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SAFE, Symitar Find New Challenges & Opportunity in Virtual Conversion

Symitar’s conversion with SAFE FCU is its fourth virtual core conversion in the month of June.

By Frank Ready | July 17, 2020 at 09:00 AM
computer code connecting Source: Shutterstock.

Over the course of June 2020, the core processor Symitar went from having exactly zero virtual core conversions on its resume to four. Its experiences may not only permanently change the way Symitar and other vendors approach core conversions in the future, but also facilitate a more streamlined and efficient process that doesn’t rely as heavily on expense-heavy travel.

Still, virtual conversion success – at least upon the outset of the pandemic in March – was far from a sure thing. A core conversion, the process by which credit unions update the key systems used to process daily transactions such as ATM withdrawals or online and mobile banking, normally requires months of planning and onsite coordination for proper execution.

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