Plymouth, MN (June 13, 2014)–OnApproach, a leading provider of reporting and analytics solutions to credit unions, announced today that it has entered into an agreement to acquire Technology Navigator.
Technology Navigator is a Credit Union Service Organization (CUSO) providing reporting and analytical solutions to analyze risk, assess lending and certificate portfolio makeup, address key performance indicators such as loan origination and credit quality, and improve onboarding and retention programs.
OnApproach Founder and CEO Paul Ablack said “Building a comprehensive suite of applications that integrate with our industry standard M360™ Data Platform is a key part of OnApproach’s strategy to best serve our clients.” With the M360™ Data Platform, credit unions have access to products and applications from which they can obtain critical business intelligence and avoid the high cost of custom report development.
Ablack believes that “Technology Navigator’s strength in the area of Key Performance Indicators (KPI) Reporting and Analytics will greatly enhance OnApproach’s vision for a powerful library of applications that can be shared among credit unions”. Furthermore, while the service provided to Technology Navigator’s current client base will remain unchanged during this transition, OnApproach looks forward to the opportunity to offer them the benefits of their Big Data/Analytics Eco-System.
Technology Navigator was founded in 2008 by First Flight Credit Union in response to First Flight’s frustration with the ever-increasing complexity of reporting requirements placed upon credit unions. Technology Navigator emerged as the #1 provider of KPI Reporting and Analytics for D + H Ultradata clients ranging in size from $7M to over $4B in assets.
According to Todd Erickson, Technology Navigator President, “This strategic acquisition will allow Technology Navigator to expand into new markets with other core systems and will provide a pathway to enrich the Big Data/Analytics available to Technology Navigator clients.”
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 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.
Kim Carlstrom, Marketing Director