Core Migrations, Conversions, & Mergers White Paper
All member data lives on the core, and everything must connect to it. The core effectively operates as a credit union’s digital brain. Member contact information, personal identifying information, financial data, loans, accounts, preferences, history, interactions, notes, and so on, all are housed on the core, which impacts every task, process, employee, and member. Digital banking and other online services are effective tools only because of the real-time data these programs receive from the core.
Core migrations and conversions are significant undertakings and must be done securely and accurately. Moving member data, integrating the new core with complementing digital solutions, and training staff and members on the changes are a few of many considerations.
When two credit unions merge, member data from the two credit unions must be combined on a single core, presenting uniquely complex migration and conversion challenges.
Category: White Paper