LAS VEGAS -
Scott Burwell, of San Diego-based Symitar Systems, said the question he and his counterparts at the company hear most often from clients and potential clients has to do with compatibility with other solutions. There are "so many things from a regulatory, compliance and competitive point of view going on that it is forcing credit unions and banks to use more than core systems," Burwell observed.
In Symitar's case the company offers SymConnect as its bridge to other solutions providers, with Burwell noting Symitar frequently hears it offers the "richest access" of any such product.
"One of our strengths is flexibility combined with openness," said Burwell. "We let the credit union shape the system. We do not want to be the thing that limits their business strategy. "
During a recent trade show Burwell said he heard from credit unions seeking greater abilities to add new members online and to better recruit and penetrate Generation X.
He noted that credit unions also share many of the same competitive pressures as the banks. "They feel the pressures of indirect lending and the peer-to-peer lending," he observed.
