Description
Sometimes credit unions come to the conclusion that their strategy cannot be delivered with the constraints of their current core processing and accounting system. But replacing this component of the business is daunting and can be compared to major surgery – expensive, painful and risky. Yet still critical to survival – so what to do?
Todd Proulx, a consultant with vast experience of core system replacement projects, has written a paper for Swoboda on how to approach this vital issue.Todd offers wise advice on what might drive a credit union to switch providers, how to conduct a robust procurement process and some of the key functionality that a solution needs to be able to support. Todd concludes with the reminder that “a core system should never dictate or limit credit union business strategy.”
