PSECU upgrades banking system to Corelation’s KeyStone platform, harnesses new technological advantages to best serve its members
HARRISBURG, PA (October 12, 2018) — To harness the advantages of newer technology and continue offering the best and most efficient service to its more than 450,000 members, PSECU, Pennsylvania’s largest credit union, conducted a major upgrade over Labor Day weekend. Through the process, the credit union successfully converted its banking system to Corelation’s KeyStone platform.
“At PSECU, we’re focused on always providing our members with the best quality products and services,” said PSECU President Greg Smith. “Staying at the forefront of technological advancements is an important part of this commitment, as many of our members rely on our digital banking solutions to meet their day-to-day financial needs. Thanks to Corelation, our new banking system will be a solid foundation on which we can continue to build further enhancements for our members’ benefit.”
Working with San Diego-based provider of member-centric processor systems, Corelation Inc., PSECU’s system upgrades began the evening of Friday, August 31 with the extraction of data and transaction history from the legacy banking system. Within just 13 hours, the new system was in place and undergoing validation. By the evening of Saturday, September 1 – roughly 24 hours from the start of the process – all of the credit union’s member-facing applications were restored and functioning.
“In conducting our system upgrade, it was paramount that we minimize any potential disruption to the digital delivery channels on which our members depend,” explained Smith. “We worked closely with Corelation to put a very aggressive schedule in place to meet that goal, and in the end, it paid off. To have our systems up and running in roughly 24 hours was an incredible feat. We couldn’t have asked for a better outcome from our staff and Corelation.”
With its implementation, KeyStone brings an array of benefits. It is a relational database that is compatible with modern Java, JavaScript, C++, and C Sharp tools. KeyStone is also a flexible system with an application programing interface (API) that promotes user-friendly design. Because the KeyStone system operates online and in real-time, 24 hours per day, there is minimal downtime for members. PSECU will use the platform to efficiency by automating and streamlining internal functions.
“Technology will continue to play an important role in positioning credit unions to expand their services to their membership,” said Corelation President and CEO Theresa Benavidez. “It’s definitely a very exciting time to be participating in, and contributing to, the progression of tomorrow’s financial services. Credit unions today are looking for something new, effective, and reliable – and that’s what Corelation’s KeyStone provides.”
To prepare for the new banking system, PSECU’s more than 850 employees also completed around 1,000 KeyStone training sessions before the upgrade weekend. Upon leaving the classroom, they provided positive feedback about the future banking system. Their comments included:
- “The person-centric view will create much better member service.”
- “Information is all at your fingertips and is easy to read.”
- “I think the image selection will help us identify fraud on accounts.”
“We are incredibly proud of what our teams have accomplished,” added Benavidez. “It’s an amazing experience to be at the forefront of providing something so special for credit unions and their members.”
Greg Smith
About PSECU
Opened in 1934, PSECU was founded by 22 ordinary people who pooled $90 and made an extraordinary commitment to each other: To create a financial institution where collective resources benefit all members. Today, PSECU continues that legacy as Pennsylvania’s digital-first credit union, with $8 billion in assets, an economic impact of over $700 million, more than 590,000 members, and a convenient anytime, anywhere banking model. For more information about PSECU, visit psecu.com. PSECU has been recognized as a Best-In-State Credit Union by Forbes, a Best Credit Union by GOBankingRates, a Best Bank by Money.com, and one of America’s Best Banks by Newsweek. View its Year In Review to learn how PSECU contributes to the greater good.
About Corelation, Inc.
Based in San Diego, CA, Corelation is the innovative core processor for today’s credit union. This solution is a member-centric system that empowers credit unions to offer the best member service possible, enhancing their value for member attraction and retention. In terms of industry experience, Corelation’s staff has dedicated their careers to creating core systems and providing unparalleled client service. For more information, visit www.corelationinc.com.
