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Core conversions can be challenging for community banks but there are ways to make the process painless, according to the latest Independent Banker magazine.
Details: More banks than ever are operating on newer cores, according to the article, and it’s helpful to start looking for a new core 18 to 24 months before the current contract is set to expire.
Tips: After deciding to convert and calculating the costs, the article suggests:
Having internal conversations with everyone who will be involved with the new core.
Thoroughly evaluating providers.
Listening to feedback from peers.
More: The October issue of Independent Banker also features articles on specialized lending, email marketing, faster payments, and cybersecurity.
Access: The magazine is available on the Independent Banker website and via the digital edition.