Migrating to a new core? Read this first.

Much of the technology that underpins core solutions was designed to service banks in an era that looks vastly different from today’s banking environment—though many providers are now modernizing their platforms to meet today’s requirements. One major core banking solution provider has begun consolidating its platforms, and industry analysts expect others to follow suit. As such, banking providers may find themselves needing to migrate to a new core.

While migration can create many headaches for banking providers, it also creates an opportunity to reevaluate their ancillary services that may be tied to the existing core. Although using a core for document composition and delivery solutions is convenient, there’s often less flexibility for design changes and individual focus on your own communication goals. Because customer communications are one of many priorities within a core platform, timelines for changes may not always align with a bank’s requirements for communication updates.  Choosing a dedicated customer communications management vendor offers flexibility and agility.

When cores began offering customer communication services, it was an easy yes for banking providers. Only dealing with one service provider simplified their operations.

However, the simplicity came with tradeoffs. Banking providers discovered that requesting changes to their customer communications involves additional costs and lead time and resources that may already be constrained.

A core provider's main focus is on the backend systems that power banking operations, while communications often represent a complementary service. Ancillary services such as customer communications might simplify their relationship with banking providers, but it might not be the right choice for every bank.

Today, dedicated customer communications providers are often selected to work alongside modern core platforms, helping banks extend their capabilities while preserving flexibility and focus.

The benefits of working with a customer communications outsourcing partner

As cores consolidate, banking providers need to think about what will best help them deliver their communication goals?

There are several benefits to working with a customer communications management provider:

For over three decades, Computershare has worked with banking providers to deliver compliant customer communications that drive desired customer behaviors. We offer integrated communication solutions that incorporate design, composition, and multi-channel delivery to streamline operations, reduce risk, and improve your customer experience. To learn more about our customer communication services, contact us today.