2018 Winner Profile

United Nations Federal Credit Union

Project Description:
United Nations Federal Credit Union (UNFCU) is a member-owned financial institution that serves the needs of the United Nations community around the world. By nature of their work, members send money across the world to pay for their obligations. UNFCU remits over 250,000 payments annually amounting to more than $1.5 billion. To make this process easier, UNFCU implemented P360 (Payments 360), a one-of-a-kind system that allows its members to send payments to anyone around the world in any currency quickly and cost effectively. With P360, UNFCU replaced its previous third-party system, which necessitated lengthy forms with hard to understand remittance payment details. Now, members can access the system anytime, anywhere on any device with the same intuitive user experience through digital banking without additional credentials. As a result, members can submit payments without having to know confusing remittance nuances, including the correspondent bank and the intermediate bank, etc. Payments are processed through internally developed innovative routing and risk engines. And payments are remitted in minutes if qualified for straight-through processing while adhering to all domestic and international remittance regulations.
Business Goal:
Customer Experience, Regulatory Compliance, Strategic Impact
Prasad Surapaneni, Senior Vice President and CIO
William Predmore, President and CEO
Long Island City, N.Y.
Financial Services (e.g. Banking, broker and Dealers, Exchanges)
View All 2018 Winners »