Gallagher Systems Completes Online Banking Module for Coastal Federal Credit Union

Thursday 11 November 2004 00:15 CET | News

Gallagher Systems Group, has completed the online banking module for Raleigh, N.C.-based Coastal Federal Credit Union. The project, started in 1999, required Gallagher Systems Group to redesign the credit unions online banking platform, Coastal Online Transaction Service (COLTS).

The project consisted of designing, coding and changing the system from AIX to NT Windows 2000, creating an interface for electronic statements and bill payment and designing a one-click navigation and transaction history enhancement. Gallagher also designed, coded and tested the conversion of the online banking interface with IntegraSys CUBE core processing product. The phase one rollout of the project was completed in 2000 and Gallagher has continued to support and enhance the platform. Coastal Federal Credit Union was one of the first financial institutions to perform live transactions over the Internet when they originally launched the custom-developed Internet home banking product in 1996. By 1999, the credit union needed to upgrade its current platform, and at the time, the majority of financial institutions were using pre-packaged online banking platform products that required significant start-up costs and large fixed monthly costs. However, the credit union recognized that having a custom platform allowed them to have control of their own cost structures and the flexibility and customization they needed. According to credit union executives, Gallagher Systems Group provided the credit union with an economic way to develop a crucial delivery channel. The credit union looks to its online banking platform as an additional branch. With the redesigned online banking platform, the credit union has seen a significant increase in total transactions completed on the platform, and currently, the credit unions online banking module is completing as many transactions as one of the credit unions physical branches. Gallagher Systems Group provides highly qualified information technology consultants to the financial services industry through superior retail delivery systems design, development, customization and implementation.

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Categories: Banking & Fintech | Online & Mobile Banking
Countries: World
This article is part of category

Banking & Fintech