Some 90 credit unions that presently use the CUBUS Solutions online banking platform will soon get the opportunity to rollout the MoneyDesktop PFM tool to their members, according to an announcement of a new alliance that was jointly made by the two companies.
MoneyDesktop presently is offered by some 370 financial institutions – of which around two-thirds are credit unions, according to Keith Riddle, a vice president at the Provo, Utah, company. That broad familiarity with credit unions figured importantly in CUBUS’ decision to align with MoneyDesktop, according to the joint announcement.
“MoneyDesktop’s innovative PFM product suite, including the MoneyMobile app, is a perfect complement to the CUBUS Solutions online banking platform,” John-Ashley Paul, CEO of CUBUS Solutions in Livermore, Calif., said in a prepared statement.
“Our tight integration with MoneyDesktop’s PFM solutions, coupled with the comprehensive functionality of the CUBUS online and mobile banking platforms, will provide credit unions with a distinct competitive advantage and an opportunity to increase member acquisition and retention,” Paul said.
Bret Skousen, another vice president at MoneyDesktop, indicated that a benefit of the deal for participating credit unions is that usage of personal financial management tools correlates highly with stronger member retention.
Riddle, in an interview, added that MoneyDesktop will be tightly integrated with the CUBUS online banking product, so users will enjoy a seamless experience.
MoneyDesktop leaves it up to the individual financial institution to use the company’s product names, or to white label them, so that only the institution’s name is in front of the user.