Shifting core conversions to adapt to a new environment

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Joe Hensley, IBT Apps

Due to the impacts of COVID-19, the banking operational strategy has been forced to evolve. In order to stay competitive and continue delivering an exemplary customer experience, community banks must update their banking technology, which often means switching to a new core provider and undergoing a core conversion. But, a core conversion during a pandemic? How will this work?

A recent client partnered with us in March 2020—just as the nation was imposing COVID-19 restrictions. Faced with inevitable changes to the planned conversion process, we started navigating the different learning environment together to launch a new style of core conversion. In just a few months of the project, we had progressed through the learning curve of this new format and gathered a few insights to share with community bankers like you.

Insights for achieving a successful core conversion

  1. Let go of reservations and embrace the virtual possibilities.

The new environment opened opportunities for conducting conversions virtually. However, there is a common concern that it eliminates the hands-on training experience that many bankers find valuable. But, remember just because you’re in a different environment doesn’t mean the level of service changes. There are many options that enable you to hold face-to-face video calls and real-time interactions.

  1. Develop a conversion roadmap with your core vendor.

Plan on having a kickoff meeting with your vendor and the team members who will be involved with your conversion. Be sure the vendor reviews the conversion phases, activities, and timeline along with the training schedule and virtual options available. Take this time to voice any concerns and ask questions, so that your training is more effective, and you can overcome any issues along the way.

  1. Get access to training options that work for your bank.

Face-to-face training is preferable, but during the pandemic, virtual training may need to be an option. But, how do you know which platform is the best to use? Ask the vendor for their platform of choice and ensure it works with your bank’s infrastructure. Inquire what features they will be using to start familiarizing yourself with the functionality.

  1. Work with an ongoing, dedicated customer support team.

When your bank completes the conversion, what if you need troubleshooting an error? What if your staff need additional training? Just because the conversion has been completed doesn’t mean the work stops there. Make sure your core vendor’s support team is customer-oriented and responsive, so you get the answers you need when you need them.

Progressing forward amidst uncertainty

Rethinking and re-strategizing how banks do business is essential nowadays. Taking on a core conversion may not seem ideal; but in order to stay competitive and meet the demand of your customers, it may be necessary.  At IBT Apps, we know that your bank prides itself on delivering high-quality customer service and in times like these you need to be able to do so without interruption. Contact us to equip you with the technology necessary to adapt to the changing environment.

Learn more about IBT Apps. 

Joe Hensley, VP of Sales
IBT Apps