Participation in the Credit Union Financial Exchange (CUFX) effort has surged in the past year.
CUFX has grown from a handful of participants to more than 200 team members, including industry leaders from credit unions, core processors, application providers, and payments providers.
The group has completed two major specification releases and is working on a third. Its Personal Finance Management Specification is in production with a credit union, core processor, and payment provider. New member application specifications should be implemented within three months.
The organization’s working groups are focused on delivering the third release of CUFX specifications to support online banking, mobile banking, and interactive voice response. This release will create standards that will fast-track the abilities of credit unions, core systems providers, and other vendors to create an integrated online and mobile experience for members.
For more information, or to participate in a pilot, visit cufxstandards.com.