Core Processing Quandary: In-House or Service Bureau?
When a credit union approaches the all-important task of determining whether to reach out to a service bureau or assume all related responsibilities to maintain an in-house data processing system, a number of quandaries immediately arise.
The first issue centers on the asset class, size and geographic location of the credit union. For many small-to-medium organizations, the ability to effectively oversee an information technology operation is not feasible and therefore relying on a third party is essential to success. And for larger credit unions, with a dedicated IT department, it may be prudent to handle all operations in-house, which provides more flexibility when selecting hardware, software and third party solutions, as well as dealing with contract negotiation of services.
Perception vs. Reality: Checklist to Selecting