Denise Stevens, SVP, Product Delivery & InnovationCredit unions often strive to offer the best-of-breed solution to their members by assembling a variety of partners and service providers. As these service companies rely on each other to present a cohesive consumer offering, integration becomes key. These efforts may include contractual relationships between competitors, single sign-on between disparate websites, real-time APIs and integration of data files. Credit union industry CIOs canbe faced with arranging and arbitrating these complex business and technical relationships for themselves.
For four decades, PSCU—a Credit Union Service Organization (CUSO)— built, owned, and governed by credit unions, has been providing payment solutions. PSCU’s APIs allow credit unions to customize the user experience, a growing trend in the industry. With complete flexibility from reliable and trusted API services, applications for members and credit union staff can be customized to deliver a unique experience with the right information, right now. Integration with real-time transactions supplements the traditional batch loads and offers members and credit union staff access to the most current data.
PSCU’s Data eXchange—a robust and powerful set of XML and web services APIs—allows credit unions and their third-party service providers to extract, read and write real-time data to/from PSCU and the systems of record represented by PSCU. The services offered include functions associated with credit and debit card information, maintenance and transactional payments. PSCU’s ‘API first’ approach allows every new product offering to be consumable in a variety of ways to suit the needs of the market.
Building on the success of Data eXchange, PSCU launched a web-based solution to help front-line credit union member service staff more efficiently resolve their members’ requests for service on accounts that reside on PSCU-hosted systems. The solution, known as QuickAssist, enables rapid access to PSCU-hosted member account data and functionality.
Virtually every service which we deliver to the market is capable of being integrated in some way
By leveraging single sign-on from the credit union’s core application, QuickAssist integrates data and systems to improve the credit union staff and member experience.
PSCU developed QuickAssist to provide single call resolution to issues and inquiries involving multiple account relationships with the credit union. QuickAssist leverages PSCU’s Data eXchange API architecture that is in use today by over 120 of PSCU’s credit unions. It enables easy single-point access to real-time credit card account data and frequently used functionality via a single sign-on from the member service screens that credit union staff routinely use.
All channels must integrate to provide a unified member experience and ensure data integrity and a consistent user experience. The core has traditionally been considered the system of record. However, reliance on APIs increases as external providers offer robust and powerful tools that allow credit unions to provide services only the largest of institutions could provide a few years ago, at a reasonable cost. Integration with these services delivers, in real-time, what could only be provided by a core system in the recent past. And the information today is no longer a day or two old. It is what members and credit union staff require at the moment.
Credit unions are increasingly looking to enter into partnerships with financial service providers who are not only providing a ‘best of breed’ service, but are also culturally and technically flexible, enabling access to an open architecture of services and data. In the right hands, these disparate services can be effectively and seamlessly integrated to provide an optimal member experience that is customized to the credit union’s specific market.