Corporate One enables immediate payments with Data Orchestration Hub

“The idea for this germinated when we learned a group of credit unions approached their core vendor asking for them to add 100 different small and large features so they could better compete with other players in the market and provide niche services,” says Pradhan. “The core vendor’s response was it would take up to 50 years to do this. We wanted to speed up the innovation cycle for our members, and also provide services to them at a cheaper rate by making connections seamless.” So not only does the data orchestration hub reduce operating costs and streamline onboarding for Corporate One members, it also boosts customer satisfaction because their money moves faster.

But onboarding members in itself was a major challenge. In their first year of the orchestration hub, only one member went along with it. “We were extremely thankful for the first credit union that trusted us and came along on this journey with us because it was something so new,” he says. But this journey wasn’t without its hurdles. This first credit union was fairly large, which means they handle a lot of transactions every day.  “When we first turned the data orchestration hub on, the volume of transactions was high, as were rejection rates for these transactions,” he adds. “So we had to turn it off immediately and figure out what was happening.” What they discovered was the credit union’s core wasn’t fast enough, which meant that the transactions were timing out. “So, we had to take a break, fix the core, and then try again,” he says. “When we originally tested it, we didn’t have this scale of transactions. So when we went live, the core wasn’t ready.” So every day throughout this process was a learning experience.

Once they ironed out these issues, though, Corporate One spent about a year going around the US, talking to members and educating them about what they were doing. Within six months, up to 40 members were onboarded, and today, Corporate One has over 60 members on the orchestration hub.