Core processing app stores thrive on collaboration

A decade of cooperative support enables core processors to help credit union clients save time, money, and energy and better serve members.

It’s been a decade since core processors introduced their own app stores to client credit unions, and the results since then reflect the collaborative nature of the movement itself.

Open Solutions introduced its DNAappstore on May 3, 2011, at a users conference. Fiserv bought the Connecticut-based Open Solutions two years later and now operates the store as the AppMarket. Arch-rival Symitar introduced its own PowerOn Marketplace on Aug. 15, 2012, as a centralized community resource for Episys users to share and review credit union- and company-provided upgrades to its flagship platform.

Since then, credit union clients have used the app stores — and their core processors’ application development and testing environments — to not only improve their technology but also their response to market needs.

Symitar president Shanan Mclachlan says that capability was an vital resource during the coronavirus pandemic, as the company and its clients rushed to adapt their core systems to handle the soaring use of digital banking. Credit unions built-out features for existing notions, such as skip-a-pay options for loans, as well as for entirely new products, like PPP loans.

 

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