CU Performance teams with NetEconomy to deliver AML services to credit unions

Source: NetEconomy

NetEconomy, the global leader in financial crime management and compliance solutions, today announced that the CU Performance Group, a wholly owned subsidiary of the Florida State University (FSU) Credit Union, has selected its ERASE Compliance Manager solution as the core platform for delivering low-cost anti-money laundering ASP services to credit unions across the United States.

"Small to mid-range credit unions are facing increasingly stringent regulatory demands. With our new combined ASP offering, credit unions will have an immediate and cost-effective way to address these demands, mitigate risk, and quickly benefit from a world-class anti-money offering," said Chuck Adcock, President of the CU Performance Group. "We selected NetEconomy because of its innovative, easily deployable, and user-friendly solution, and its already-proven success with one of the US's largest Credit Unions."

"Our joint ASP offering delivers a unique and much needed solution for credit unions to get on board immediately to address anti-money laundering requirements. Within weeks credit unions will be up and running and ready for regulators," said Peter Kwakernaak, Chief Commercial Officer of NetEconomy. "NetEconomy is extremely pleased with CU Performance Group's selection of ERASE to help smaller credit unions jump-start their compliance and anti-money laundering initiatives."

The first anti-money laundering ASP implementation is already underway at the Florida State University Credit Union. New credit union customers will be able to sign-up for the ASP service starting in April.

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