Small Core Providers Pile On Plug-Ins: Print Preview
Fiserv and Symitar dominate the discussions around credit union core systems, but many smaller providers are nipping at the heels of the core giants.
Part 1 of this series detailed the players in the field.
A Corelation plus, per Benavidez, is that it is truly open. Other cores claim openness, she said, but with Corelation the credit union truly calls the shots when it comes to integrating add on services. “A year from now we will have at least five more credit unions on our core. We are growing,” she said.
Immense changes may be in the near-term future for core systems, particularly in smaller credit unions, and this is for two compelling reasons. To survive, most of those institutions will need, and quickly, to offer a fleshed out lineup of banking services right down to mobile remote-deposit capture, real-time person to person payments, mobile banking and the rest of the high tech goodies offered by big banks. Those small institutions also want to pare their costs in operating cores, an expense that more are grumbling about.