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May 2009
In this Issue:
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OneBridge Welcomes Unified People's Federal Credit Union
 We are excited to announce that Unified People's Federal Credit Union in Cheyenne, WY has chosen OneBridge for their credit, PIN debit, and ATM card programs.
The credit union started in 1936 as Cheyenne Union Pacific Employees Federal Credit Union and their first office was a caboose located in the Union Pacific Railroad yard.
Unified People's Federal Credit Union is planning to go live with the OneBridge Gateway Credit, Debit Connection, and ATM Terminal services later this year.
Please join us in welcoming Camille Shillenn, President of Unified People's FCU, and her entire staff to OneBridge!
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Choosing the Right Core Provider: Client Tips
Are you evaluating a new core solution and provider? As you know, selecting the right partner is paramount to remaining competitive and not only providing quality products, but continuing to deliver a great service experience to your customers and members. Because your credit and debit card programs are two of your most essential products, we thought we would share some "Client Tips" straight from other OneBridge clients who have converted core systems.
Doug Wilkerson, President of RTP Federal Credit Union in Research Triangle Park, NC and
Doreen Ottemoeller, Vice President, Finance of Capital Credit Union in Bismarck, ND are two OneBridge clients who have been through the process. Here are a few of their tips on how to best approach the evaluation and selection process.
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Do your due diligence. This is probably especially important in today's economic times and probably the most difficult.
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Consider using a consultant to help you make the decision. They can be more objective and help your team stay on track.
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Keep a business mindset about the process. If you find yourself liking a particular product because of the sales team, stop and refocus. Are the sales people experienced with the product and industry?
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Consider what areas you want to grow and focus on in the long term. Does the new provider's solution meet or exceed your needs for these products and services?
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Look at the contract early in the process. Get your attorney to review it and advise you. Is there a way out of your contractual obligation if there are substantial delays on your conversion and they miss the live date?
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What is the provider's reputation for support and service? Look at the company's growth rate and talk to their clients. Find out how many new clients have converted in the last year - identify and talk to each of them. How many clients have they lost in the last five years and why? Their willingness to be forthcoming with this information is probably an indicator of how honest and reliable they are.
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Make the most of product demos. Before you look at the first demo, identify system functionality that is not negotiable. What things must you have? What things would make you walk away from a demo? Is the demo the exact same release that is planned for installation at your institution? How much is new, recently developed or currently being developed? What, if any, functionality will you lose?
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What's the provider's reputation for adopting and rolling out new technology? Are they technology leaders? How many systems updates do they provide each year? How many program fixes? How many program fixes have they installed in the last two years? Find out from their current clients how successful program fixes are? Do they break working functions when they "fix" broken issues?
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How will they approach training? Do they have a well written, documented training program that you can see before you sign the contract? Do they have well written system support and procedural manuals? If they don't, and you are told that they are being revised, decide if you will be satisfied if you never get them. Find out from their clients if pre-conversion training was sufficient.
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How do they approach conversions? What are their plans for pre-conversion testing? How do they plan to test for real-time functions? Talk to clients that have been on the system between 6 months and a year. Interview them about the conversion. Would they make the same choice again?
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Prepare for the unplanned. After going live, most institutions find something that the new system doesn't do which creates the need for custom programming. Find out their pricing for custom programming in advance because you may need it down the road.
Evaluating any new partner is a time consuming process. This is especially true when it comes to something as vital as a core system provider. A well planned and thorough approach will put you on the road to success!
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Managing Your Card Inventory
Your card inventory is one of the most essential elements of your card program and a piece of the card management process that is often overlooked. Certain precautions should be made to ensure you carry the appropriate inventory to fulfill the needs of your programs.
If your card files are processed through OneBridge, you receive an inventory report via email each month. The inventory report provides previous and current month totals for the following:
- Plastics
- Custom inserts, mailers and activation labels (if used by your financial institution)
Your inventory report will also reflect any items you may have on order. If an item is getting low based on average usage, it will be noted on your report in red.
Recommendations
We recommend that at least twice a year, if not quarterly, you query your accounts to determine how many cards will need to be reissued over the next six months. This action will ensure that you have plenty of stock, plastics and other materials for your newly issued and reissued card needs.
If you receive a CAMS alert, reviewing your card generation inventory is essential. If you decide to mass reissue cards, you will want to be sure there is enough stock to also continue with regularly scheduled reissues as well as any new accounts.
Finally, not only should you monitor your inventory report for quantity of items, but also for what items are being used. For instance, are you aware of the message on your inserts? Is the message current? If you are not sure, please contact Client Service and we will be happy to provide you with samples and tell you exactly when they are being used.
If you have any questions or concerns about your inventory please contact OneBridge Client Service at clientservice@onebridge.com or 800.322.4035.
Note: If another provider processes your card orders, you should be receiving a similar inventory report from them.
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Visa News
Visa has announced that May 19th is the deadline for Issuers to file fraud claims against Heartland and RBS Worldpay in order to be considered for ADCR (Account Data Compromise Recovery). In order for fraudulent transactions to qualify, the Fraud Advices must be submitted on the transactions as counterfeit (Fraud Type 4) on full magnetic stripe read transactions (POS 90).
Visa Inc. Posts Strong Fiscal Second Quarter 2009 Earnings Results and Reaffirms 2009 Adjusted Diluted Earnings Per Share
Visa Inc. (NYSE: V) today announced financial results for the company's fiscal second quarter 2009 ended March 31, 2009.
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Client News
We love when great things are happening with our clients!
CD Federal Credit Union Celebrates 55 Years of Success!
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Industry News
Here are some interesting stories related to the payments industry that made headlines recently. A link to the full article is included below each summary.
In an article titled "Debit-Card Use Overtakes Credit ", Robin Sidel writes for the Wall St. Journal about the increasing usage of debit cards by US consumers.
A Look at US Debit Card Spending
paymentsnews.com
The financial services industry, presumably like any service industry, has always struggled with the question "what is a product"?
Why Debit Cards Aren't a Product
paymentsnews.com
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