When it comes to credit union data processing, there are many “do’s” and “don’ts”. Some credit unions get along great with they core partners, others… not so much. No matter what your status is with your current core, it’s important to keep your head on straight and remember the basics. Here are 10 commandments that may invoke some deeper thoughts into how your core processor works with your credit union:
Worship no credit union core processor: Credit union cores are not God. You may have found what you believe to be the holy grail of core processors, but the industry is always changing and evolving, and if your core is not keeping up with the demands, it is perfectly acceptable to look elsewhere for redemption. When was the last time you performed a core system review? Not sure where to start? Read our blog: Credit Union Core Processing Reviews in Three Simple Steps.
- Do not make yourself an idol: You know your credit union, you know your members, you have faith in your staff. However, when it comes to technology, it is sometimes best to seek some guidance outside yourself. And while consultants abound, they don’t always have the best intentions in mind. Many consulting services create a time-consuming process designed to project value, yet conclude yielding a predictable brand name in order to achieve a risk averse objective. Rather, look at creating a team of internal experts that represent every business and transactional segment during the review process. Read our article: Core System Reviews: the Good, the Bad & the Consultant.
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