The NCUA outlined its recent technology modernization efforts and implementation of new software tools in a letter to credit unions on Thursday.
The agency says that it will begin transitioning to several new modernized applications, including emerging and secure technology that supports the NCUA’s examination, data collection, field of membership and reporting efforts. The letter states that these new applications will streamline processes and procedures and provide “significant benefits” to credit union users.
Further, the modernized systems are built on infrastructure that is reviewed and certified by the Federal Risk and Authorization Management Program “cloud” security certification process, and significant emphasis was placed on technical controls including, but not limited to, denial of service mitigation and multi-layer encryption of information in transit between users and the applications, as well as at rest, according to the agency.
According to the letter, the NCUA will transition to the following applications in this month:
- NCUA Connect;
- Admin Portal;
- Consumer Access Process and Reporting Information System (CAPRIS);
- Modern Examination & Risk Identification Tool (MERIT); and
- Data Exchange Application (DEXA).
Credit unions wishing to access these new applications must identify up to two individuals as admin portal administrators with delegated responsibility for managing the users for their credit union, according to the letter. Once approved and confirmed by the NCUA, administrators can add users and grant application access.
Details about the applications as well as links to training and instruction guides are included in the letter, which is available on the NCUA website.