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Catalyst Corporate Launches Cloud Computing
Wednesday, October 16, 2013 6:55 AM

Catalyst Corporate FCU has announced that it will provide credit unions with cloud computing.  The Catalyst Cloud Computing (C3) platform, powered by Compushare, will allow credit unions to move all of their local applications and processes to a secure, scalable, high-redundancy remote environment.

Catalyst Corporate has selected Compushare, a leading provider of cloud-based technology, to power its cloud and information technology outsourcing services. “After months of due diligence and considering several potential partners, we chose Compushare because of its deep familiarity with financial institutions and proven commitment to security,” said Garner.

“Compushare built its solutions from the ground up for the financial services industry, so the highest levels of security are applied across the board, including multi-factor authentication,” said Kathy Garner, president/CEO of Catalyst Corporate, “In addition, Compushare undergoes numerous third-party audits and has regulatory oversight from the FFIEC [Federal Financial Institutions Examination Council].  This combination of documentation and regulatory oversight will help to simplify credit unions’ vendor management process and provide peace of mind,” said Garner.

The financial industry focus benefits credit unions in other ways as well, said Garner:

“C3 offers a library of hundreds of financial applications, allowing credit unions to continue using the systems they have in place today while seamlessly adopting state-of-the-art technology that has the necessary security, business continuity and compliance built in,” she said. “The C3 platform eliminates the unpredictable costs, resources, maintenance, integration, back up and future upgrades that are required to support an on-premise hardware infrastructure.  In addition, applications and data can be accessed securely through any internet connection, giving credit unions complete flexibility.”

One of the best advantages that cloud computing provides, Garner continues, is allowing credit unions time to do other things.

“Implementing a cloud computing solution is a business process strategy, and credit unions that adopt this strategy no longer have to prioritize system upgrades and application deployment above other mission critical initiatives.”

Credit unions interested in learning more about C3 are encouraged to attend a special information session taking place at Catalyst Corporate’s Economic Forum Oct. 22-23 in Frisco, Texas.  These sessions, which will occur over breakfast and lunch on Oct. 23, will include an overview of the services as well as a question and answer session with executives from Catalyst Corporate and Compushare.  Later this year, Catalyst Corporate will offer a series of educational webinars as well.

Helpful Resources:

Credit Union Resources’ Financial & Technology Resources. Among other things, Financial & Technology Resources offers financial and auditing services, compliance services, and technology consulting and compliance services.