Fri, Nov 22 2024
The US Navy Federal Credit Union (NFCU) and Backbase have extended their collaboration on digital transformation by an additional seven years.
Using the engagement banking platform of a Dutch fintech, the $171 billion asset credit union is "continuing to standardize" both member- and employee-facing apps.
By utilizing technology, NFCU aims to improve processes, business logic, and consolidated data to improve the banking experience for its 13 million members and employees.
According to Backbase, its current priorities are to help the credit union's market agility even further and "reduce the number of siloed channel applications" inside its legacy IT processes.
NFCU, which has its headquarters in Virginia, offers banking, mortgage, loan, and financial health services to veterans, civilian and contractor employees, and members of the US Coast Guard and Department of Defense, along with their families.
Following the announcement in January that it will be utilizing software provider Oracle for its cloud and account servicing technologies, the news of its extended collaboration with Backbase was released.
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