BankSocial reposted this
FinTech Leader. Credit Union & CUSO Consultant. Crypto/ DLT Enthusiast, Educator and Author.
My latest insights... #creditunions #peoplehlepingpeople #notoosmalltosucceed
You KNOW I agree with everything you said. Most of the small credit unions I've worked with recently feel like they are being held hostage (literally) by their core processor. They cannot afford to get out. A $30M credit union was quoted $1.2 million de-conversion file fee. Seriously? This is criminal. Coming together and standing up to these core bullies is the only way to break free. And many are doing just that!
Good article Becky and it goes to the “core” of the problem. Hopefully more small credit union collaborations will occur.
Todd Weiden
1mo
Solid work
Ajay Hans
1mo
Great insight as always! Also work with a vendor that truly is a partner and be an innovator that solves challenges- outdated core challenges can be solved.
Senior Technology Leader | Global Software Development | Transformative Spirit | API | Integration | Web & Mobile | Emerging Tech | Financial Services | Collaborato
1moYes! As a technologist with over 20 years of experience in various industries outside of banking, I can confirm this perspective. Why hasn't banking fully embraced technological advancements yet? The technology revolution is just beginning to take hold in the banking sector, while it has already transformed many other industries over the past two decades. This is why I've developed such a strong passion for banking and financial services—change is upon us. Banks have the option to wait and see how things evolve and merely survive, but why settle for survival when you can thrive? Be a leader; be bold!