Microsoft is targeting credit unions with its latest solution designed with CUNA Mutual Group, and insurance and financial services company.
They announced today (Wednesday, March 21) that CUNA Mutual AdvantEdge Analytics will collaborate to develop a data analytics platform for the credit union industry.
“Working with Microsoft is a major step in our continued commitment to delivering innovation to the credit union industry and strengthening for the future,” said CUNA Mutual Group President and CEO Robert N. Trunzo in a statement emailed to PYMNTS. “We are not only addressing the changing financial needs of credit unions and their members, we are leading the way by collaborating with one of the world’s most innovative companies. This is an exciting time for our industry.”
The platform will standardize data collection and analytics to offer insight into a credit union’s operations and performance. It will deploy Microsoft’s Power BI and Dynamics 365, among other Microsoft tools, and support credit unions’ overall digital transformations, the companies said. AdvantEdge Analytics, which offers a suite of software tools for the credit union industry, will be able to expand its data models through the new solution, CUNA Mutual and Microsoft noted.
“We are excited to work with CUNA Mutual Group, combining their extensive financial services expertise with Microsoft’s expertise in business applications and analytics,” added Microsoft Business Applications Group Corporate Vice President James Phillips in another statement. “AdvantEdge Analytics provides compelling value to credit unions through their industry-focused application on top of Microsoft’s Common Data Model.”
Earlier this year, one credit union executive, Kyle Casburn, CEO and president of Seaboard Federal Credit Union, told PYMNTS’ Karen Webster that data strategies are now key to credit unions’ competitiveness in today’s market.
“Data analytics is driving us to get the right offer at the right time to the right customer,” he said. “The days of mass media and [the] blanket approach [are] long gone.”