Whitepaper
A credit union's buyer's guide for digital banking platforms
New options are now on the table. This guide focuses on the decision that comes next: what kind of platform do you need, and how do you evaluate which to buy? For most UK and Irish credit unions, this is a first decision, not a replacement decision.
What You’ll Learn
What to look for, what it really costs, and the red flags to watch out for.
New options are now on the table. This guide describes how to choose one.
The real choice in front of you: control versus lock-in
A platform that looks affordable during procurement can become restrictive the moment your strategy changes.
What a platform actually costs over its lifetime, not just in Year 1
Most platform decisions get made on Year 1 pricing. But most of the real cost doesn’t show up until later.
The integrations you need: the ones you choose, not your vendor
Whichever route you take, this same principle applies: look for pre-integration with options, not the two extremes of a totally blank slate or locked-in integrations.
Questions worth asking every vendor
The red flags and green flags worth checking before you sign anything with any vendor
“Sadly there’s not just one bad apple, but an entire system of vendors that was always much more motivated to keep credit unions locked into their technology instead of supporting them to grow. I heard credit union leaders say they’ve been supplied with features described at times as “absolutely rubbish,” and the head of one technology provider once swore their system would never become more connected and open (giving credit unions more choice) “while I’m alive.””
Cornel DixonHead of Growth, PlumeryWhitepaper
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See how others did it.
Tell us your situation and we'll point you to the lesson that fits.