CU NextGen, the Credit Union Service Organisation (CUSO) dedicated to bringing next-generation technology to credit unions, announced at the start of 2022 that it would be introducing its Nextly platform to the world's largest university-based credit union, Michigan State University Federal Credit Union (MSUFCU). “We've been working with them and their wholly-owned CUSO, Reseda Group for a number of years,” says Nicole Williams, VP of Technology at CS, “but this is taking our relationship to a new level.”
Briefly, Nextly is a highly customizable standalone solution that integrates seamlessly with all of CU NextGen’s solutions. Architected on CU NextGen's proprietary no-code platform, it offers credit unions and their members a robust feature set that’s easy to use, reduces downtime, and guides the user so intuitively that they don’t even have to think about it. “We’ve been working with CU NextGen for several years and knew that together we could build a digital banking solution that would meet our goals for our members and employees and indeed change the way credit unions think about digital banking,” says Ben Maxim, VP of Digital Strategy and Innovation at MSUFCU and CTO at Reseda Group.
This phase of the partnership started in the summer of 2021 when the companies joined forces to develop a brand new digital banking platform for MSUFCU, “It's a very mutually beneficial relationship and strategic partnership,” says Williams. “With their digital banking expertise paired with our cutting edge technology and development resources, we're producing something truly amazing. Since then we've been working daily with MSUFCU and Reseda Group to design a platform that is performance-oriented, scalable, secure, intuitive in use, visually appealing, and easy to maintain and enhance for other Credit Union adopters too.”
In a collaborative effort as large and complex as this communication and planning are essential. “We found repeatedly from the beginning that being on the same page with the partner is also important, since the scope of this initiative is just so incredibly large. There's a lot of tentacles that reach out into other systems and other impacts as well, so deciding where to start was rather overwhelming because everyone involved wanted Nextly to be the best-of-breed digital banking platform.” says Williams.
MSUFCU is helping support the Nextly project through a $4.5 million investment from Reseda Group. Nextly will provide a platform that provides access and control for credit unions while creating a superior experience for members. In a sector not noted for its digital sophistication, but working tirelessly to rectify this and provide the seamless, intuitive and comprehensive experience that clients expect these days, MSUFCU in partnership with CU NextGen is out in the lead, and is sure to be followed by many more credit unions in adopting the Nextly banking platform.