The XYZ’s of Credit Union APIs

By Preston Packer |

Jul

03

 

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Finding a Core That's "Just Right"

By Preston Packer |

Apr

04

The core system is the foundation of all credit union operations. However, one system or provider is not likely to last a credit union’s entire lifetime. As credit unions grow and change, their technology needs from a core provider might also change. And if their current provider isn't willing to grow with them, it might be time to start a core system review and consider alternatives. There are many factors to take into account when looking into core system providers, however, the best core platforms will have a few key features in common. When choosing the perfect core data processor for your credit union, ensure these four features are included.  

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Is Your Credit Union Aware of the Recent HMDA Announcements?

By Preston Packer |

Mar

21

HMDA compliance has been looming over credit unions for many years. It was actually enacted by Congress in 1975 but wasn't transferred to the Consumer Financial Protection Bureau until 2011. The financial industry has been revamping their loan processes in order to ensure compliance with recent and more rigorous adjustments to the regulation, but what exactly does that entail? Here is the download on recent HMDA announcements and how your credit union can remain compliant.

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Core Integrations are Opportunities

By Preston Packer |

Nov

29

The lack of core integration tends to bring stress and anxiety upon some credit union executives and IT staff. Core integration is often viewed as a competitive advantage for credit unions who want to offer the best products and services and is an opportunity for credit unions of all sizes. Core integration opens the door to new features and services that help attract new members and keep existing members happy. Here are a few key benefits that credit unions can gain from better core integration:

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Integrating Credit Card Processing with Your Credit Union

By Preston Packer |

Nov

06

To date, credit unions have been faced with the choice of providing credit card processing in-house or outsourcing. Historically, only big credit unions ran in-house credit card processing. Smaller CUs shied away from credit card processing due to a variety of factors: It was expensive to do so in-house, and outsourcing was often difficult to integrate with the core. Furthermore, the rewards programs were not up to par with those of banks and larger FIs, which made them less desirable to members. Now, with increases in integration capabilities and decreases in cost, credit unions of all sizes are incorporating integrated processing capabilities. Here’s why credit unions big and small have opted for integrated credit card processing.

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The Scary Tricks of Recurring Payment Changes Are No Treat

By Preston Packer |

Oct

31

The process of switching financial institutions tends to be scary for members. Realizing your billing information is out of date can haunt a member, and getting hit with several months worth of delinquent bills is a fright. In the case of recurring payments, there will come a time when billing information needs to be updated, and unfortunately, updating it can be a nightmare. This may shock members because the whole reason they chose a recurring payment method is for convenience, and ironically, updates are anything but. If a credit union wants to be a member's primary financial institution, which most if not all do, updates to the recurring payment process should be easy. Here are some things to consider about recurring payments to avoid spooking your members.

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Conquering Anxiety During Core Conversions

By Preston Packer |

Sep

27

Change has never been to known to be easy. In fact, there is an entire industry built around change management or the process of preparing your credit union's leaders, boards, employees, and members for organizational change. Change comes in many forms, from navigating a merger or acquisition, to the conversion of core technology on which your credit union relies. While the process of selecting a new core system can be exciting for management-level staff during the initial review process, stress extends throughout the organization during implementation of the new system. Here are tips to address these potential pitfalls before they derail your conversion:

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You Don't Know What You Don't Know | Technology

By Preston Packer |

Sep

11

When a member goes to check their account balance through a mobile banking app, they don’t think about the types of integrations that were put in place by their credit union in order to allow their transactions to happen. Although your credit union understands how the core is integrated with mobile apps, that’s not something the member is thinking about. The member expects their account information to be there, and the app to work as expected. Therefore, it is the responsibility of the credit union to anticipate members’ needs and provide the supporting technological solutions they demand. However, your credit union can’t provide a solution if you aren't aware of the new technologies available to you. Technology is changing every day, and staying up-to-date on the latest features will give you a competitive edge and allow your credit union to provide a better range of member services. Here are 3 simple ways to stay on the cusp of trending credit union technology: Read More

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