Decoupling Legacy Systems: A Strategic Approach for Credit Unions

Amber Harson, the Vice President of Credit Unions at Mambu, articulates the pressing need for credit unions to modernize their core banking systems to facilitate growth and better serve their members. The conversation delves into the challenges posed by legacy systems that inhibit innovation and integration, emphasizing the importance of adopting composable core solutions. Harson shares how Mambu's approach allows financial institutions to decouple their core functionalities, thereby enhancing flexibility and enabling the integration of tailored fintech solutions. Furthermore, the discussion highlights the critical role of education and collaboration among credit unions to navigate the complexities of modernization effectively. As the financial landscape continues to evolve, this episode serves as a clarion call for credit unions to embrace change and leverage technology to uplift their communities.

Amber Harsin is the Vice President of Credit Unions at Mambu, where she leads the organization’s efforts to modernize North American credit unions through composable banking. With nearly 30 years of experience in the financial technology sector, she is a recognized expert in helping financial institutions move away from legacy core systems to embrace scalable, cloud-native infrastructure.

Before joining Mambu, Amber served as the CEO of Prodigy, a credit union service organization (CUSO). During her tenure, she famously led the company from 27 years of unprofitability to its first-ever profitable run, culminating in a successful acquisition in 2024. Her career began on the front lines as a credit union teller, and she has since held nearly every role in the industry—from loan officer to conversion specialist to Chief Product Officer.

A passionate advocate for the credit union mission of "people helping people," Amber is a Credit Union Development Educator (CUDE) and serves as the Utah Chapter Chair for the Global Women’s Leadership Network. She is a frequent speaker on digital transformation, the importance of true SaaS in banking, and creating community impact through financial literacy and local job growth.

Takeaways:

• The transition towards composable core banking systems allows credit unions to modernize incrementally rather than engaging in disruptive, large-scale core replacements.
• Credit unions face significant challenges with legacy systems that hinder their growth and ability to innovate in the digital banking space.
• The importance of understanding and negotiating core vendor contracts cannot be overstated, as they often dictate the limitations on operational flexibility and modernization efforts.
• Embracing technology requires credit unions to rethink their operational strategies and how they engage with fintech solutions for better service delivery.
• The journey of modernization in credit unions is not uniform; each institution must assess its unique circumstances and strategic goals to determine the best path forward.
• A collaborative approach among credit unions can foster shared technology resources, leading to cost efficiencies and enhanced service offerings for their members.

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