Co-op Solutions and Constellation Digital Partners recently announced that the two credit union service organizations have established a task force of mutual customers to speed up the integration of Co-op digital apps into Constellation’s online and mobile banking platform.
Gail Tofil, VP, Strategic Business Development, for Co-op, said:
“Partnering with Constellation and our credit union clients on this task force will accelerate smooth integration of lifestyle-banking solutions. This is about momentum in the digital space. The faster we reach our integration objectives, the sooner credit unions will reap the rewards of Co-op’s and Constellation’s investments in digital transformation.”
Leaders from Coastal Credit Union, Farmers Insurance Group FCU, Kinecta Federal Credit Union and Nusenda Credit Union are reportedly joining representatives of Co-op and Constellation on the task force.
Foremost on the list of solutions to be addressed via this working relationship is the support for card management, and the capability to reveal card data – to use the capabilities of fintech services currently on the Constellation platform.
As noted in the update, the credit unions may determine which Co-op digital payment solutions, such as P2P, bill pay and account access, will most benefit their members.
Co-op is reporedly among Constellation’s original investors and has engaged with the fintech in various capacities since its inception back in 2017.
Constellation innovates to deliver on the promise that credit unions “don’t need big bank money to afford big bank technologies.”
The task force should break down the “how” of that promise by executing solution integration plans for connecting Co-op products to Constellation’s virtual banking platform.
Dawn Sirras, SVP, Fintech Partnerships for Constellation, remarked:
“To enable banking as members have come to expect, credit unions need to bring innovation to the market faster and with a more diverse set of solutions. App diversity extends primary financial relationships by meeting members where they are across more of those sticky, everyday banking moments.”
Co-op plans to establish other task forces with various tech business partners in order to further assist the industry with meeting members’ virtual payments expectations.
“We believe strongly in listening to our clients through collaborative forums, such our client Co-Creation Councils and task forces comprising technology partners to provide the best experience for credit unions and their members. This is a real differentiator for Co-op in the market, and we will continue to dedicate resources to grow this service model.”