Plymouth, MN (March 5th, 2015) – OnApproach (www.onapproach.com), the leading provider of Big Data and Analytics for credit unions, is pleased to announce TopLine Federal Credit Union (TopLine) has made a CUSO investment with OnApproach. TopLine selected OnApproach as its Big Data/Analytics provider in 2012.
The credit union industry is on the cusp of a significant challenge with the potential to disrupt the financial services landscape as we know it. Big Data/Analytics is driving a new breed of analytic competitors (e.g. - Lending Clubs, Google, Apple Pay, Amazon, Facebook, etc.) into what has been a very traditional marketplace. These new entrants are interested in skimming the profitable transaction side of the business while leaving the less profitable and highly regulated settlement side to the banks and credit unions.
As a Credit Union Service Organization (CUSO), OnApproach is fully committed to providing credit unions with the most robust, yet affordable, Big Data/Analytics solution. Paul Ablack, CEO of OnApproach, Stated “The management team at TopLine brings an analytic perspective to the credit union industry and have been a strategic partner in our product development. We are thrilled to have them as an investor and board member.”
“We were one of the early adopters of OnApproach’s M360 technology because we understand the importance of analytics and believed in their vision. We are excited to have a role in shaping the future of the company while generating a return for our members,” said Tom Smith, TopLine Federal Credit Union President and CEO.
OnApproach is a CUSO that focuses on providing credit unions with the power to use data as a competitive advantage both independently and cooperatively. With OnApproach, credit unions can now harness the value of Big Data through enterprise integration and predictive analytics. This deeper understanding of data allows credit unions to discover vital trends in member behavior, resulting in improved financial performance, reduced risk, and enriched relationships with members.
About Topline Federal Credit Union
TopLine Federal Credit Union, a Twin Cities-based credit union, is Minnesota’s 13th largest, with assets of more than $350 million. Established in 1935, the not-for-profit cooperative offers a complete line of financial services, as well as auto and home insurance, from its five branch locations — in Bloomington, Brooklyn Park, Maple Grove, Plymouth and in St. Paul’s Como Park — as well as by phone, mobile app and online at www.TopLinecu.com. Membership is available to anyone who lives, works, worships, attends school or volunteers in Anoka, Carver, Dakota, Hennepin, Ramsey, Scott or Washington Counties and their immediate family members.
Vicki Roscoe Erickson
Vice President, Marketing
Founder & CEO