5 reasons why credit unions should want their core in the cloud

Cloud adoption has continued to increase across the financial sector. And why not? Over the last few years, the benefits of using cloud based technology for your credit union has indeed become more popular, as some of the myths have been debunked and usage has become more widespread. Cloud-based systems can be customized and scaled to fit any size credit union and can bring efficiencies to your credit union’s core technology. Taking your tech into the cloud might be just what you’re looking for.

Here are 5 reasons why hosting your core technology in the cloud is a great idea.

Data security is a high priority for any business, but even more so in the financial sector. When switching over to core in the cloud, one of the great benefits is that the data is stored remotely, securely and redundantly. Choose a system and service provider that not only stores critical system and member data in the cloud but also documents and images. Rest assured that your critical data is effectively locked away and safeguarded, available only to you and your members.

The cloud will make your IT staff more efficient

Choosing to migrate to a service provider who can host your core technology in a cloud may sound like a huge undertaking but it will generate efficiencies and provide cost-savings in the long run. It will free up your IT staff and give them more time to work on member-facing tech improvements or projects. This can alleviate them from being tied down with daily maintenance, vendor management or disaster recovery planning. Removing the need for third-party vendors to help maintain your system also reduces cost and streamlines problem resolution.