GRAND RAPIDS, Mich.–CU*Answers has announced it is in the process of adding a second decision model to its core data processing system, CU*BASE. CU*Answers said it is working with Experian to build three different offerings for the network.
“With the added options we see the ability for our credit unions to put automated underwriting to work in all of their loan delivery channels, driving member service and their loan portfolio forward,” said Geoff Johnson, COO at CU*Answers.
Currently, CU*Answers has a partnership with Portfolio Defense Consulting Group, a recognized expert in consumer credit risk management and modeling, to offer credit unions on the system an automated decision model. However, as clients asked for alternative options, CU*Answers said it has responded.
“Looking at the future of credit unions in a consolidating market, I am proud to serve on a board of a cooperative that is working to create solutions and economies of scale to allow credit unions to not only thrive today but strategically chart long term paths to organizational success through technology and integrations,” said CU*Answers Board Member and CEO of FOCUS CU, Dean Wilson. “Finding opportunities to leverage the collaboration skills of the team of business designers at CU*Answers has me excited to move into the future.”
Separately, CU*Answers said as it approaches the end of its 2016 business year it is looking forward to what 2017 will bring for its core processing system, CU*BASE. Coming right on the heels of the 2014 File Expansion Project comes the next major initiative around the CU*BASE core database: the M-Up Membership Update project. M-Up is a long-term initiative to expand the CU*BASE membership database to meet the needs of a changing credit union membership, the CUSO said.
Early in 2017 the first of many M-Up projects will be released: a complete redesign of how phone and contact numbers are stored and organized. The enhancement will allow for unlimited contact numbers per member, customizable labels and comments on each number, and the ability for members to specify how each contact number should be used.
“Where FEP was about the account, including expanding balances to allow billion dollar loans, M-Up is about the member,” said Scott Page, EVP of Sales. “Credit unions have so many ways in which they interact with their members today and our software had to reflect that.”