Build technology your way
There is a time and place for off-the-shelf products. And then, there are most definitely times when pre-built solutions don’t always fit the bill. In this case, what readily comes to mind is financial technology.
The fintech marketplace is packed with boxed solutions that work great in theory, but by their very nature, they cannot adapt to each credit union’s unique needs. In the end, these solutions too often fail to live up to expectations, leaving the credit union to continue to struggle, create work arounds, or even be forced to invest additional money into an alternative.
The work of credit unions is so important to members, so it’s equally important for credit unions to work with vendors on building technology in a way that precisely meets the needs of the credit union and the members. With the right vendor, this doesn’t have to mean a huge investment of time or money. Here are some examples of how you really can build technology your way so that it is right for you and your members.
Project Planning
One of the most critical steps to take before investing in fintech is project planning. During this phase, vendor teams should meet with both credit union leadership and staff members who actually play a hands-on role in the process in need of a solution. This serves as a vital opportunity for the technology experts to listen to your credit union’s challenges and create a plan for a customized solution, which can range from an app built from the ground up to an existing solution adjusted to suit the unique needs of the credit union. The project planning phase can also give your credit union the opportunity to set timelines and receive guidance on what to expect for the project development.
Automation and No-Code Technology
In many cases, what your credit union may need is something truly customized and built just for you. Fortunately, with the right team by your side, this doesn’t have to mean investing in a project that requires months of development and a major outlay of funds. With deceptively simple automation “bots” that can deploy across a number of your existing systems, the credit union can perform repetitive, tedious, and even complex tasks quickly, efficiently, and flawlessly for minimal investment.
For something more in depth, but still fast and affordable, a no-code app can provide your staff with a user-friendly interface for processing data and accomplishing countless tasks. Both automation and no-code apps offer outstanding opportunities for your credit union to build technology your way without wasting time or money.
Pre-Built, Customizable Solutions
If your credit union needs something more comprehensive and far reaching, a customizable pre-built solution can offer you what you need without the costs associated with custom coded software development. Things like relationship manager solutions or digital banking solutions are great examples. It’s not enough to simply hand over a solution and wish our clients good luck. Customization is key to building technology your way.
Staff Augmentation
Another way you can build technology to fit your organization is to try IT staff augmentation. With this outsource approach, IT experts can join your team as needed on a full-time or part-time basis to build additional technical capability for you. This means you don’t have to interview and hire on your own or pull employees (who may lack the proper expertise) from your own staff to build solutions. Choosing IT staff augmentation gives your credit union a lot of flexibility and can help the credit union save time and launch solutions faster. Credit unions have the flexibility to ramp up or ramp down their efforts based on their internal bandwidth at the credit union. When going this route, be sure to work with an outsource provider that provides fully vetted IT engineers who also understand the importance of effective communication, which can make or break the development of any project.
Whether you customize a pre-built solution, go for no-code or automation software, or give IT staff augmentation a try, building technology your way doesn’t have to be costly or difficult. Instead, it can be fast, easy, affordable, and – most importantly – effective, just the way you want it. For more information about CU NextGen, visit cunextgen.com or call 1-800-311-3928.
