Hippodrome Experts Panel: Avoiding Tech Gaps and Overlaps

By John San Filippo

Finopotamus has assembled a panel of credit union technology experts for a recurring series, The Hippodrome Experts Panel, where  technologists are asked a pressing and topical industry question. To close out Q1, 2024, the following query was posited:  As credit unions assemble their ideal technology stack, what’s your best advice on how they can avoid gaps and overlaps?

Respondents are presented in alphabetical order by company name.This edition of The Hippodrome Experts Panel includes answers from:

• Chris Cox, Chief Operating Officer, Apiture
• Landon Glenn, Chief Executive Officer, ASA
• Joel Legg, Vice President of Technology, Core10
• Philip Paul, CEO, Cotribute
• Paul Sheets, Executive Vice President of Customer Success & Services, Glia
• Tori VanCura-Rutland, Chief Growth Officer, HC3
• Shanon McLachlan, President of Credit Union Solutions, Jack Henry
• Nish Shah, Executive Vice President of Engineering, Kinective
• Pete Major, Vice President of Fintech Solutions, Member Driven Technologies
• Stuart Mackinnon, Chief Operating Officer, NCR Atleos
• Eric Brandt, Senior Strategic Market Analyst, NCR Voyix
• Brit Barker, Senior Vice President of Sales, Origence
• Pam Brodsack, Senior Vice President of Product Technology Delivery, PSCU/Co-op Solutions
• Will Bryant, Chief Operating Officer and Co-Founder, Quantalytix  
• Jamie Lovell, Chief Operating Officer, Shastic
• Brian Bodell, Managing Director of Fintech Solutions, TruStage
• Brian Kaas, President and Managing Director, TruStage Ventures
• Marcell King, Chief Commercial Office, Tyfone
• David Benskin, Founder and Chief Executive Officer, Wealth Access
• Scott Earwood, Director of Community Solutions, White Clay

Will Bryant, Chief Operating Officer and Co-Founder, Quantalytix  ‍

Navigating the myriad of technology options available while ensuring seamless integration and optimal performance within a tech stack is no easy task.

First, focus on laying the core components of the tech stack as a high-quality foundation to your organization. Typically, there will be a limited number of core systems that do the majority of the work. Establish a foundation of high-quality core components that directly contribute to your key objectives. Prioritize investing in robust core technologies that form the backbone of your operations. These core components should be chosen meticulously to ensure they align with your organizational goals and values. Also ensure that the customer support and service level of these core vendors is first-in-class.

Second, opt for solutions that have the capability to evolve alongside your organization.

Ensure that your vendor shares your vision for growth and is committed to fostering a long-term partnership. Look for flexibility and scalability that can accommodate your expanding needs over time. If a technology solution has the objective of being acquired in the near future, it is likely the product or service will change from initial form.

Third, seek supplementary systems that are open and play nicely with the core technology stack. While core components are vital, they should be complemented by supplementary technologies that enhance and expand your capabilities. Be discerning in selecting additional software or technologies, ensuring they seamlessly integrate with your existing infrastructure and contribute to the overall efficiency and effectiveness of your operations. In the long run, this will make managing the data within your organization much more fluid.

Seek vendors who are not just service providers, but true partners invested in your success. It's crucial to align with vendors who are dedicated to understanding and supporting your journey, offering ongoing support, and adapting their offerings to meet your evolving requirements.

Beyond the technology itself, prioritize vendors who deliver high-quality service and support. A strong service ethos ensures smooth implementation, ongoing maintenance, and resolution of any issues that may arise. By adhering to these principles and adopting a strategic approach to building and managing their tech stacks, credit unions can ultimately drive sustainable growth and remain nimble.

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https://www.finopotamus.com/post/hippodrome-experts-panel-avoiding-tech-gaps-and-overlaps