For credit unions, the core banking platform is the primary system of record for members and accounts, and arguably the most important technology choice. The right core strategy starts with understanding future expectations, current needs and what solutions are geared to your business model. Here are five things to consider when making your decision.
- How does your core system affect your member experience?
Credit union members can have high expectations for personalized attention and customer service. Often, that’s the very reason they chose to establish a relationship with your institution. When your employees serve your members, what does the experience look like? When they look a member up in the system, do they pull up an account or an account holder? If your core is able to provide a snapshot of the account holder, every employee who interacts with a member has a holistic view of that member. This means your staff aren’t offering products and services that a member already has, or taking a long time to access the information they need to provide superior service.continue reading »