Seven new specifications are now available to credit unions utilizing Credit Union Financial Exchange (CUFX). CUFX is a free systems integration standard led by CUNA Technology Council and designed to help credit unions remove technical barriers when implementing new systems and applications.

These new specifications became available in a recent release of CUFX and support the implementation and integration of CULedger technologies, such as MyCUID, to CUFX-enabled credit unions. The latest 4.2 release of CUFX enables key integrations and early pilots of MyCUID to move forward rapidly and realize the advantages of both technologies working together.

“We’re proud to be using and integrating with CUFX standards,” said Julie Esser, CULedger Chief Experience Officer. “Both current and future capabilities of CUFX and CULedger products have the potential to continue to enhance each other. We’re looking forward to working together, advancing both technologies rapidly into the future.”

The new vendor-agnostic specifications will allow CUFX-user credit unions to:

• Integrate and manage new distributed ledger applications, like MyCUID from CULedger
• Integrate directly to distributed ledger applications that support mobile
• Build new apps, integrations and user experiences that participate in distributed networks
• Integrate to fraud, AML/BSA and KYC distributed ledgers for enhanced logging and AI assisted automation and analysis
• Enable integrations with enhanced user identity validation, real time logging, secure messaging and notifications, consents, high value/risk authorizations, self-service change notifications, and application usage analytics

CULedger is to use CUFX data dictionaries and constructs as a significant component of distributed ledger and integration designs. CULedger and CUFX-user credit unions will benefit from these enhancements through:

• Common approach to naming and terminology
• Ability to follow data and message flows with consistency and standardization
• Reduced or eliminated data mapping and custom integration work
• Expansion to support international use cases
• Ability to transmit and receive secure messages and files with members across secure and authenticated channels

To learn more about CUFX, visit cufxstandards.com.