DENVER, Colo., and ROCKVILLE, Md. (2/27/12)--NeighborBench and Mountain West Credit Union Association (MWCUA) have entered into a strategic partnership that makes Mountain West the official distributor of NeighborBench's compliance solution for credit unions nationwide.
The NeighborBench compliance solution offers automated tools that reduce the cost, time and resources typically required to comply with regulatory demands, the partners said last week.
"Managing regulatory compliance is one of the greatest challenges our credit unions are facing," said Mountain West President/CEO Scott Earl. He added the solution "adds a powerful automated and online element to our Compliance Solutions tool that will help credit unions address this challenge."
Mountain West Credit Union Association is the league serving member credit unions in Arizona, Colorado and Wyoming. The association has offered compliance solutions regionally since 2008.
LA JOLLA, Calif. (2/27/12)--ClosingCorp's SmartGFE Service now makes real-estate closing data available to credit unions.
SmartGFE enables credit unions to instantly create good faith estimates (GFEs) that are compliant with the Real Estate Settlement Procedures Act (RESPA). The service provides GFEs with almost no user interaction, the La Jolla, Calif.-based company said.
Additional features include the ability to deliver current rates for real estate closing services nationwide as well as transfer taxes and recording fees. Custom configuration is available so credit unions can access data from specific service providers.
ClosingCorp provides real estate closing cost data and technologies to mortgage lenders, real estate providers and consumers.
HOUSTON and REDWOOD CITY, Calif. (2/27/12)--Pulse and Obopay will work together to enable real-time money transfer capabilities for financial institutions that participate in Pulse's debit/ATM network.
The agreement between Pulse and Obopay enables Pulse network issuers to offer person-to-person (P2P) and account-to-account (A2A) transfers using Obopay's Mobile Money for Banks and Credit Unions service. The service employs Pulse's existing connectivity and settlement processes.
Accountholders at participating financial institutions can also instantly receive funds from other financial institutions in their debit accounts.
A joint Pulse and Obopay statement said advantages for financial institutions include real-time authorization for transactions, interchange income from fund transfers, a simplified user experience and expedited deposits for members.
"A growing number of mobility-minded consumers require instant payments and transfers," said Judith McGuire, Pulse's executive vice president of product management.