In technology, the word "simple" often equates to just basic offerings. A simple mobile phone has you thinking of a flip phone, something that lets you make a phone call and has basic texting capabilities. Google the phrase "simple computer" and the first thing you will see are images of terminal computers, a history lesson for sure but far from today's elegant mobile computing devices. The implied perception we live with today is that the more features you add, the more difficult the technology is to use.
What about credit unions who want to have their cake and eat it too? They want a simple user interface for their credit union core processing system, one that their employees (tellers, loan officers or management) can learn easily. Additionally, they want their members to experience the same benefits of simplicity and ease of use when applying for loans or using mobile banking. Credit unions don't want to sacrifice features for this simplicity. Just as a teenager would ask "What good is my phone if I can't use it to Snapchat," credit union execs should ask, "What good is my credit union data processing system if I can't get detailed reporting, offer mobile lending or provide direct card management?"
Last year the Credit Union Times explored the evolving role of the core and discussed the difference between looking for a credit union core processing system that provides integrated features versus adding third-party products to a system. “Do I go best-of-suite and get everything from one vendor, and minimize the number of vendors I need to manage? Or do I go best-of-breed, no matter how many vendors I have to manage?” Several months later the Credit Union Times provided a follow-up story asking a different question, "In-house or outsourced data processing?" The truth to both of these questions can only be answered by the one's asking them. Only you know what is best for your credit union and those answers will be based on your staff, your budget and the technologies you want to offer.
In their next credit union data processing system review, credit union executives should demand to have their cake and eat it, too. Finding the right core technology that is simple to manage and one that helps you achieve efficiency while providing the "bells and whistles" your members want is not as difficult as you may think, you just need to know where to look.
