The Top Five Credit Union Applications That Are Already Cloud Based
by. Kirk Drake
If you are a credit union IT (information technology) professional, credit union ceo, board member or somehow provide some oversight for the credit unions technology decisions, than this blog is for you.
Cloud = Already Happened
One of the bizarre aspects of cloud is that it means so many things to so many people. In reality, what is really going on is the general commoditization of key technology components. It is why Oracle bought Sun, IBM sold Lenova, and many other Cisco started making servers along side its routers. Ultimately, these decisions represent the blending of technology that can do more and more natively eliminating the need to buy seperate components. Many credit unions have already taken advantage of the beginning of this trend by leveraging virtualization, SANs, and VOIP. Each of these techonologies comodotized some component of the infrastructure that used to be stand alone while at the same time lowering price and improving reliability and efficiency.
Credit Union Cloud Applications
What many credit unions don’t already realize is that many of their existing services already rely on the basic components of cloud. Here are five key credit union applications that are already delivered via that cloud that you may not have realized:
- Online Banking (regularly hosted by a third party such as Digital Insight, Corillian, PM Systems or Online Resources)
- Mortgage Lending (Mortgage Bot and other lending systems are already delivered as software as a service ie. Cloud)
- Shared Branching (many of the components of the shared branching platform rely on VPNs with Internet underneath or middleware applications that run on cloud servers)
- MINT (another great example of a cloud based application your members are using)
- Service Bureau Cores (a fantastic example of cloud technologies enabling remote processing)