Cooperative CUSO and core data processor, CU*Answers, is getting ready to offer a product called My Virtual StrongBox to its It’s Me 247 online banking product. My Virtual StrongBox is an electronic safe deposit box where members can store electronic copies of their personal documents (e.g. wills, trusts, tax papers, mortgage documents, etc.). Embedded directly into It’s Me 247, members will be able to access their strongbox via a single sign on, without having to leave online banking.
CU*Answers first created this functionality for credit union client Element Federal Credit Union, but is offering the SSO connection to My Virtual StrongBox to all its credit unions for free. For CUs that have a relationship with My Virtual StrongBox, CU*Answers will simply flip a switch to enable the service. CU*Answers Regional Sales Representative Mike Gruber said, “These 3rd party SSO options for our credit unions help keep them more competitive in the marketplace. We do a lot of this type of development at little to no additional cost to our credit unions so that they can pass those savings on to members. Instead of paying a lot for one service, they can spread that money out to even more products.”
CU*Answers is rolling out this SSO ability to all credit union clients with its 15.0 CU*BASE® core platform release in April. Additional education and information is being offered via the My Virtual StrongBox webinar on March 11 & 18 for CU*Answers partner credit unions.