CU NextGen Partners with MSU Federal Credit Union and Reseda Group to Develop Emergent Digital Banking Platform
As credit unions balance their mission to serve people with the need to make strides in an increasingly competitive financial services industry, CU NextGen is continuously innovating to help credit unions overcome challenges and enhance service experience. In its latest move, CU NextGen, a CUSO providing technology and automation solutions, has announced the ongoing development of a new venture, Nextly, a cutting-edge digital banking platform designed for credit unions.
“As MSUFCU evaluated what was next for our digital banking platforms, we knew that control, customization, and flexibility were at the heart of what we needed to maintain our current unique member experience, and set us up for innovation as we go forward,” explained Ben Maxim, VP of Digital Strategy and Innovation at MSUFCU and CTO at Reseda Group. “We’ve been working with CU NextGen for the past several years and knew that together we could build a digital banking solution that would meet our goals for our members and employees, but also change the way credit unions think about digital banking.”
Along with providing their expertise in online and mobile banking development, MSUFCU is helping support the Nextly project through a $4.5 million investment from their wholly-owned CUSO, Reseda Group. Reseda Group believes in building better for members and Nextly will provide just that, a platform that provides access and control for credit unions while creating a superior experience for members.
Nextly will have the ability to function as a standalone solution and integrate seamlessly with all of CU NextGen’s solutions. The platform’s perceptive and responsive design will enhance member experience with account aggregation, intelligent voice and chatbot technology, voice and video calls and innovative support options. Featured self-service opportunities include fully supported card control, loan management options, Docu-Sign support and other features. Integrating out-of-the-box conversational artificial intelligence, chatbot and member interactions, Nextly will also provide full support for commercial and business digital banking as well as integrated loan and account openings.
A highly customizable solution, Nextly is architected on CU NextGen’s No-Code platform, and is designed to reduce vendor reliance for customizations and make platform management intuitive and easy for credit unions. Through the No-Code platform, Nextly will enable credit unions to reduce downtime and avoid high-risk code pushes, as well as increase their speed to market for innovation on their digital banking platform. Its drag-and-dop interface will simplify the process of creating new enhancements and updating forms. Additionally, Nextly’s mobile platform will offer a feature set identical to its desktop platform for ideal feature parity and consistent user experience.
According to Kent Zimmer CU NextGen CEO, Nextly will offer both credit unions and their members with a robust feature set that’s easy to use. “Of course, technology should enhance functionality, whether for the member, the credit union or both – but that’s simply not enough. We design our technology to go beyond enhancing the user experience to guide the user through tasks intuitively, so that the user doesn’t even have to think about it. What the user should remember after using Nextly will not be the process of using technology, but rather what they were able to accomplish so easily. That’s what we’re designing Nextly to do. It’s something that we’re really excited about, and we’re looking forward to sharing our excitement with the credit union industry.”
About CU NextGen
CU NextGen is the CUSO dedicated to bringing next-generation technology to credit unions, helping them improve the service delivered to their members, the daily experiences of their staff members, and the efficiency of their operations. CU NextGen is a partnership between Members Development Company, a consortium of nearly 70 large and future-focused credit unions, and ClaySys Technologies, a technology company with leading products in the no-code application development, robotic process automation (RPA), and artificial intelligence spaces. Using these technologies, CU NextGen has built several cutting-edge solutions, including the premier Member Relationship Management platform which includes CRM, RPA, Apps & Workflows, Knowledgebase, Chatbot, and Ticketing. Additional solutions include video banking and conversational AI, among others. CU NextGen builds on the work these two innovators have implemented within MDC’s collaborative network of progressive credit unions and represents our shared strategic initiative to deliver next-gen technology beyond the MDC network to credit unions across North America.
About MSU Federal Credit Union
Founded in 1937, MSUFCU has a national reputation for excellence and has received several top industry and workplace awards, including being named a Best Credit Union to Work For by American Banker for the fifth year, a Top Workplace by the Detroit Free Press for 11 consecutive years, a National Best and Brightest Companies to Work For winner for six consecutive years, and was named one of the top five Michigan credit unions on Forbes’ Best-in-State Credit Unions 2021 list. MSUFCU was named a Best Workplace in Financial Services and Insurance by Fortune Magazine for two consecutive years and has been certified as a Great Place to Work for nine consecutive years. MSUFCU has been recognized by the Credit Union National Association, earning first place for the people-helping-people philosophy 2020 Louise Herring Award. MSUFCU is headquartered in East Lansing, Mich., has 22 branches, over 320,000 members, more than $6.6 billion in assets, and nearly 1,000 employees. For more information, visit msufcu.org.
About Reseda Group
Reseda Group helps credit unions remain relevant and competitive by delivering the best products and services to their employees and member-owners. Driven by our shared goal of building better for members, Reseda Group invests in strategic partners that will bring new technology, digital resources, and credit union industry solutions to market. Reseda Group is a wholly owned Credit Union Service Organization (CUSO) of MSU Federal Credit Union.