No love lost: What credit unions can expect from cores of the future
- February 15, 2019
- Stephen Rea, UCI anthro post doc, and Taylor Nelms, UCI anthro Ph.D. alumnus, explain in the Credit Union Times
Banking has always been about good record-keeping, but today, more than ever, financial services is fundamentally data services. As the foundation (often literally) of transactional processing and maintaining a system of record, core platforms are critical to credit unions’ ability to store, access, use and see value from their members’ data.
Today, members’ daily financial tasks involve much more than simply making deposits and taking out loans, and those tasks are completed more commonly through online and mobile channels. In this environment, cores provide another important service: Enabling credit unions to plug third-party applications into their suite of service offerings.