Which Credit Unions Are Best Suited To Leverage The Cloud?
by Kirk Drake
If you are a credit union that is confused about whether cloud can benefit you and your company this post is for you. We see a lot of credit unions transitioning functionality into the cloud to capture the many benefits:
- Reduced costs
- Scalability
- Automatic Updates
- Work from anywhere on anything
- Business Continuity
- Access Community Expertise (DBA,compliance, web, mobile)
- Ease of Implementation
- Enterprise Security
- Collaboration
And, it even levels the playing field with a lot of mid-sized or large banks.
Unfortunately, I see a lot of cloud-based services that appear to be poorly integrated with core businesses. Think of that person who got a new paint job for their car, it never quite looks right. Similarly, credit unions that don’t have collaboration or a community spirit built into their DNA will have a much harder time adjusting to the cloud world. Unfortunately, because cloud will be so pervasive I have a very hard time believing companies will survive without adopting it. It’s like credit unions that refuse to accept a new regulation has changed how they can do business…it doesn’t really get easier the longer you leave your head in the sand.
The real opportunity is for credit unions to reinvent themselves in the digital age – not just from a member perspective but from an organizational perspective. Getting your organization to the point where you can communicate with members easily across all channels from anywhere. Enabling your employees to work with the modern office tools. Creating opportunities for rapid and spontaneous collaboration 1000 miles apart to help a specifc SEG (select employer group). Collaborating at a click of a button with the 5 credit unions in your area that want to offer a new service to compete with a bank. A community cloud built for credit unions offers: