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Change is never easy—especially when it involves the technology that keeps your financial institution running. Loan origination and account opening systems aren’t just software; they’re the foundation of your ability to serve consumers, drive revenue, and maintain a healthy balance sheet. These systems power life-changing financial moments for your accountholders and ensure your institution remains competitive.
It’s certainly understandable that the thought of migrating to something new can feel overwhelming. What if there’s downtime? What if it’s too complicated? What if your team resists? Or worse, what if your accountholders aren’t happy? These concerns are valid.
But there’s a bigger risk: What happens if you don’t evolve?
Let’s break down the most common fears we hear from financial institutions when it comes to upgrading to modern banking technology—and why staying put may be the costliest choice of all.
Fear #1: Migration will be disruptive.
No one wants downtime or a messy transition, but the real disruption comes from sticking with outdated systems. Manual workarounds, slow processes, and compliance risks create ongoing inefficiencies that drain resources and frustrate both employees and accountholders.
So, don’t rip and replace everything, everywhere, all at once. A phased approach helps control costs, reduce risks, and make the transition more manageable. By rolling out upgrades in stages, financial institutions can maintain stability, showcase early wins, and gain buy-in from employees and leadership. Small, strategic improvements build momentum—proving the value of modernization without overwhelming your team.
Fear #2: The cost isn’t worth it.
Upgrading requires an investment, but what’s the cost of standing still? Slow approvals, inefficient processes, and frustrated customers all take a toll. In fact, 76% of consumers say they would switch financial institutions if they find one that better meets their needs—up from 52% in 2020.
Outdated technology isn’t vintage—it’s a liability. And the costs are steep: lost revenue, missed growth opportunities, increased fraud risk, and ongoing inefficiencies that burn out resources (52% of branch managers and 49% of staff say they intend to leave their jobs within the year because of outdated technology).
Fear #3: We don’t have the time or resources.
We get it—juggling a system migration on top of your daily operations can feel like you’re trying to run a marathon in quicksand. Deadlines are tight, resources are limited, and every minute counts. But here’s the thing: clinging to outdated processes is what’s really eating up your time and creating those frustrating bottlenecks.
Consider this: a survey of over 1,300 bank branch employees found that nearly half are spending more time on administrative tasks than actually serving accountholders. That’s a huge red flag. Instead of letting these old systems hold you back, why not lean on your vendor partner to help map out a smart, realistic plan for an upgrade? They are the experts who know the system’s ins and outs, so air out your concerns and let them guide you through a structured, efficient transition that fits your schedule.
And, while it might seem like there’s never enough time or resources to make a change, upgrading your systems could actually give you more of both.
Fear #4: It won’t integrate with our current systems.
It’s a valid concern. Your loan origination and account opening systems need to work seamlessly with your core and other important ancillary systems. If it doesn’t this can cause inefficiencies, data silos, and delays that impact both internal teams and accountholders. But, ask yourself, are your current integrations truly delivering the seamless performance you need, or are they contributing to operational friction?
Upgrading your account opening and lending platform can actually improve efficiency and create a more connected ecosystem. Modern banking technology is built with integration at its core, enabling real-time data exchange and streamlined workflows across all your platforms. By moving to a more advanced system, you’re not just addressing integration challenges—you’re transforming your entire operational framework to reduce delays, eliminate redundancies, and enhance the overall experience.
Fear #5: Our team will resist the change.
New technology can feel intimidating, especially for teams already managing heavy workloads. Without the right approach, employees may see this change as an added burden or even a threat rather than an opportunity. But, data shows that people are increasingly frustrated with outdated technology and workflows. In fact, 80% of employees said they want modern banking technology in their branches to reduce the time spent on non-customer-facing activities
Clearly, the desire for improvement is there—so, it’s about how the change is managed.
Early involvement and clear communication can help shift that mindset. When your team sees firsthand how tedious tasks can be eliminated, how intuitive interfaces make processes easier, and how comprehensive training supports a smooth transition, skepticism can quickly turn into excitement.
So, what’s scarier: facing change or falling behind?
The choice is yours—but with the right partner, making the leap is easier than you think. For over 25 years, we’ve been evolving our digital lending and account opening platform, refining our implementation approach to help financial institutions upgrade without the headaches. That means minimizing disruption, streamlining integrations, and equipping you with the tools to succeed from day one.
To help you take that first step, we’ve developed the Digital Progression Assessment—a simple yet powerful tool designed to pinpoint your current digital state and uncover key opportunities for growth, efficiency, and long-term success.
