Let's welcome FedComp as a Gold sponsor this year in Denver, CO. September 28 -October 1st, 2016.
Assisting “Small Entity” Credit Unions Keep their Doors Open
FedComp accepts the challenge once again to keep “small
entity” Credit Unions from being swallowed up by the big boys and ceasing to
exist.
Fairfax, VA. (22 January 2016) – Three years ago on January
17, 2013 Credit Union Times carried a story entitled “FedComp Keeps Light on
for Small Credit Union”.
And now, again FedComp is showing “small entity” credit
unions how to “keep their doors open” by providing a cost efficient solution to
entry to the mobile financial age with its visionary Mobility Suite of Solutions.
This set of suites, from entry to advance, allows credit
unions to choose the type of member services they wish to offer; from the
“Mobile Data Solution” entry suite to the full range of the services found in
the “Mobile Business Solution” suite.
The first two entry Suites, “Mobile Data” and “Mobile
Banking”, includes security features that are “Best-In-Class” and will stand
with the billion dollar financial institutions. FedComp’s data security even
meets the new FFIEC requirements (November 10, 2015), which some larger
financial institutions have yet to deploy.
In the 4th quarter of 2015, FedComp completed moving all of
its hosted credit unions to OGO’s Community Cloud Platform (a CUSO). This has
enabled FedComp to offer the Mobile Data Solutions as a cost effective data
storage system utilizing the advantages of a cloud platform. FedComp is able to
provide its hosted clients a full range of security services, including:
- State-of-the-art IT resources with end-to-end security
- Offsite data security
- Data redundancy
- Anywhere any time 24/7 disaster recovery
- NCUA compliance reporting
FedComp’s new Mobility Suite of Solutions is scalable,
offsite, and is auditable. Each individual credit union data set is isolated
specific, either logically or virtually, within the cloud platform and is
locked down to meet SSAE 16, SOS 2, NCUA and other data security standards.
Another benefit given to credit unions when they are users
of FedComp’s Mobility Suite of Solutions offered by MoadBus is the ability to
offer a Mobile Banking app to their members equal to apps by large Wall Street
banks. FedComp’s mobile banking app, is an integrated part of its core data
system, not an add-on. FedComp is offering its credit union “World-Class”
security in its Mobile Banking app. The app incorporate advanced user
authentication, devise and transaction verification (one-time password (OTP),
voice, facial recognition and finger print) and provides end-to-end security
using multi-layer encryption.
As noted by FedComp’s CEO, Mr. Duff, in 2013 “FedComp can
help credit unions stay on the cutting edge of technology”. The Mobility Suite
of Solutions is the application of today’s cutting edge cloud-hosted mobile
technology to assist “small entity” credit unions in meeting the challengers of
survival in the current environment of greater and greater competition and
regulations. The Mobility Suites of Solutions was designed to allow the credit
unions to “pay-as-needed” for the features they desire. It is intended to
assist the credit union’s CEO to better utilize their limited resources by
assigning certain tasks to FedComp rather than handling them in-house. When a
credit union is relieved of regulatory and back-office administrative tasks
they can provide better service to their members resulting in market growth,
creating new revenues.
Once again as it has for the last 30 years, FedComp is
supporting its 750 plus clients and the “small entity” credit unions in general
to keep their lights on and doors open.
For more information reach out to;
For more information reach out to;
Homer Fager
President
FedComp. Inc.
(800) 733-3266 x390
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