Hey there, fellow banking enthusiasts. This week we want to dive into a topic that's making waves in the world of credit unions: how to gracefully bid farewell to those clunky old legacy systems. If you've been wondering how credit unions can stay nimble, relevant, and member-focused, keep reading because this is for you.
Legacy Systems (The Not-So-Secret Struggles)
Credit Unions, stand out in the financial services world as friendly neighborhood financial hubs, with many having been pillars of their community for decades or longer. These institutions are member owned and are always working to improve their member experience, through thorough and responsive support and with focused attention to the needs of their members. As times have modernized and the expectations of members have grown Credit Unions often find themselves in a bind, because their operations are being powered with the same legacy systems since… forever. These systems have their merits, sure. They've managed transactions, member data, and performed many vital tasks needed to ensure that the Credit Union can provide the services they need to their member base. But here's the kicker: these systems were born in a different era. They were developed in a time when the idea of how documents and data could be managed or exchanged with other systems was utterly different. It would be like trying to receive an Emoji on a rotary phone.
The result is that many Credit Unions are grappling with many distinct and difficult to manage challenges, leaving Credit Union workers in a place where they are required to be more and more productive with increasingly inefficient tools to help them. This can stifle innovation and jeopardize the positive member experience that is so vital to the Credit Union philosophy.
Now, it's time to introduce the solution, OnBase. Developed by Hyland Software, OnBase is like the software equivalent of a storybook hero, here to rescue credit unions from their legacy system woes. OnBase was developed to be able to bridge the gap between legacy systems and modern applications; a sort of grand connector that makes sure data flows effortlessly between old and new.
OnBase brings the agility Credit Unions need to adapt to changing member demands, shifting regulations, and allows Credit Unions to embrace innovation without the limitations placed on them by their Legacy systems. Members receive the best-in-class service they desire because the tedious time-consuming and often manual tasks from legacy systems can now be transformed into streamlined digital processes leading to faster response times and fewer errors.
Connecting Credit Union staff with digital documents and non-document data eliminates the need for paper-based processes saving time and money allowing Employees to be more productive than ever before. That increased productivity also has the benefit of helping the member base to expand without the overwhelming headaches that come from handling more members in a legacy system. OnBase is designed to scale with your organization and easily accommodate the increase in workload without breaking a sweat.
You might think that switching gears from legacy systems to OnBase sounds like a rollercoaster you'd rather not ride. But fear not, because OnBase has your back. OnBase brings its magic wand (and a bunch of experts from Datum Evolve) to make data migration a breeze. Say adios to downtime and data disappearing acts. Credit Union staff won't be left in the dark because comprehensive training and support are available and at the ready, ensuring everyone is sailing smoothly. Perhaps most importantly, OnBase is thoroughly customizable. It isn't one-size-fits-all software that forces you to change how you do business. In fact, its almost the exact opposite, OnBase is designed to be adapted and molded to suit the unique processes and needs of each Credit Union.
In the ever-changing world of finance, credit unions need to keep their eyes on the horizon. OnBase is the ticket to transforming how credit unions operate, thrive, and excel. It's all about ditching the legacy chains, embracing innovation, and treating members to a life-long banking experience that goes beyond their expectations.
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