Commercial Business Systems and RC Olmstead Partner With MoneyDesktop to Enhance the Online Banking User Experience

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Commercial Business Systems (CBS) and RC Olmstead (RCO) will offer MoneyDesktop’s PFM solution to enhance the CAMs- ii online banking user experience, increase wallet share and drive loan volume

MoneyDesktop Product Showcase
With members demanding more from their credit unions, it is critical that we provide the best solutions . . .

As technology continues to shift consumer behavior at an increasingly rapid pace, CBS and its valued reseller RCO are integrating PFM to enhance the online banking user experience. CBS, an industry veteran of core data processing systems, today announced that it has partnered with MoneyDeskop to integrate PFM into its CAMs-ii platform. CBS and RCO will offer the PFM solution as an integrated solution to a growing client list of nearly 75 credit unions.

MoneyDesktop’s immaculate design, innovative mindset and speed of growth were points of attraction for CBS executives. In less than 2 years, the company has added more than 310 financial institutions in the United States as clients and was recently awarded “Best of Show” for mobile development, at FinovateSpring 2012.

“With members demanding more from their credit unions, it is critical that we provide the best solutions that compliment and enhance our core CAMs-ii platform,” states Tony Phillips, President of CBS. “By doing so, we position our credit union clients in the strongest position possible.”

Core to the PFM is account aggregation, which enables members to view and manage all of their financial accounts from one place, within their credit union’s online banking. MoneyDesktop’s solution also gives members a greatly enhanced online banking user experience with feature-rich money management tools that bring a member’s finances to life with stunning data visualizations through both online and mobile channels.

Stephen J. Kambeitz, President of RCO remarked, “MoneyDesktop’s PFM elevates the online and mobile money management experience to a level far beyond the current expectation of members and gives our CAMs-ii users an incredible competitive advantage in today's marketplace.”

CAMs-ii users will ultimately be able to leverage a powerful data analytics and cross-selling platform that will empower them to stay competitive in a disruptive marketplace, attractive to the next generation of account holders and centrally positioned as an account holder's primary financial institution – an invaluable role that empowers financial institutions drive wallet share, loyalty, and top-line revenue.

"Engaging technology that can quickly increase a credit union’s ability to grow loan volume is the greatest priority in today’s disrupted market," Says Don Parker, VP of Strategic Partnerships at MoneyDesktop.

About MoneyDesktop
MoneyDesktop (MD) is redefining the way that millions of people interact with their finances by developing software technologies that drive the financial engagement between account holders and financial institutions. Through its award-winning PFM, MD is the leading provider of online and mobile money management solutions and has become the fastest-growing provider of its kind. By integrating directly into online banking, core, and payment platforms, MD positions banks, credit unions and payment providers as financial hubs and offers tools that dramatically impact loan volume, user acquisition, and wallet-share. MD currently has over 310 financial institution clients and partnerships with 25 Online Banking/Core/Payment Network providers.
About Commercial Business Systems, Inc.}

Commercial Business Systems, founded in 1980 and headquartered in Goldsboro, North Carolina, is a privately held company that provides premium software and IT services for the Credit Union industry. These products are made possible by innovative technology developed by CBS, which enables credit unions to improve focus and streamline data processing infrastructure by using a simple, standard browser-based environment. By reducing technical requirements, our credit unions are free from the responsibility of managing and maintaining complex software and communication networks, thereby allowing them to focus on member services. Additionally, by incorporating our eServices solutions, members can access their account information, pay bills and view statements at any time, from any location worldwide, via an online connection.

About RC Olmstead
Established in 1978 and headquartered in Dublin, Ohio, R.C. Olmstead provides a premier data processing system. Our success is due to the flexibility of our system, which helps our clients serve their needs and expand their membership. Our clients range in size from small credit unions situated in a corner of a factory to large associations with multiple branches. They vary in asset size from $1 million to more than $300 million. From the very first days, R.C. Olmstead made a commitment to provide the best service and support in the industry. Clients continue to tell us that our knowledgeable and friendly support staff is what sets R.C. Olmstead apart.

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Nathan Gardner
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