Madison, Wis.-based CUNA Mutual AdvantEdge Analytics announcedcollaboration with Microsoft to develop a credit union dataplatform aimed at enabling tech scalability and integrationessential to a data analytics strategy.

“Working with Microsoft is a major step in our continuedcommitment to delivering innovation to the credit union industryand strengthening for the future,” Robert N. Trunzo, president andCEO, CUNA Mutual Group said. “We are not onlyaddressing the changing financial needs of credit unions and theirmembers, we are leading the way by collaborating with one of theworld's most innovative companies. This is an exciting time for ourindustry.”

The collaboration expects to produce a new data platform todeliver deeper insights into a credit union's business data throughPower BI, Microsoft's business analytics service, and translatethese insights into action through Dynamics 365, Microsoft'scloud-based ERP and CRM enterprise system, and other digitaltransformation tools like Power Apps and Microsoft Flow. It willfurther enable the AdvantEdge Analytics data platform, independentsoftware vendors, partners and third parties to expand data models,accelerating the possibilities for digital transformation forcredit unions.

James Phillips, corporate vice president, Microsoft BusinessApplications Group, said, “We are excited to work with CUNA MutualGroup, combining their extensive financial services expertise withMicrosoft's expertise in business applications and analytics.AdvantEdge Analytics provides compelling value to credit unionsthrough their industry-focused application on top of Microsoft'sCommon Data Model.”

“Together, our companies will significantly advance theindustry's data analytics capabilities to a new level, creating anindustry-leading platform that will best position credit unions toimprove the member experience, enable growth and compete moreeffectively with larger financial institutions and fintechs,” saidTim Peterson, president AdvantEdge Analytics. “CombiningMicrosoft's technology leadership and CUNA Mutual Group'slong-standing experience working with credit unions, together wewill exponentially expand the industry's ability to capture thefull value of data analytics to meet and exceed the evolving needsof their members.”

AdvantEdge Analytics provides an integrated suite of softwaretools and insight activation services. The business focuses onbuilding scale, better member intelligence and acceleratedanalytics adoption to help credit unions strengthen market shareand build long term growth.

Meanwhile Microsoft continues its very visible extension intofinancial technology. Recently it announced joining with Finastra,formed in 2017 by the combination of Misys and D+H, for cloud-basedfinancial services software. The alliance will see Azure,Microsoft's cloud platform, supporting FusionFabric.cloud asFinastra's strategic cloud platform. In addition, Finastra willlaunch a selection of global payments and retail banking productson Azure over the course of this year.

In addition, Microsoft and Bank of America Merrill Lynchannounced a collaboration on blockchain technology as the techgiant expands the scale of its blockchain as a service platform forAzure clients. In an announcement at the annual SWIFT-organizedSibos conference, the two firms highlighted their objective totransform the highly manual trade finance sector.

Microsoft and BOA will, according to a press release, build andtest technology, create frameworks, and establish best practicesfor blockchain-powered exchanges between businesses and theircustomers and banks.