Credit union executes successful virtual core conversion to MDT, increasing efficiencies and providing a more modern member experience with new core
Peoples Advantage Federal Credit Union has successfully implemented the Episys® core processing system hosted by Member Driven Technologies (MDT), a CUSO that provides a private cloud alternative for core processing and IT needs. MDT hosts the Episys core from Symitar®, an industry-leading provider of technology solutions for credit unions of all sizes, as well as multiple complementary solutions.
Petersburg, Virginia-based Peoples Advantage FCU is committed to providing the underserved, unbanked and no credit population with better, easier access to financial services and guidance. The credit union decided to implement MDT to drive efficiencies and provide a more robust experience to members. Patsy Smith, president and CEO of the credit union, stated, "With MDT, we are increasing productivity across the institution; the system’s automation streamlines processes and allows us to accomplish more with our existing resources. Plus, we are now able to deliver a more modern, intuitive member experience, which is a strategic imperative today."
Peoples Advantage FCU’s conversion was initially planned to be completed onsite, but the team had to quickly switch gears to a virtual conversion because of the COVID-19 pandemic. Even though the physical separation presented unexpected obstacles, the credit union, MDT and Jack Henrysm came together to execute a successful, timely migration.
Smith added, "The team’s enthusiasm, dedication and teamwork were unrivaled throughout a very challenging situation. MDT and Jack Henry stepped up to the plate, working very strategically and closely with us throughout the process and embracing open dialogue and quick adjustments to ensure success. Now, we have a robust, open core that delivers a much-improved experience for our members and employees and positions us favorably for the future."
"Savvy institutions like Peoples Advantage FCU understand that their technology strategy directly impacts operational efficiencies as well as the member experience," said Larry Nichols, CEO and president of MDT. "Through our partnership, the credit union can now streamline processes, reduce time spent on tedious manual tasks and more quickly deliver the sophisticated features and functionality today’s members expect."
About Member Driven Technologies
Member Driven Technologies (MDT) provides a private cloud alternative for core processing and IT needs. The CUSO hosts the Episys® core platform from Symitar®, as well as dozens of complementary solutions and supporting services to help run the entire institution, such as digital banking, payments, lending, security, continuity and regulatory solutions as well as imaging, consulting and hardware purchasing services. MDT’s open platform allows credit unions to seamlessly integrate with virtually any technology provider of their choosing. By alleviating the technology burden, MDT frees credit unions to focus more on member service. With the CUSO’s hybrid approach to outsourcing, credit unions across the country are boosting efficiencies, enhancing cybersecurity and business continuity and reducing costs. MDT serves credit unions representing more than $22 billion in assets and approximately two million members. Visit mdtmi.com or follow @memberdriven for more information.
About Jack Henry & Associates, Inc.
Jack Henry (NASDAQ:JKHY) is a leading provider of technology solutions primarily for the financial services industry. We are an S&P 500 company that serves approximately 9,000 clients nationwide through three divisions: Jack Henry Banking® supports banks ranging from community banks to multi-billion-dollar institutions; Symitar® provides industry-leading solutions to credit unions of all sizes; and ProfitStars® offers highly specialized solutions to financial institutions of every asset size, as well as diverse corporate entities outside of the financial services industry. With a heritage that has been dedicated to openness, partnership, and user centricity for more than 40 years, we are well-positioned as a driving market force in future-ready digital solutions and payment processing services. We empower our clients and consumers with the human-centered, tech-forward, and insights-driven solutions that will get them where they want to go. Are you future ready? Additional information is available at www.jackhenry.com.
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