The brain of every credit union is its core computer system–the tabulation of every transaction and thus the essential record. But voices increasingly are heard that it is time for a substantial reevaluation of those core systems.
Few people have ridden the growing wave of mobile banking – or perhaps helped drive it – more than Drew Sievers.
Company claims 100 new credit union, bank customers for its mobile banking solution since June.
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.
Accept this reality: How corporate credit unions were will not be again, at least not soon.
Giant, encompassing mega-trends are remaking the credit union universe and before this is over, just about every credit union will feel the changes.
Hawaii State Federal Credit Union said it plans to convert to a new core processing platform from Open Solutions.
CUNA Senior Economist Steve Rick said in a recent News Now article that credit union delinquencies haven't been this high since President Reagan was in office.