Independent Banker - December 2018 - 74

CONNECTIONS
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By Cary Whaley, ICBA
Core competencies
Community banks are taking a page out of
ICBA's Core Processor Resource Guide for
better vendor relations.
athy Underwood was " nervous " to go
through the core conversion process. " I read
somewhere that undergoing a core conversion
is like doing a heart transplant on a person running
a marathon, " recalls the president and CEO
of $485 million-asset Ledyard National Bank in
Hanover, N.H.
But Underwood's community bank was left with
little alternative if it hoped to achieve its longterm
business objectives. The straw that broke
the camel's back was when Underwood found out
her provider couldn't support the bank's plans for
instant card issuance. " That's when I said, if they
can't do something like that, then they aren't our
partner going forward, " she says.
It was about that time that Underwood learned
that ICBA's Core Processor Resource Guide was
nearing completion. The guide aims to help community
banks like hers evaluate their core processor
to maximize their return on investment.
74 Q ICBA Independent Banker Q December 2018
K
Underwood admits now that if she had the core
processor guide earlier, her community bank
" probably would have undertaken [the system
conversion] years earlier. "
Underwood adds, " One of the things the guide
did was reinforce our belief that we needed a
true strategic partner. She says Ledyard National
Bank ended up bringing in an outside consultant
" because we weren't moving fast enough on our
own. " Even with an expert's assistance, Underwood
says, ICBA's guide was a valued resource.
The consultant " followed the steps that the
guide gave us, which was very helpful in working
through the process. "
Mike Parisi, Ledyard National Bank's senior
vice president and senior retail banking offi cer,
agrees. " I particularly liked the strategic questions, "
he notes. " These questions became especially
important when we had our provider list
narrowed down to which system and which partner
would help us achieve our strategic goals. "
He advises other banks looking to improve
their core processor relationship to " take time
to explore [your] options, and task the providers
Cary Whaley
(cary.whaley@
icba.org) is
ICBA's first vice
president of
payments and
technology
policy

Independent Banker - December 2018

Table of Contents for the Digital Edition of Independent Banker - December 2018

Table of Contents
Independent Banker - December 2018 - Intro
Independent Banker - December 2018 - Cover1
Independent Banker - December 2018 - Cover2
Independent Banker - December 2018 - Table of Contents
Independent Banker - December 2018 - 2
Independent Banker - December 2018 - 3
Independent Banker - December 2018 - 4
Independent Banker - December 2018 - 5
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