We recently completed a conversion of our core operating system. After much research and deliberation, we chose the Episys core platform from Symitar ®. Symitar’s ability to integrate with hundreds of vendor applications initially attracted us to the product–but its ability to simplify the data processing system sealed the deal.
The conversion to Episys was completed in early May after 13 months of hard work and planning by our staff. Throughout the preparation, staff were engaged in personalizing the individual pieces to better meet the needs of members.
According to Symitar, they are the leading provider of core systems for U.S. credit unions with assets exceeding $50 million. More than 680 credit unions currently rely on the Episys platform for their data processing needs.
“This product is well designed to improve our overall operations,” said Debbie Meyer, Vantage Project Manager. “If we can cut costs and reduce back-office workloads, then we can spend more time focusing on our members and their needs.”
The new account opening and loan processing system streamlines processing times and efficiencies, provides better marketing capabilities and updates multiple online functions, including personal loan applications and individual mobile applications, thus reducing the need for multiple systems on the back end, and providing faster service and delivery on the front end, without adding to staff.
The internet loan application is brand new. It’s a guided, simple and mobile-responsive application that now includes the ability for members to calculate their estimated monthly payment based on loan type, loan amount, term and credit score to help them decide whether or not they’d like to proceed with their application.
The automated phone access system is also new and incorporates two former systems into one, making it more efficient from a support and enhancement standpoint.
The new Customer Relationship Management (CRM) system will improve communications and work flow to better serve members. It reduces the need for multiple systems. Employees essentially can learn one system as opposed to the original three, enabling them to better nurture each member relationship.
This type of conversion is a major undertaking for any financial institution, but will be well worth the effort for years to come. We look forward to being able to better serve the financial needs of our members.