White Paper: Your Core Processor is no MCIF2017-05-22T15:03:09+00:00

Project Description

Your Core Processor is no MCIF (Click here to download)

While it isn’t often, one of the questions that invariably comes up at institutions
unfamiliar with MCIF technology is “Can’t we get this information from our core?”
The short answer is no. That said, the question posed is a right and fair one to ask.
Unfortunately, while the core or even the data warehouse has lots of data…neither
of these systems enhances the data in a way that will turn it into information of
strategic value. In addition, the average user does not have the ability to use or
access the core/data warehouse systems to pull reports, etc. Because this is true,
everyone in management is often waiting on their I.T. folks to give them answers.

MCIF technology is designed to pick up where the core leaves off. Core systems are designed
to manage transactions and maintain the balance calculation of both the deposit and loan
accounts. MCIF systems are analysis tools that add value to the data and allow management
to easily ask questions that are difficult (at best) or impossible to do in a core system.

Like a data warehouse, MCIF systems can bring in data from multiple systems. Both can even
update data every day. Date warehouse systems are not designed to be used for the rank and
file employee or members of management at a financial institution. Why? Simply, these tools
make accessing data and reports from a myriad of sources easier for your I.T. staff. This
is a good thing. Yet, a data warehouse is not for the average user.

Data warehouses require sophisticated SQL query statements and “report writing”
experience, both of which your average employee simply does not understand. MCIF
solutions are designed for non-technical people. MCIF software makes it crazy
simple for non-technical staff to get the reports and answers they need from an
easy-to-use Windows application.

 

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