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What is CUFX?

What is CUFX?. What is CUFX?. CUFX is an open, vendor agnostic and broad integration standard designed by leading credit unions and vendors to reduce the time and cost of systems integration. What CUFX Is, What It Is Not. “CUFX is :” An integration standard

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What is CUFX?

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  1. What is CUFX?

  2. What is CUFX? CUFX is an open, vendor agnostic and broad integration standard designed by leading credit unions and vendors to reduce the time and cost of systems integration

  3. What CUFX Is, What It Is Not • “CUFXis:” • An integration standard • Transaction set, message format, communication protocol, security guidelines • Broad transaction set • Vendor and credit union agnostic • 100% controlled by credit unions • “CUFXis not:” • Software or a “middleware” solution • Proprietary

  4. CUFXObjectives Improve the member experience and help CUs rapidly innovate Design a standard to simplify application to core integration Reduce time, cost and redundant system integration efforts

  5. Problem Being Solved

  6. Current Environment= Highly InefficientEach application vendor integrates to the cores according to the individual core’s specifications and then customizes for each CU… OnlineBanking MobileBanking IVR Kiosk Lending Account Opening Teller PBX Prepaid Rewards SharedBranch JHASymitar OSI FiservAcumen FiservSpectrum FiservUSERS FidelityMiser HFSPhoenix HFSUltraData ShareOne FiservSignature EPL

  7. The banking user experience is not always positive- CUs are not keeping up with other industries

  8. Core Processors are also in an “arms race” and need to focus on product innovation- not “plumbing”

  9. The Solution

  10. A CUFX™Future Mobile Banking IVR Online Banking Kiosk Lending PBX Teller Prepaid Shared Branch Rewards JHA Symitar Fiserv Acumen Fiserv Spectrum Fiserv USERS OSI EPL HFS Phoenix HFS UltraData Share One Fiserv Signature

  11. Faster, more efficient systems integration will benefit all parties

  12. Current Status & Supporters

  13. CUFX Status • PFM live at BCU • Money Desktop to Symitar & PSCU (via a BCU CUFX interface) • New Membership App in development • Specification released for comment • Q1 2013 beta • Online, mobile banking and IVR next in line

  14. Active Credit Unions • Affinity Plus FCU • Alliant • America First CU • Baxter • BECU • Bellwether • Corning FCU • Delta Community • Ent • First Alliance • Grow Financial • Michigan State • Nassau Financial • San Antonio • San Diego County • SchoolsFirst CU • Spokane Teachers • Washington State Employees • Wescom • Virginia CU

  15. Active Technology Providers • CUNA Mutual Group • PSCU • Finivation Software • Money Desktop • Andera • Symitar • Harland FS • CO-OP Financial Services • Akcelerant Software • Malauzai • MerdianLink • LarsonAllen • Diebold • Osprey Software • Open Solutions • Wescom Resource Group

  16. CUFX Steering Committee • Heather Moshier, San Diego County CU • Jeff Johnson, Baxter CU • Chad Graves, Ent Federal CU • Kyle Welsh, Boeing Employee CU • John Best, Wescom CU • Mike Atkins, Open Technology Solutions • Brian Bodell, Finivation Software

  17. Core Advisory Group • Fiserv • Guy Russo, Community America CU • Open Solutions • Kyle Welsh, BECU • Symitar • Bill Mesplay, Delta Community CU • Harland FS • Belinda Caillouet, Spokane Teachers CU • Fidelity • Chris Saneda, Virginia CU

  18. CUFX Roadmap 2012 - 2014

  19. 2012 Goals Roll out PFM, NMA and security guidelines standards Have one CU that adopt PFM and two CUs that adopt NMA Complete governance document and business plan Showcase CUFX initiative to key constituencies through multiple events / activities Begin fundraising. Secure $250,000 in contributions / pledges by end of 2012 Identify resource needs / expenses through end of 2013

  20. 2013 Goals Refine three initial standards Roll out of standards for online banking, mobile banking, IVR and loan app standards Have 25 credit unions total adopting CUFX standards Secure $1,000,000 in contributions by Year End Addition of one or two FTEs to staff before Year End

  21. 2014 Goals Refine previously published standards Roll out mobile payments standard Have 100 credit unions total adopting CUFX standards

  22. To Accomplish this Roadmap Marketplace Advocacy Process for Development Resources Necessary Funding

  23. Support CUFX

  24. How to Support CUFX • Review and comment on current specifications • Join a Working Group (based on expertise) • Build a CUFX interface • Provide capital (see next slide) Interested? E-mail info@cufxstandards.com

  25. Financial Support Elite Founder$100,000 and Up Founder $50,000 - $99,999 Patron $25,000 - $49,999 Benefactor $10,000 - $24,999 Donor up to $9,999

  26. www.cufxstandards.com

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