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Tech Council offers data storage management paper

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MADISON, Wis. (9/16/11)--"Safety and integrity of data are No. 1 in any storage scheme credit unions explore. Yet, security concerns shouldn't prevent credit unions from planning to obtain greater efficiencies and cost savings of the latest technologies such as cloud computing," says a new white paper released Thursday by the CUNA Technology Council. IBM, Armonk, N.Y., highlights cloud computing among current storage trends, the paper says. "Cloud computing--loosely defined as combined and redistributed computer resources--is growing in appeal due to its seemingly unlimited computational resources, planning and forecasting capabilities, and flexibility," the paper says. It discusses security concerns regarding data storage, benefits and drawbacks of outsourcing storage management, and types of cloud storage arrangements. Also, two credit unions describe how their data storage has evolved, eliminating backup tapes and implementing a private cloud. CUNA Council members can get complimentary copies of this and more than 300 other white papers. Non-members can use the link for pricing information. For more information, use the link and click the "Tech" tab.

OpenClose social media software available to CUs

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WEST PALM BEACH, Fla. (9/16/11)--OpenClose, a developer of Web-based mortgage software solutions, has entered into an agreement with Open Solutions, a financial services technology provider, to refer OpenClose’s loan origination software, loan pricing, and social media software to banks and credit unions. Through its referral agreement with OpenClose, Open Solutions can offer its credit union and bank clients a new mortgage suite that includes loan origination, loan pricing and a decisioning engine. The loan origination software can be used in multiple branches, grow with an institution and includes a compliance program. Open Solutions clients also can use OpenClose Social to monitor social media. OpenClose Social lets financial institutions know what members, customers, competitors, the media and others are saying in online forums like Facebook, YouTube, Twitter, LinkedIn, WordPress and other Websites, blogs and newswires. The program empowers financial institutions to respond with informed, strategic and targeted social media campaigns that position banks and credit unions as trusted financial partners.

DataMentors new CUSO tailored to CUs

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TAMPA, Fla. (9/16/11)--DataMentors, a data quality and management solutions company, has formed a strategic partnership with a newly formed credit union service organization, CU Knowledge Solutions. CU Knowledge Solutions will offer data and processing packages tailored to the credit union industry. DataMentors said the data packages have been designed to:
* Increase member loyalty, retention and membership; * Identify cross-sell and new loan opportunities; * Identify loyalty risks; and * Improve marketing return on investment.
“DataMentors truly understands the unique needs of the credit union market,” said Bonnie Ciuffo, South Carolina Financial Solutions president and chief information officer of South Carolina FCU, North Charleston, S.C.