Minneapolis, MN (November 10th, 2016) – OnApproach (www.onapproach.com), the leading provider of Big Data and Analytics for credit unions, is excited to announce Potlatch No. 1 Federal Credit Union (P1FCU) of Lewiston, ID is the latest to join the collaborative credit union data integration and analytics platform after signing an agreement to implement the OnApproach M360 Enterprise.
“Prior to a thorough revisit of OnApproach’s solution, we were prepared and almost fully committed to building our own system for data analytics. Our decision to utilize M360 will not only save significant time, money and countless headaches, but will quickly launch us into predictive analytics. We are very excited to start leveraging the M360 platform and the broader ecosystem it enables,” said Chris Loseth, CEO, P1FCU.
For more than 78 years, P1FCU (asset size: $887 Million, core processor: D+H - Ultradata) has had a mission to improve the financial lives of its members. Recently, P1FCU has been challenged by exponential data growth due to a rapidly increasing number of delivery channels and product offerings. Data silos contain valuable information, but credit unions generally are not able to easily integrate these sources and unlock the value within, which is necessary for enterprise analytics. P1FCU was prepared to build out their own custom solution, but ultimately realized the value in enterprise analytics and collaborating with the rest of the industry. At a time of unprecedented industry-wide disruption facing retail financial services, the implementation of OnApproach M360 Enterprise will put P1FCU in a position to compete and build and maintain strong relationships with members for years to come.
“We are excited to have the support of the Management team at P1FCU in choosing OnApproach M360 as their data integration platform for analytics. Our CUSO exists to strengthen the whole industry, and with the addition of P1FCU, the ecosystem continues to grow and provide improved opportunities for advanced analytics to credit unions”, said Paul Ablack, CEO, OnApproach.
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.
P1FCU, a member-owned, not-for-profit financial cooperative, has a common bond consisting of a community charter of 13 counties in Northern Idaho and Eastern Washington. We were organized by a group of 12 individuals with the desire to make lending more readily available for employees of Potlatch Forests, Inc. Over 78 years later we are staying true to our organizational values while providing services to 78,740 members in a 13 county region.