Case Studies
JX2 Creates ACH Origination System that Becomes Model IT Project for Global Financial Institution
“This was the number one system development project for the organization at the time,” said the institution’s vice president. “We couldn’t have done it without JX2, in terms of both the outcome and the requirements gathering at the outset. In fact, the requirements document they helped craft has been cited several times by our systems development group as a model requirements document.”
Innovative ACH Fraud Prevention Solution Overcomes Persistent Account Hijacking Threat
With the solution deployed by JX2, successful fraud attempts immediately dropped to almost zero. Instances of internet fraud have remained comparatively low for this institution since its implementation three years ago. The organization continues to use the JX2 solution to keep customers secure, even as would-be fraudsters grow increasingly adept.
Fedwire Automation Speeds Funds Transfers for Navy Federal Credit Union
Navy Federal is disbursing more funds to members than ever before. In 2006, they processed over $7 billion more in disbursements than in the system’s first full year in 2000. Transactions that took 24 hours to complete can now be processes and approved in just minutes, depending on their complexity.
Loan Application Saves Years in Training Time for Navy Federal Credit Union
Navy Federal partnered with JX2 to build the Call Center Consumer Lending System. Billions of dollars in loans now pass through Navy Federal’s call centers. Loan values increased 22% between 2005 and 2006. And Navy Federal estimates the application has saved them years of hours in employee training time.
Web-Based Loan Applications Bring Rapid ROI to Navy Federal Credit Union
In two years with the system JX2 built, loan amounts tripled from approximately $507 million to over $1.6 billion. These applications paved the way for a dramatic increase in loan volume over the online channel, which now processes billions of dollars. The system has also led to dramatic cost reductions for Navy Federal.
OFAC Broker Creates Patriot Act Compliance for Major Institution
Built with a flexible service-oriented architecture (SOA), the JX2’s OFAC Broker meant unlimited application integration for this institution. The broker connected directly with the OFAC scanning engine, operating as if only one system was connected, while in reality, multiple systems of varying technology were connected. The impact of the system continues to grow exponentially as needs and compliance requirements have increased.
