OnApproach, a credit union service organization, has launched the “Credit Union App Store,” described as an “online marketplace” for credit unions to “discover and immediately access applications designed to solve a variety of business problems, and improve data and analytical capabilities for all credit unions.”
The CU App Store, the CUSO explained, was developed because credit unions too often have to “re-invent the wheel” by building reports and dashboards that are similar across their peer groups. “This creates incredible inefficiencies throughout the industry,” the group said. “As a CUSO, OnApproach is determined to help transform the industry and ensure a healthy future for all credit unions.”
The CU App Store brings together credit unions, CUSOs and industry vendors to share the time and resource burden required to “execute high value reporting and analytics,” regardless of technology or core, OnApproach added. By using the CU App Store, credit unions can “shift their time” from report-creation to consumption and analysis of useful information.
“The launch of the CU App Store marks a major milestone in OnApproach’s vision for the credit union movement. Data analytics is imperative for the industry, but it has unfortunately proven to be a serious challenge for the majority of the credit unions to gain competency in even the first and most basic steps on the analytics journey,” OnApproach CEO Paul Ablack said in a statement. “The CU App Store finally makes it fast and easy for credit unions to search and find pre-built solutions for analytical needs. The agnostic marketplace for sharing analytics applications is a big win for the industry, the individual credit unions, and ultimately the communities they serve.”
