach, credit unions can now harness the value of Big Data/Analytics through integration, advanced reporting, and predictive analytics. “This deeper understanding of data allows credit unions to discover vital trends in member behavior, resulting in improved financial performance, reduced risk, and enriched relationships with members,” MnIPC said.
“As a low cost-high touch technology services provider built to serve credit unions, MnIPC is excited to work with Wisconsin Credit Unions to implement M360. The cooperative model makes it possible for credit unions of any size to perform advanced analytics without incurring the traditionally high costs. This collaboration with the Wisconsin League allows credit unions in both states to benefit from the collaborative business model and the opportunity to aggregate data on a wider basis,” said John Ferstl, Vice President - Network Service Corporation, of the Minnesota Credit Union Network, in a statement.
Added Tara Krejcarek VP Strategic Partnerships-W.C.U.L. Services Corp. “We are thrilled with this partnership, because we know credit unions are sitting on a mountain of member data that could instantly, exponentially increase the amount of business that members choose to do with them instead of competitors, whether they are looking to finance a house, car, education or retirement. Through this new, strategic relationship to harness information about members’ needs, Wisconsin credit unions can connect the dots to improve service usage and become more members’ primary financial institution.”