Maintain Common Sense During Credit Union Core Processor Review

In 1946, American writer Gertrude Stein said, “Everybody gets so much information all day long that they lose their common sense.” One can only imagine Ms. Stein’s assessment of our day. We are buried under an ocean of information. The challenge, of course, isn’t obtaining information but separating it into something useful.

The task of reviewing a new core processing system can be overwhelming

In an article published in the Credit Union Times earlier this year, I shared my views on navigating today's information overload when making a decision on committing to a new credit union core technology. In my nearly three decades of working with CUs, I’ve seen many executives turning to others for direction. Although it may feel safe to seek advice, it is also wise to question the veracity of the information received and the motives of those that are giving it.

I invite you to download this featured article, "Maintaining a Common Sense Approach" that appeared in Credit Union Times earlier this year.

Maintain and Integrated Approach

One piece of advice that is repeated by industry experts is renewing the focus on core integration, and how important that becomes when introducing new products, such as mobile apps and mobile lending to your members. In another article published by Credit Union Magazine, "Building a Better Core," evaluating credit union core processors for a conversion is an effort well worth taking:

"A core processing conversion is much like replacing a leaky foundation. You can put it off for years with temporary fixes, but the day of the “big fix” is unavoidable.

But the effort, cost, and pain involved “is short term when considering your long-term strategic objectives,” says Scott Sylvester, chief financial and technology officer at $350 million asset CU.

“If you don’t have integrated solutions, you’re finding it increasingly difficult to access information, and you can’t quickly launch new products to remain competitive,” explains Christine Barry, Aite Group’s research director."

Integrated technology that is designed by a single developer provides for an enhanced user experience and the benefits of complete integration. Such integrated apps also provide the benefits of a secure and controlled environment. The FLEX core system and its ancillary product set, including mobile apps, provide for complete integration and unmatched security. To learn more about one of our fastest growing integrated apps, view our Mobile Lending Case Study and Product Guide.