A wave of outsourcing may be heading toward the corporate credit union sector. That at least is the hope of Murthy Veeraghanta, CEO of VSoft, a Duluth, Ga.-based provider of computer processing to hundreds of financial institutions, a number that just grew by one with the signing of a deal that shifts Warrenville, Ill.-based Alloya's back-office item processing to VSoft.

At Alloya, Senior Vice President Kevin Brauer indicated the corporate's intent is to outsource many more such services. "We want to align ourselves with the best of breed," he said. "Our goal is to get out of the manufacturing businesses," referring to commodity processing. "We are all about member service. Our core is in the aggregation of products and services so that members can get a good price."

Veeraghanta pointed out that corporates today may find it advantageous to reduce the size of their balance sheets and, with VSoft, a corporate that outsources its processing "is able to provide services at minimal operating costs and practically no capital costs. That is the advantage we bring."