Make Better Decisions Using Your Credit Union Data

By Preston Packer |

Oct

18

Is the fear of undertaking a core conversion holding your credit union back from making better business decisions that can lead to the growth? In the article, "Two Products That Will Increase Credit Union Growth," it is discussed how the number of credit union members in the U.S. represents approximately 43% of the economically active population, a number that is continuing to grow as distrust in big banks continues (think Wells Fargo). Additionally, a commitment to product development by CU executives has contributed to the sustained growth we are experiencing. However, what works for one credit union doesn't always work for another. How can you be sure you are investing in the technology that your members demand if your existing credit union core provider does not deliver meaningful data and reports?

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Is It Time To Break Up With Your Core Processor?

By Preston Packer |

Jun

09

Taylor Swift has found fame writing songs about her seemingly endless breakups. The once country star is now a pop icon and her number one chart-topping song of 2015 "Blank Space" is an anthem of being young and reckless for teenagers nationwide. The lyrics are compelling because relationships can be difficult and no matter how promising they begin, have an equal chance of ending tragically. "So it's going to be forever, or it's gonna go down in flames... It'll leave you breathless, or with a nasty scar..." Relationships often end because once someone (or a business) wins you over, they stop doing the things that attracted you to them in the first place and the romance dies. All of the reasons you chose your existing credit union data processing system may now be either non-existent or just not enough to keep the spark alive. What started as a blank space is now painted with indications that it might be time to leave.

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Core Technology: It's Not as Difficult as You Think

By Preston Packer |

May

10

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. 

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3 Obstacles to Overcome in Core System Implementations

By Preston Packer |

Mar

01

As we enter March, the end of the first quarter of 2016 is in sight. A core system conversion may have made it on the calendar for many credit unions this year. There’s no time like the present to start preparing because before long it will be time to implement and start planning for 2017.  If your credit union is planning a core technology conversion, the task can appear daunting, but it doesn’t have to be that way.

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Is Your Core System Following the 80/20 Rule?

By Preston Packer |

Feb

04

Whichever you prefer to call it - The Pareto Principle, Law of the Vital Few, or even the Principle of Factor Sparsity, it's most simply known as the "80–20 rule."  Nearly every business model in existence from software engineering to load testing to sales, roughly 80% of the effects come from 20% of the causes.

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This is Your Brain on Core Technology

By Preston Packer |

Feb

02

Do you remember that public service announcement from the late 80's, "This is your brain on drugs"? It's hard to forget, mainly because it was aired repetitively by the Partnership for a Drug Free America in 1987.  Like a fried egg, we sometimes tend to over complicate the core, so much that we tend to 'fry' our brains trying to keep up with the pace of technology.

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Tales From the Core: A Spotlight on Successful Credit Union Core Conversions

By Preston Packer |

Jan

26


The credit union industry is unique in its willingness and eagerness to collaborate and work together to mutually help gain new members. Sharing ideas and success stories is commonplace among credit unions, and here at FLEX we are often asked by prospects about other credit unions using our core technology... why they chose FLEX and how the conversion went. Using our blog as a platform to share this information with readers felt natural, and we welcome you to our first monthly spotlight, "Tales from the Core", covering successful core conversions: TruService Community Credit Union.

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Credit Union Core Processing Reviews in Three Simple Steps

By Preston Packer |

Jan

13

core review tipsSelecting a great credit union core system is at the heart of every core review.  Some credit unions opt to outsource their review process by hiring a consultant to manage vendors, presentations and contract negotiations.  Others construct RFP's and send them out to potential core suitors as a way to drive core discovery.  Whether you plan to outsource or in-source your credit union core system review in 2016, consider these three points:

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Have Yourself a Merry Little Core System Review

By Preston Packer |

Dec

22

 

Measuring the Value of Your Core

'Tis the season to be thinking about what your credit union core processor should be doing for you, your employees, and your members. With the evolution (revolution?) of the way members bank today, and want to bank tomorrow, your core is more important than ever to remain competitive. As 2015 comes to a close, we take a look at 3 key benefits your core system should be providing your CU, and help you determine if it's time for your own core processing system review. 

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The Hitchhiker's Guide to Credit Union Core Processing Reviews

By Preston Packer |

Dec

15

The task of reviewing a new credit union core processing system can be overwhelming. With the rapidly changing world of consumer technology and the fact that your credit union members want to connect with you on their terms, you may find yourself hitchhiking across the credit union galaxy in search of a new core system. For any lovers of the humorous science fiction story "The Hitchhiker's Guide to the Galaxy" by Douglas Adams and those that may be new to it, enjoy!

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