Modernizing Your Tech Stack

The Key to Credit Union Relevance and Success

In today’s fast-paced financial landscape, staying competitive means embracing modern technology. For credit unions, this isn’t just about having the latest gadgets or software—it’s about building a flexible, scalable tech infrastructure that serves your unique needs.

Enter Credit Union Shared Services (or CUSS) and the world of modernized tech stacks, which offer credit unions the tools and resources they need to stay relevant and thrive.

One of the most exciting advancements in credit union technology is the integration of our new CUSS portal—a gateway to industry-leading middleware and a prepopulated network of vendors mapped through an API. This modernized tech stack delivers immediate value by slashing non-recurring engineering costs (typically associated with implementation into vertical tech stacks) and offering credit unions flexible, cost-effective solutions.

The Power of CUSS and Our Modernized Tech Stack

CUSS is not a four-letter word. Instead, it’s a portal to help credit unions tap into a comprehensive API network that connects them to vetted vendors through a pre-negotiated consumptive pricing model. What does this mean? Flexibility. You get to choose the services and technologies that best suit your needs without the burden of excessive costs.

But the beauty of this system doesn’t stop at its initial setup. With the API-mapped structure, credit unions can continue to evolve and expand their tech stack. Whether you need to add ancillary services or integrate sub-processes to enhance the user experience, this approach ensures that your credit union remains relevant and competitive in an ever-changing industry.

Why Flexibility Matters

In the financial world, one size doesn’t fit all. That’s why the pre-negotiated pricing model is so beneficial. It allows you to choose the best services for your credit union while ensuring cost-effective solutions. Plus, the resource pool of middleware organizations, combined with secure connectivity, maximizes integration speed and security.

This flexibility is crucial for small and mid-sized credit unions that may not have the financial resources to invest in expensive, one-size-fits-all tech solutions. The modernized tech stack levels the playing field by providing access to the same cutting-edge technology larger institutions use—without the high costs.

The Importance of Relevance

Jennifer Oliver, CEO of Rize Credit Union, makes a powerful point: “This is not an attack on legacy; it is a question of relevance. We all want to believe and hold legacy leadership and legacy operations in the highest esteem, but it is time to update our thinking.” She emphasizes that small credit unions deserve access to the same knowledge, resources, and technology as larger institutions.

Something needs to change!

“Something needs to change!” Oliver says, pointing out that modernizing the tech stack is a critical step in creating a healthier, more competitive credit union system. By embracing modern technology, credit unions can provide better services to their members and remain relevant in a rapidly changing financial landscape.

Moving Forward with Confidence

The modernized tech stack represents a shift in how credit unions can operate and thrive. By leveraging the power of APIs, middleware, and secure connectivity, credit unions can reduce costs, speed up implementation, and create a more flexible, scalable system that serves current and future needs.

For those still holding onto legacy systems, it’s time to rethink your approach. Embrace the change. With a modernized tech stack, you can provide top-notch services to your members, stay competitive, and position your credit union for long-term success.

What’s your next step?

Come learn more about CUSS and its evolutionary approach to business at THRILLER, the next UNDERGROUND Collision, on October 26, 2024. You will not want to miss it! Register here.

---