Do you feel your credit union core system has provided any realistic innovations recently? According to Scott Hodgins, Research Director at Cornerstone Advisors, core providers were providing a less than worthy effort heading into 2013. You can read his article "Demand Realistic Core Innovations in 2013" here. Now that we are midway through 2014, where does credit union core technology and related innovation stand today?
At first glance it should be noted that in Mr. Hodgins’ article, he discussed only the largest players in the credit union core technology marketplace. Evaluation of only the largest core providers is an accepted practice among consultants. While certainly important, these are not the only credit union core providers, and as the article effectively illustrates, these companies are most interested in acquiring technology, not developing it.
Is it possible that only looking to the largest providers in credit union core technology is the reason why innovation is stuck on empty?
There is innovation occurring in credit union core technology, it just might not be happening where you would expect to see it.