New Web-based Banking System Rolled out for Corporate Credit Unions

by Jason Sherrill
July 1, 2010

When a group of seven corporate credit unions wanted to replace their Open Door transaction processing platform, they chose us to develop their new web-based platform. The result, based on the web-based system we’ve created for other corporates, is called CorPower. The new CorPower system is designed to allow natural person credit unions to perform Wire Transfers, Account Inquiries, Check Management, Coin & Currency ordering, Reporting and more. The CorPower system uses InetSolution's MemberProtect security framework for data protection and user authentication.

I’m willing to go on record to say that CorPower is the most sophisticated, modern online banking application in the corporate credit union industry today.

Key features:

• Uses MemberProtect's risk-based authentication (RBA) system to control access to the application
• MemberProtect Roles and Privileges system gives administrators complete control to manage and delegate user management to the individual credit unions
• Combines MemberProtect’s built-in logging and custom auditing to provide a complete audit trail for all user actions performed on the system
• Seamlessly performs OFAC checking for Wire transactions
• Real-time Share to Share, Share to Loan and Member to Member transfers
• Designed to run on a server farm for scalability and load balancing of both web and database traffic
• Integrates with numerous back office applications to perform report processing, wire processing, future dated transactions and routine platform maintenance, such as log rolling

CorPower Logon Page

We delivered a reliable, high-performance application for well under the cost of other solutions in that market place and with superior functionality. We’re very proud of the CorPower application and its performance in the field. Due to our solid software design, we were able to hand over day-to-day maintenance of CorPower to in-house staff at U.S. Central Federal Credit Union and they have been able to perform minor rollouts and updates with only minimal assistance.

I think one of our CNP counterparts said it best with this statement,

You have been a pleasure to work with on this enormous project and I, too, am very proud of what we have all accomplished together as a team.  There were many times when you and Justin made it very easy for me to want to put extra efforts into this project because you were so great to work with and cared deeply about the outcome.

P.S. For those who don’t know him, Justin was the software architect and programming lead on this project. Many others here at Inet assisted in developing, supporting and deploying the CorPower application.