Technology Integration Frustration: Find an Ally
Written by: Heather Papows, Senior Consultant Loan Servicing & Secondary Market
In today’s banking world, there is hardly a process that isn’t integrated with a form of technology: interfaces, file integrations, data exchanges, third party plug-ins, and the like. Using them and liking them are not always synonymous, however. Many institutions face challenges daily.
Institutions new to a platform or system often find their hands held through the buying process, but once the contract is signed or the product is delivered, they’re left with little help getting it customized to work for their own operation. Examples of this could include large scale items like an entire core platform or an origination system, or smaller scale such as a new loan onboarding interface.
Even institutions operating on seasoned, existing platforms can find themselves with ongoing challenges- as new data points are added to a source, or new requirements are rolled out, for example. It can be frustrating to take an existing process and be forced to adopt changes that don’t necessarily make it any easier for you.
When either of these situations arise, the institution has two options: ignore the challenges, or embrace the opportunities. Ignoring comes at a cost- you make minimal changes to the process, forfeit your right to understanding the core competencies of the system or enhancement, and run the risk of future challenges based on potential flaws and errors. On the flip side, embracing it as an opportunity can be a powerful choice- not only do you optimize the use, but you educate those involved in the process or system, setting you up for success now and in the future.
You have to make a conscious effort of working through the challenges to find opportunity, however. And that requires time, expertise, and persistence- a combination that can be hard to muster up these days. One way to set yourself apart is to find yourself an ally in the process, someone who is on your side, working for you towards your goals. Having that type of relationship with SCA can critically alter your entire operation: taking it from “just getting by” to “leading the way” – where you operate with confidence and accuracy, arm your staff with knowledge, and hold your technology providers the highest standard of providing you with the best use of that product or service.
To discuss how SCA can support the implementation or re-evaluation of a system or process, please contact Bill Dolan, Director, at WDolan@scapartnering.com or by phone at (617) 694-2617.
