Martin Cole
Key Takeaways
- Switching to the KeyStone core system offers credit unions improved service excellence and a better relationship with their core provider.
- KeyStone’s person-centric system and open API allow for seamless integration with new and existing vendors.
- The user-friendly interface and ease-of-use of KeyStone make it an attractive choice for credit unions.
- Hawaii Community Federal Credit Union and Pearl Hawaii Federal Credit Union have both chosen to switch to KeyStone.
- Corelation, the provider of KeyStone, is dedicated to delivering top-notch software and exceptional client service.
Introduction
In the world of credit unions, the core system plays a crucial role in managing operations and providing services to members. It serves as the backbone of the institution, handling everything from account management to transaction processing. As technology continues to advance, credit unions are constantly seeking ways to improve their core systems to better serve their members and stay competitive in the industry. One core system that has been gaining attention is KeyStone, developed by Corelation. In this article, we will explore the reasons why credit unions are switching to the KeyStone core system and the benefits it offers.
The Need for a Better Relationship with Core Providers
One of the main reasons credit unions are switching to the KeyStone core system is the desire for a better relationship with their core provider. In the past, credit unions have often faced challenges in dealing with their core providers, such as lack of responsiveness, limited customization options, and outdated technology. This has led to frustration and a disconnect between credit unions and their core providers. KeyStone aims to change this by providing a more person-centric approach to core banking. The system is designed to prioritize the needs of credit unions and their members, fostering a stronger and more collaborative relationship between the two parties.
Improved Service Excellence
Another key factor driving credit unions to switch to KeyStone is the promise of improved service excellence. KeyStone offers a range of features and functionalities that enhance the overall member experience. The system is built with a user-friendly interface, making it easy for credit union staff to navigate and perform their daily tasks efficiently. Additionally, KeyStone’s open API allows for seamless integration with new and existing vendors, enabling credit unions to offer a wider range of services to their members. This flexibility and adaptability contribute to a more streamlined and personalized member experience, ultimately leading to higher member satisfaction and loyalty.
Seamless Integration with Vendors
Integration with vendors is a critical aspect of any core system. Credit unions rely on various vendors to provide services such as online banking, mobile banking, and payment processing. KeyStone’s open API makes it easy for credit unions to integrate with these vendors, ensuring a seamless and efficient flow of data and transactions. This eliminates the need for manual data entry and reduces the risk of errors or delays. With KeyStone, credit unions can easily add new vendors or switch to different vendors without disrupting their operations or member experience.
Switching to KeyStone: Hawaii Community Federal Credit Union and Pearl Hawaii Federal Credit Union
Two credit unions that have recently made the decision to switch to the KeyStone core system are Hawaii Community Federal Credit Union and Pearl Hawaii Federal Credit Union. Both credit unions have been using different core systems for many years but have recognized the need for a more modern and user-friendly solution. After thorough research and evaluation, they concluded that KeyStone was the best fit for their needs.
Benefits for Hawaii Community Federal Credit Union
Hawaii Community Federal Credit Union is scheduled to convert to the KeyStone core system in April 2024. The credit union was particularly impressed with KeyStone’s person-centric system, which aligns with their commitment to providing personalized service to their members. The open API of KeyStone also played a significant role in their decision, as it allows for seamless integration with their existing vendors and the potential to add new vendors in the future. Hawaii Community Federal Credit Union believes that the switch to KeyStone will enhance their operational efficiency and member experience.
Benefits for Pearl Hawaii Federal Credit Union
Pearl Hawaii Federal Credit Union has also chosen to switch to the KeyStone core system, with their conversion scheduled for June 2024. The credit union was attracted to KeyStone’s user-friendly interface and ease-of-use, which will enable their staff to navigate the system more efficiently and serve their members better. Additionally, the open API of KeyStone will allow Pearl Hawaii Federal Credit Union to integrate with their preferred vendors seamlessly. The credit union is confident that KeyStone will help them streamline their operations and provide a more personalized experience to their members.
Conclusion
The decision to switch to a new core system is a significant one for credit unions. It requires careful evaluation and consideration of various factors. For Hawaii Community Federal Credit Union and Pearl Hawaii Federal Credit Union, the choice to switch to the KeyStone core system was driven by the desire for a better relationship with their core provider, improved service excellence, and seamless integration with vendors. KeyStone’s person-centric system, open API, and user-friendly interface make it an attractive choice for credit unions looking to enhance their operations and member experience. With Corelation’s commitment to delivering top-notch software and exceptional client service, credit unions can trust that they are making a wise investment in their future.
