There has been a lot of talk and discussion lately about one cloud and server virtualization capabilities. If you are like most people, you’re probably wondering what all the fuss is about.
Virtualization allows credit unions – along with any organization that requires the use of multiple servers – to save money, time and space to reallocate to other pressing areas.
Credit unions confront a very challenging operating environment today. They face strong member demand for many cutting-edge financial products and intense competition from other financial institutions.
Around 10% of credit unions looked to upgrade their core banking systems last year, marking a significant increase from the historical percentage average of 4% to 5%, according to two new reports from Boston-based financial research and consulting firm Celent.
Think firm says 10% of credit unions began looking at core processing system upgrades last year.
Private cloud computing now is an outsourcing option for core processing clients of FedComp Inc. of Fairfax, Va.
FedComp Inc. said it has added private cloud computing as an outsourcing option for its core processing credit union clients.