Minnesota Credit Unions Partner with OnApproach to Leverage Data Analysis and Trends for...
Tuesday, March 22, 2016
Minnesota Item Processing Corporation – ST. PAUL, Minn (March 22, 2016) – Minnesota Item Processing Corporation (MnIPC), a wholly-owned subsidiary of the Minnesota Credit Union Network, is pleased to announce a new partnership with OnApproach, a leading provider of Big Data and Analytics solutions for credit unions. Through the partnership, MnIPC will offer OnApproach solutions to clients in both hosted and service-bureau environments.
“Harnessing ‘Big Data’ for analytics is a mega trend in nearly every industry including financial services. The application of data analysis to garner insights of everyday operations, particularly for small to mid-size credit unions, can be challenging from both a budget and implementation standpoint,” said John Ferstl, Vice President of the Minnesota Credit Union Network Service Corporation.
MnIPC will be applying the cooperative model to big data through the OnApproach solutions, which will not only allow more credit unions to participate, but also offers opportunities to aggregate data for analysis on a wider basis.
“Credit Unions and financial services continue to encounter disruptive forces fueled by advances in mobility and unprecedented volumes of data. Today, the vast majority of the U.S. credit union market is well-positioned to take advantage of our infrastructure to access the full potential of Big Data through Analytics,” said Paul Ablack, CEO, OnApproach.
OnApproach has developed a technology solution that will work for any credit union, regardless of their size or system configuration. The partnership with MnIPC will bring OnApproach’s analytic solutions to more credit unions.
OnApproach is a CUSO that focuses on providing credit unions with the power to use data as a competitive advantage both independently and cooperatively. 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. www.OnApproach.Net
MnIPC has provided credit unions with a cost-effective processing facility for more than 30 years, and is a wholly-owned subsidiary of the Minnesota Credit Union Network (MNCUN). MnIPC works with credit unions across Minnesota and nationwide, providing a complete suite of processing services.