Is there a common Credit Union Data Model available that contains Members, Accounts and Transactions?
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Is there a common Credit Union Data Model available that contains Members, Accounts and Transactions?
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Replies
Hi Hawes - OnApproach has built exactly what you're describing. The OnApproach M360 data model has consistent data definitions for every credit union on the solution regardless of what core or ancillary systems they are on. This was built off of the CUFX standard and we currently have 50 CU Clients all on the standard data model. Please let me know if you would like to discuss more and check out this link that describes our vision and why standardize data definitions are so important: http://blog.onapproach.com/newsroom/onapproach-announces-collaborat...
My contact info is: Austin.wentzlaff@onapproach.net or 320-444-0291.
Thank you!
Hi Austin, I believe that Hawes was looking to have a common model that is available as a community/open source without purchasing anything. Is the model that you are mentioning available without any purchase. If yes, then can you elaborate on how to get access to it.
Thanks
Medhavi
Adam & Naveen,
I believe there is one called CUFX (Credit Union Financial Exchange) that provides some guidelines on the data model for CU. I even written an article on our experience with a credit union for their data analytics journey.
https://www.linkedin.com/pulse/big-data-strategy-roadmap-our-journe...
http://www.treselle.com/blog/loan-application-analytics-with-cufx-2/
http://www.cufxstandards.com/
Thanks,
Raghavan
Hi Raghavan,
Thanks for pointing this out.
I got chance to speak with David LaCroix, CUFX standards manager about the model. There indeed is a model available but it is more targeted towards application integrations and not towards data analytics. The difference being that the model that is currently on their website does not include transaction information.
There is a new CUFX that David plans to upload soon on CUFX site.
If there is interest in the community, I would love to start the effort for CU data model here on CULytics.
Thanks,
-Naveen
Thanks Naveen. I'm pretty sure it includes Transaction related schema (see below). However, I do agree this is not ready for data analytics but CUFX is one step closer to that normalization process.
http://cufxstandards.com/portals/0/Content/Schemas/Transaction.html
http://cufxstandards.com/portals/0/Content/Schemas/TransactionFilte...
http://cufxstandards.com/portals/0/Content/Schemas/TransactionMessa...
There isn't anything that is freely available. There is a a couple of companies that get close for a price.
Hi Adam, Can you tell more about the companies that offer the model for a price? We can check if they are willing to contribute it to CULytics and there might be possibility to create a win-win.
Thanks
Hi Hawes,
I have not come across a common data model for members, accounts and transaction. I have been thinking about this as well. If others on the community have any insights then I would be very interested too.
Best Regards