It is one thing to boast about communicating with users, it is quite another to actually build a core processing system using customer collaboration, such as Layton, Utah-based CUProdigy does.
The foundation of CUProdigy's capabilities centers around its cloud infrastructure and cloud-only implementation method, which according to Anthony Montgomery, CEO of the CUSO, allows them to be more nimble and agile. “This, in turn, makes it easier to implement new features.”
Montgomery pointed out the browser-based software does not require credit unions to update and/or deploy. “We also handle all the server software in the cloud. If we had traditional legacy architecture, it would be much harder for us to develop and implement new features.” He added CUProdigy could not release updates frequently if burdened with legacy architecture.
Montgomery said it makes deployment simple by releasing smaller amounts of code. “The credit unions actually prefer CUProdigy's more frequent releases. One obvious reason is they do not have to wait a year to receive something that can benefit them today. This keeps their code nimble.” In addition, it is easier to understand and manage several smaller releases of code as compared to a large annual release all at once.
As a CUSO, the owners get to determine the direction and prioritize what goes into development for future releases. These updates to their core processing system all begin with feedback from their credit union base.
“First, it's important to realize that feedback mechanisms must align with a core-software provider's release mechanisms. For example, a high-frequency feedback cycle coupled with a low-frequency release cycle does not mesh well. Release cycle frequency further drives business philosophy decisions,” Montgomery said. “CUProdigy has deliberatively chosen to be a nimble, agile software development company. As such, our release capabilities are built around frequent releases and we release 11 times a year.”
Second, CUProdigy has developed feedback mechanisms that support these smaller, more frequent code releases. They use three primary feedback mechanisms.
Roy MacKinnon at president/CEO at the $200 million Lancaster, Calif.-based Edwards Federal Credit Union, noted that even though his credit union just recently signed on with CUProdigy for a core implementation about a year from now, it experienced firsthand the feedback process. “It's a very collaborative core as compared to other for-profit cores.”
MacKinnon explained he has had two experiences with CUProdigy's cooperative approach to date. One was during the screening process during Edwards' new core search last spring and summer. Eventually Edwards signed a contract with CUProdigy in August 2017 and is scheduled to convert in October 2018.
Read the full article in the Nov. 1 edition of CUTimes.
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Roy Urrico
Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).
