Co-op Financial services has announced that, in partnership with Diebold Inc., it has begun live beta testing of its Co-op NextGen ATM software application, which enables members of participating shared branching credit unions to conduct nearly all branch transactions, including loan payments, at the CU's Diebold ATMs.
Co-op NextGen ATM enables credit unions to use their existing Diebold ATMs to offer members a shared branching option. This allows members to access all of their accounts with the credit union, not just those linked to the card, as with standard ATM transactions.
The software is being pilot tested at an ATM outside the Red Rocks Credit Union's main branch in Highlands Ranch, Colo. The credit union has $223 million in total assets and more than 16,400 members
"Co-op NextGen ATM is an industry-first integration of ATMs and shared branching, allowing credit unions to provide the self-service members increasingly demand in the convenient, proven channel of the ATM," said Stan Hollen, President and CEO of Co-op Financial Services. "Red Rocks CU is a great partner in the development of Co-op NextGen ATM, which is going to help all credit unions get more out of their existing ATMs and improve the member’s self-service experience."
"Red Rocks CU is proud to participate as a beta for the next generation of ATM technology," said Jason Nelson, vice president of service for the credit union. "It … allows us to provide our members with secure, 24-hour access to all of their accounts. This was an opportunity we couldn’t pass up."
For more on this topic, visit the networking/connectivity research center.