CO-OP’S ‘SPRINGBOARD’ BUSINESS INTELLIGENCE APPLICATION ENHANCED FOR ITS TENTH BIRTHDAY

by PaymentsJournal 0

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New Features Lead to Greater Security and Faster, More Complete Insights

RANCHO CUCAMONGA, Calif. – Springboard, CO-OP Financial Services’ proprietary credit card servicing application enabling credit union staff access to member card data in real time, is realizing new potential in its latest edition, rolling out to credit unions this month.

“Our approach to technology is always iterative and user-focused,” said Shazia Manus, Chief Product and Strategy Officer for CO-OP. “Springboard is an excellent illustration of this approach given the product team’s continuous improvement of the platform. Importantly, innovation isn’t deployed simply for innovation’s sake. Every new feature is built into Springboard to solve a specific member problem or improve a specific member experience.”

According to Manus, Springboard is the only application of its kind available to credit unions. Distinct features designed specifically for both frontline and operations staff differentiate it from similar products on the market. “The functionality is truly expansive, and growing with each new iteration,” she said. “Every card operation, from call center to portfolio management, can be managed through a single interface seamlessly.”

14th Edition Springboard Enhancements

First introduced in 2007, the newest version of Springboard is the 14th Edition, offering several new security-focused features. The addition of a security token ensures a higher level of protection for credit unions and their members. An invalid address indicator will help frontline and operations staff more quickly identify calls from fraudsters. And, a new Executive Fraud Report, available to select Springboard users, will provide a monthly snapshot of key fraud metrics specific to the credit union.

Other features will streamline access to data intelligence for both credit union staff and members. Multiple accounts will be accessible from one screen, creating a unified experience for users. In addition, a new CO-OP Shared Branch Management Report, available to select Springboard users, will produce better insights to help credit unions participating in the nation’s second largest branch network make more informed decisions. It will communicate how members are using shared branching services, reporting on things like top branch locations, top transactions initiated and average dollar amounts.

Ten Years of Springboard

“In 2007, many credit union call centers were still using legacy 3270 green screens to support cardholders,” said Manus. “Credit unions were not alone. Despite exponential advancement in computer displays, networks connectivity and processing power, the 1970s green-screen continued to hang on as a dominant protocol in many software programs. Beyond a bad user experience, such a system limited credit union access to information that members expected them to have at their fingertips.

“Credit unions had a hard time living up to their member-first promises because the technology tied their hands,” said Manus. “Without fast, clear access to member information, they couldn’t provide the knowledgeable, personalized service members were beginning to demand. Disparate systems made it difficult to have a complete view of the member’s relationship. Simple questions took too long to answer. Training for new employees was onerous and time-intensive.”

Springboard became the answer to this problem. Initially, the application was created to make the most common tasks much simpler and more unified. The application was developed by card processor TMG, which was acquired by CO-OP Financial Services in April 2017. “Our developers started out with a small subset of functionality,” said Manus. “Over the years, we have continued to incrementally add new features and functionality by co-creating with our credit union partners.”

Springboard began as a user interface to help credit unions better access data and business intelligence from big box, third-party platform processing systems, like those managed by First Data, a long-time CO-OP Financial Services partner. Subsequent iterations, which included role-based permissions, allowed credit unions to define which employees would have access to which accounts and which data sets.

Among the more significant milestones Springboard achieved was integration with a formerly disparate reporting application known as The Vault. This enhancement brought both standard and dynamic reports into the Springboard system.

“To enable the Vault integration, Springboard was essentially re-architected, which opened the door to bringing in even more functionality,” said Manus. “This included enhancements that allowed Springboard to recognize accounts from other third-party providers, which gave call center reps even more information to help the member.”

For more information, visit www.co-opfs.org.

About CO-OP Financial Services

CO-OP Financial Services is a payments and financial technology company whose mission is ensuring the success of the credit union movement. CO-OP payments solutions, engagement services and strategic counsel help credit unions optimize member experiences to consistently provide seamless, personalized multi-channel offerings, while delivering secure, sophisticated fraud mitigation service. For more information, visit www.co-opfs.org.