The team at the credit union evaluating all of the vendors for various strategic projects including a Core Evaluation, Credit/Debit, PIN Network, and Technology Assessment was doing so together for the first time. It had been years since our credit union had evaluated these technologies, so we asked ourselves if we could do this evaluation better than a group that sees and works with these technologies every day. We knew the depth of industry knowledge that the Engage fi team brought to the table was unparalleled, so we brought them in as an extension of our team. The Engage fi team made us feel extremely confident that the vendors we selected are best for our strategic initiatives and direction as well as making sure that we are keeping up with industry trends so that we can stay competitive in our market. We gained a better understanding of some key investments we made in order to execute on our strategic initiatives.
Ask yourself when the last time it was that your credit union did these types of projects and how aware are you of the current landscape of those projects. For us, before using Engage fi our credit union had done two card processing evaluations in 20 years. Many of the personnel that participated in those evaluations were no longer with our institution and we didn’t have a full grasp on how a winning partnership should be structured. The industry knowledge and trends that Engage fi brought to us was invaluable. My advice is to realize that their team does these projects every day, they know the industry pricing trends, they know the technologies, leverage their expertise, you may only do these projects once every 7-10 years, they do it every day.
The investment in Engage fi is absolutely worthwhile. We know that vendor relationships will ebb and flow throughout the life of our contracts. Engage fi made us feel confident that the vendors we have selected will still be the right ones when challenges arise. The confidence in our selections are why we are incredibly thankful for Engage fi.
Chris Giles | CXO | Maps Credit Union