July Milestones Signal Growing Momentum for CO-OP and You
When I joined CO-OP a little over two years ago, among my first priorities was to talk with and listen to many of you. It was an essential part of forming my vision of what CO-OP – through our people and our clients – could achieve on behalf of the credit union industry.
At the time, I knew that fraudsters were getting more sophisticated by the day, and that it was CO-OP’s job to make sure that our clients had access to the best technology to combat fraud and protect their members. It was quickly apparent that CO-OP needed to develop a machine learning and artificial intelligence solution that we could bring to our credit unions at scale.
Developing a platform of this type is not easy and requires not only the right technology, but thoughtful leadership, collaboration and an integrated approach to delivering a solution that will work for all our clients. During the last 18 months our team has been working to develop COOPER. I’m proud to share that work is beginning to pay off – on July 25 COOPER Fraud Analyzer was successfully released into pilot production for five beta clients, kicking off with our investment in one of our most valuable assets, shared branching. This marks a major milestone in the evolution of CO-OP, and I thank our product leaders, technologists, developers and designers for their steadfast dedication to creating new innovation to fight fraud in the credit union movement.
During the next 90 days, the team will be monitoring the activity generated through COOPER, listening to feedback from our beta clients and paying close attention to the client experience journey. This will ensure the seamless rollout of COOPER Fraud Analyzer across the entire CO-OP Shared Branch Network.
Another key achievement this month is the introduction of Cardless Cash Access to our ATM Terminal Driving solution. This is another important step forward as we help you to meet the expectations of the digital consumer and enhance security. The new Cardless Cash Access feature will allow your members to withdraw cash faster and more securely at the ATM by using their phones, rather than a plastic card, to initiate and complete a transaction.
Co-Creation Councils and Roadshows
During the week of June 25, we held our second in-person Co-Creation Councils session, with more than 40 credit union leaders gathered to give a direct voice to shape CO-OP’s strategy, experience and solutions. The councils have been a great source of information and insights, and are already starting to pay dividends – the Executive Management Team took their feedback into our strategic planning session held just a few weeks later. The work done by the councils has been integral in shaping how we prioritize what we do on your behalf, and I thank the council members for playing this critical role so beneficial to all of us.
I want to also thank the great team at Elevations Credit Union, who generously hosted our July 17 CO-OP Roadshow in Boulder, Colorado. More than 80 credit unions attended, giving us the opportunity to discuss tools and insights to help them in their digital transformation. Roadshows continue over the next few months – we’ll be in Detroit (August 21) and Des Moines (August 23). At the Des Moines event, we will be offering attendees a behind-the-scenes look at CO-OP’s Des Moines and Urbandale facilities, including our contact center. I hope you can join us at one of our upcoming events extending through October.
We have made a great deal of progress together in the past two years, and we have a bright future ahead in the service of our industry as a whole, and to our members in particular. Transformation of this size and scale does not happen overnight, yet the milestones of this month alone demonstrate our growing momentum.
CO-OP Financial Services