Digitalization sits atop most financial institutions’ strategic plans this year as a result of remote work and ever-changing customer expectations. New software and other technology is often vital to that effort. Whether you’re implementing and rolling out loan origination software (LOS) as discussed in this podcast or another solution, a key consideration is the choice between software customization vs. configuration. In this episode, David O’Connell from Aite-Novarica’s Commercial Banking team and Andy Snow from Abrigo join to discuss why this decision matters, along with best practices they have learned working with hundreds of financial institutions across the country.
In this podcast, we will discuss:
- How LOS customization vs. configuration can affect project deadlines, budgets, and scope
- The total cost of ownership and other long-term effects of software customization vs. configuration
- Managing the “people side” of implementation/user adoption with customized vs. configured software
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