Articles and Press Releases
eDOC Innovations to Exhibit at UCUA Annual Meeting and Convention
eDOC Innovations will be an exhibitor at the 2014 Utah’s Credit Unions Association’s Annual Meeting and Convention held March 14 – 15, 2014 at the Hilton Salt Lake City Center. Visit us at Booth #19 to learn about eDOC Innovations’ Save Green campaign.
Save Green by switching to an e-document strategy and reducing paper cost. Digital receipts, electronic forms, and mobile deposit are just some of the core image processing solutions eDOC Innovations offers. Stop by to learn more and enter our raffle for a chance to win a $100 Visa gift card!
For more information about eDOC Innovation’s core image processing solution’s visit: http://edoclogic.com.
CU*Answers Completes Deployment of New Look to CU*BASE®
West Michigan-based data processing CUSO, CU*Answers, announced it has completed the deployment of its new and improved graphics package to its flagship core processing platform, CU*BASE. The new software is currently available for all clients and was fully deployed by February 28th. The improved graphics platform underwent a rigorous beta testing phase from May to November of 2013, with over 30 credit unions volunteering to work with the software on a day-to-day basis.
CU*Answers stated the new look and feel to CU*BASE will allow credit union staff to more easily navigate through the system and has created additional “real estate” for future data fields to be added. The CU*BASE system has added several new features that benefit mouse users but still allows keyboard users to be able to navigate through the system.
CU*Answers went on to say that it is proud to offer the new look of CU*BASE to all of its core clients at no extra cost.
CU*Answers Targeted Tiered Services Dashboard Wows Clients
CU*Answers, the 100% credit union-owned, cooperative data processing CUSO announced that the Targeted Tiered Services dashboard it had released for its CU*BASE® core processing platform had been met with great excitement by its client credit unions. The system allows the credit union to score its members on a number of different criteria and place each member in a Tiered Service Level, such as Silver, Gold, and Platinum, based on the aggregated totals. With this feature in place, CU*Answers has taken these metrics and turned them into a robust dashboard that allows the client to dive deep into the data.
The dashboard allows the credit union to analyze the participation of a specific segment of its membership by Tiered Service scoring. Credit unions on the CU*Answers system can select a group of members based on a branch, member designation, gender, credit score or individual goals in Tiered Services (such as enrollment in e-statements). Where the feature really shines is in the ability to then compare this new segment with the entire membership to see how they measure up in terms of their usage in other key products and services. This new dashboard is great for testing out the credit union’s ideas on who its “best” members are and to determine a course of action for future promotions.
CU*Answers Offers Faster A2A Transfers with Magic-Wrighter Partnership
CU*Answers, a 100% credit union-owned, core data processing CUSO, has announced that through its partnership with Magic-Wrighter, credit unions utilizing its CU*BASE® data processing software can now have options of posting Account-to-Account (A2A) transactions wired to the Federal Reserve as late as 7pm Eastern.
“This is another competitive advantage for our credit unions. Working with Magic-Wrighter not only saves our credit unions money when performing transfers to and from other financial institutions, but now it can also mean that members could see those transactions as quickly as the next day,” said Scott Page, EVP of CU*Answers.
“Our commitment to our credit unions as a technology partner not only means we develop new products, but help our existing services continue to grow and become better over time, without charging additional fees to do so.”
CU*Answers Converts Kellogg Community Federal Credit Union
CU*Answers, West Michigan-based core processing CUSO, announced that Kellogg Community Federal Credit Union, Battle Creek, Michigan is now online with their core product, CU*BASE®. The Delivery Services team converted the credit union’s data on February 1, 2014 for its 34,000+ members. The project included seven databases and 21 third-party vendors. The credit unions’ 118 employees logged over 1900 hours of training in preparation for their conversion to CU*BASE.
The team has over 35 years collectively of data conversion experience and are ready to assist new and existing clients with their projects and ensure a smooth transition.
eDOC Innovations Offers a 60% Discount on Mobile RDC
eDOC Innovations is bringing owners and peers added value and goodwill! For a limited time, eDOC Innovations is offering a special promotion for credit unions who adopt our Mobile RDC platform. Take advantage of a 60% discount on our mobile deposit services through April 30th.
This limited time offer bundles required licensing and installation plus – 1,000 FREE mobile member deposits, marketing brochures, a marketing video, a call campaign, and custom branding of your credit unions’ mobile deposit app for Apple or Android smartphones.
Bret Weekes, President and CEO of eDOC Innovations, comments, “It’s time to recognize the increasing desire from members to deposit their checks electronically. While branch banking isn’t extinct, more and more members seek out mobile banking solutions when choosing a financial institution. eDOC Innovations is here to help credit union’s leverage mobile platforms to attract these members.”
For more information on Mobile RDC visit http://edoclogic.com/checklogic-mobile/.
CU*Answers Call Report Tool Helps Clients Avoid Stringent NCUA Penalties
Since 2009, CU*Answers has offered a software tool for credit unions to input Call Report information for direct upload to the NCUA each quarter. Based on recently revised penalties imposed by the NCUA for late filers, it is becoming increasingly important to take advantage of tools to help with this quarterly task.
Jim Vilker, VP of Professional Services and head of the CU*Answers compliance division, stated “The regulation refers to unintentional vs. intentional fines that can either be $2,000/day, $20,000/day, or $1 million dollars (or 1% or total assets). Clients have one of the most powerful tools to complete their 5300 in record time, right in the CU*BASE® core system. Using the 5300 Call Report tool allows clients to automatically populate most Account Codes by gathering information already in their database (general ledger balances, etc.) and automates the upload function to NCUA. The tool also calculates Financial Performance Report (FPR) ratios that are available for trending and will give future reporting functionality relating to core ERM processes.”
CU*Answers to Host Mid-Year CEO School
West Michigan-based cooperative CUSO, CU*Answers, has announced that its Mid-Year CEO School event will be held March 19 at the company’s headquarters in Grand Rapids. The one day event will be taught by Randy Karnes, CU*Answers CEO, who will share management insights and CU*BASE® expertise in a classroom setting. Covered will be how CU*BASE dashboards and analysis tools can be used interactively during presentations, how they can be the cornerstone of a tracking a business plan throughout the year with the credit union’s management team, and how these tools can be used to identify opportunity. CU*Answers added that although the event is called “CEO School,” it is open to other key leaders within the credit union.
CU*Answers Announces Upcoming Software Release
CU*Answers, the 100% credit union-owned core data processor, recently announced that it will be releasing version 13.5 for its core processing platform CU*BASE® in March. The upgrade, which is offered free of charge to all in-house and online credit unions on the system, includes a variety of enhancements to CU*BASE and It’s Me 247 Online Banking. The star of the show is the ability for credit unions to automate the upload of Currency Transaction Reports to FinCEN. Rather than monitor CTRs within the system and then re-keying all the information on the FinCEN website, participating credit unions will be able to mark their CTRs as ready for transmission and CU*Answers will process them.
Scott Page, EVP said, “Even though we’re in the middle of two massive projects for our software—one to give CU*BASE a new look and one to allow balances as large as $999 million—we haven’t stopped innovation at CU*Answers. We’re still developing new features for our credit unions, and continuing not to charge for a single release.” Online credit unions will receive the 13.5 release March 9, with in-house credit unions getting the release on either the 10th or 11th of the month.
CU*Answers Catches the Wave
CU*Answers, the 100% credit union-owned, data processor headquartered in Grand Rapids, Michigan may not know everything there is to know about surfing, but CUSO experts are confident they can help credit unions have success in CUNA’s “Catch the $ave Wave™” National Credit Union Youth Week™. Credit unions will celebrate youth in April by encouraging kids to set up savings accounts and learn how to manage money.
Julie Gessner, sales administrator and marketing expert says, “There are a few basic tools in the CU*BASE® core platform to help credit unions achieve the goals of the youth week: data mining tools to identify the target member group, Member Connect to communicate with the group, and Cross Sales/Next Suggested Product to promote internally and track your progress.”
By using “Know Your Member” dashboards, credit unions can analyze activity based on age and drill down further based on product usage to create the target audience. Using the Member Connect features allows the credit union to then contact their audience in just a few clicks. The tool can be used to send an email message, online banking message, set up trackers for a telemarketing campaign, and even print labels for a mailing. Finally, the Next Suggested Product and Cross Sales tools available within CU*BASE make it easy to manage the relationships cultivated with the young members.
CU*Answers Saves its Credit Unions over $180,000 with Free FraudNet Services
CU*Answers, the 100% credit union-owned CUSO, provides FraudNet service to all of its credit unions using EasyPay bill payment powered by Fiserv at no cost. FraudNet is a centralized fraud detection and integrated case management system that scores each online bill payment and halts the processing of suspicious transactions until they have been reviewed by fraud specialists. The sophisticated FraudNet engine leverages advanced algorithms and proprietary negative file history, making it extremely accurate in detecting fraudulent transactions before they are processed. When a suspicious transaction is identified, CU*Answers contacts the credit union to determine if it is of concern. At that time, the credit union can determine whether to release or stop the payment based on internal procedures.
Jim Vilker, Vice President of Professional Services, Audit Link said, “Since its initial offering in March of 2013, the free service has saved CU*Answers credit unions over $180,000 from fraudulent transactions.”
Said Scott Page, EVP of CU*Answers, “Unlike much of the cooperation we see in the marketplace, which generally has no material impact on the credit union’s bottom line, we feel that working with our member-owners to provide this service was a prime example of the true power of cooperation. We uncovered over $20,000 of suspicious transactions in just the second day of testing. This will be a tremendous asset for our network of credit unions.”
CUSO Helps Self-Processors Put DR Investments to the Test
Over the past ninety days, CU*Answers, Inc., a Grand Rapids, Michigan-based cooperative CUSO, has helped four credit unions perform planned rollovers to backup servers as part of their overall business resiliency strategy. Each credit union utilizes the CUSO’s CU*BASE® core data processing suite in an in-house deployment. During the test, each credit union switched from its production core server to its redundant high availability server for one to three days, a period that was long enough to ensure thorough testing of their disaster recovery and business resumption processes. Following testing, production was rolled back to its original state seamlessly.
“We strongly encourage each of our self-processing credit unions to perform production rollover tests on an annual basis,” said Jody Karnes, Chief Information Officer at CU*Answers. “These tests allow both the credit union and our support team to do a thorough assessment of the process and plug any gaps that are identified. We apply what we learn managing our online environment for more than 180 credit unions so that our in-house owners are able to leverage within their own data centers.”
Ms. Karnes concluded by saying, “The one thing we have learned by doing multiple annual tests for our online business is that disaster recovery planning is a journey. We learn something new with every project, and sharing those experiences with our in-house customer-owners helps them prepare effectively for an unplanned outage.”
CU*Answers and its self-processing credit unions operate on IBM POWER® servers running the IBM i operating system, the most widely deployed platform in the banking world.
eDOC Innovations Announces Annual Leadership Meeting
Join eDOC Innovations at its Annual Leadership Meeting and Strategy Session in Boston, MA, May 14 -15, 2014. Learn how to build a digital culture at your credit union, discover the tools you need to keep your members mobile and navigate your existing workflow to reduce your carbon footprint. During this collaborative peer conference, eDOC Innovations also will host a live education session about our core image processing solutions and cooperative vision.
Registration is open to all credit union peers. Registration information and enrollment for the event can be found by visiting: http://edoclogic.com/alm2014/.
United Advantage NW Federal Credit Union is Building Efficiency
United Advantage NW Federal Credit Union, based in Portland, Oregon, is enhancing credit union efficiency with ProDOC Packages™ from eDOC Innovations. ProDOC Packages™ is a workflow management tool for electronically packaging transactions for automated signing and delivery.
Transactions such as loans, new accounts, membership applications and other transaction types are created electronically and completed with both in branch and online signature processing. With ProDOC Packages members have the ability to complete paperless transactions anywhere, anytime via a web browser.
For more information on ProDOC Packages visit: http://edoclogic.com
CEOs Benefit from Platform Analysis
Executives face a number of challenges to meet the operational needs of their credit unions. Among others, one of the challenges is to easily retrieve information that is current and relevant at the same time as presenting that information to various audiences each day. CU*Answers, the 100% credit union-owned cooperative data processing CUSO headquartered in Grand Rapids, Michigan, has responded to this need with its CU*BASE Leadership Dashboards.
CU*Answers Sales Administrator and experienced trainer for CU*BASE® marketing tools, Julie Gessner, says, “Dashboards provide a window on your credit union’s day-to-day operations. These are tools every credit union leader should know about.” Gessner goes on to say, “In addition to operational aspects of the credit union, dashboards provide a robust graphical tool to help clarify the message and give it punch.” In addition to ease of use and the high quality presentation features, dashboards have accessibility to member communication tools, giving CU*BASE a technological advantage for a variety of credit union associates including lending and marketing personnel.
Visit CU*Answers online for more information on CU*Answers and the CU*BASE Leadership Dashboard and CU*BASE Management Dashboard series or contact a member of the CU*Answers Client Service and Education team.