Trends
RFCU cooperates with Sharetec for its core system update
OUR TAKE:This partnership signifies Regional’s commitment to modernizing its operations and enhancing services for members. Sharetec’s Velocity solution offers improved processes, security, and integration capabilities. The move follows a trend of credit unions leveraging fintech partnerships for di…
Headline
OUR TAKE:This partnership signifies Regional’s commitment to modernizing its operations and enhancing services for members. Sharetec’s Velocity solution offers improved processes, security, and integration capabilities. The move follows a trend of credit unions leveraging…
Context
OUR TAKE: This partnership signifies Regional’s commitment to modernizing its operations and enhancing services for members. Sharetec’s Velocity solution offers improved processes, security, and integration capabilities. The move follows a trend of credit unions leveraging fintech partnerships for digital transformation. — Iris Deng, BTW reporter The regional federal credit union in northwestern Indiana, USA, partnered with Sharetech for core systems processing as it looked to “support future growth and ensure stability” by updating its technology stack.
Evidence
Pending intelligence enrichment.
Analysis
RFCU has decided to cooperate with Sharetech, deploying Velocity solution from the vender to replace the credit union’s existing in-house core system. Velocity will be utilised to strengthen its back office operations and will seek to tap its open Application Programming Interface (API) for third-party fintech integrations. Founded in 1961, RFCU offers products and services including savings and current accounts, mortgages, credit cards, auto and home equity loans, investments, gift cards, and business services. Also read: Fintech revolution: Empowering retail investors in the bond market The partnership will provide a series of new digital services for Regional’s members, including recurring payments, online banking, personal financial management, and remote deposits and signatures.
Key Points
- Regional Federal Credit Union (RFCU) partners with Sharetec for core system upgrade
- Velocity solution to enhance back office operations and offer new digital services
- Reflects a broader industry trend of credit unions embracing fintech for modernization
Actions
Pending intelligence enrichment.
