Why This Matters for CEOs
As the phase-out of Central1’s Forge approaches, every credit union CEO faces the same question: How do we navigate this transition while driving growth, efficiency, and member loyalty? The move away from Forge isn’t just about selecting a new digital banking platform (DBP). It’s about ensuring your credit union is positioned for the future—ready to compete, attract new members, and operate more efficiently.
This transition is a high-stakes decision that impacts not just IT but also marketing, operations, finance, and—most importantly—your members. Done right, it’s an opportunity to modernize, improve the member experience, and drive long-term value. Done wrong, it risks disruption, higher costs, and a frustrating transition for both staff and members.
Let’s break it down: What should you focus on as CEO? What are the key risks? How do you ensure success?
Aligning the Migration with Your Growth Strategy
Credit Union priorities include:
- Growing the member base, especially with younger members
- Increasing assets under management (AUM)
- Operating more efficiently
Growing Membership Through Digital Engagement
Research shows the digital banking experience is one of the main deciding factors for a member to choose their CU provider. Embracing digital transformation is crucial for credit unions to meet evolving member expectations and maintain relevance in a rapidly changing financial landscape. Millennials and Gen Z expect a simple and intuitive digital experience. This transition is your chance to upgrade your digital offering—not just swap one system for another.
Ask yourself:
- Does the new DBP support personalization, self-service, and mobile-first experiences?
- How will it impact digital account opening and loan applications?
- Will it help drive organic member growth through digital referrals and seamless onboarding?
Increasing AUM and Revenue with Digital Services
A better digital experience leads to higher engagement, cross-selling, and member retention. This transition should enable:
- Data-driven product recommendations—leveraging member data to offer the right products at the right time.
- Frictionless lending experiences—seamless integration between the DBP and loan origination systems.
- Embedded financial services—integrating third-party fintech services to expand offerings.
Operating Efficiently: The Right DBP Can Lower Costs
A poorly managed migration can balloon costs and operational headaches. The right platform should:
- Reduce reliance on costly manual processes
- Enable regular updates
- Automate workflows and member support functions (e.g., AI-powered chat, self-service tools)
- Lower IT maintenance costs through better vendor management and cloud efficiencies
Risk Mitigation: What Could Go Wrong & How to Prevent It
CEOs don’t need to be DBP experts, but they must understand the top risks and how to avoid them.
Risk #1: Member Disruption & Reputational Risk
- What can go wrong? A poorly executed migration can confuse members, lead to negative reviews, and increase churn.
- How to prevent it:
- Ensure a clear communications plan for members, employees, and stakeholders.
- Offer early access to beta testers and soft launches before a full rollout.
- Invest in post-launch support and training to ensure a smooth transition.
Risk #2: Cost Overruns & Budget Blowouts
- What can go wrong: Unexpected integration costs, extended timelines, and vendor overages.
- How to prevent it:
- Lock in transparent pricing and a total cost of ownership model before signing contracts.
- Ensure the plan includes hidden cost factors (e.g., API fees, security updates, long-term licensing).
- Build a transparent phased rollout plan with regular updates and demos to minimize risk exposure.
Risk #3: Poor Vendor Execution & Lack of Accountability
- What can go wrong: Vendors overpromise and underdeliver, leading to delays and frustration.
- How to prevent it:
- Establish clear KPIs and performance expectations upfront.
- Negotiate service-level agreements (SLAs) that align with CU goals.
- Work with a trusted implementation partner (like AEQ) to oversee vendor coordination.
CEO Action Plan and How AEQ Can Help
CEOs often focus on setting the vision and ensuring buy-in and alignment across departments. They also ensure CUs manage risks wisely and take calculated bets so their organization becomes more resilient, differentiates, and grows. Here’s how AEQ can help you effectively navigate this transition without getting lost in the technical weeds, freeing time for you to focus on the busines:
Define Your Credit Union’s Digital Roadmap
- Align migration decisions with your CU’s long-term growth plan.
- Ensure the new DBP supports scalability, innovation, and future integrations.
Get ALL the Right People in the Room
- The CMO needs to drive member engagement & digital branding.
- The CFO needs to align costs & ROI projections.
- The COO ensures operational workflows aren’t disrupted.
- The CIO/CTO oversees vendor execution & integration strategy.
Insist on a Business-First, Not IT-First, Approach
- This isn’t just a tech project—it’s about both business and people transformation.
- The focus should be on member experience, growth, and efficiency, not just system features.
- Ask: How does this make our CU stronger and more competitive?
Engage a Trusted Partner
- Forge migration is complex—you don’t need to navigate it alone.
- As a trusted advisor and delivery expert, AEQ bridges the gap between your CU, vendors, and technology partners. Our agile delivery expertise with many similar projects accelerates speed to market, minimizes risk and rework, optimizes ROI, and ensures a seamless transition.
Final Thoughts: The Right Decision Today Defines Your CU’s Future
Forge migration is a rare opportunity to reimagine your digital banking strategy. If done right, it won’t just replace Forge—it will position your CU for sustainable growth, increased engagement, and operational excellence.
The stakes are high, but this transition can become a competitive advantage with the right approach.
Coming Up Next: Branding & Member Engagement in a Post-Forge World
The next step? Ensuring your CU’s brand identity and member engagement strategies stay strong throughout the transition. Our next article will cover:
- How to maintain a seamless digital experience across your public site & banking portal.
- How SEO, content, and digital marketing impact member acquisition.
- Personalization strategies to drive loyalty and engagement.
Let’s build the future of digital banking—together.
Adrian Moise
Founder and CEO
Need Expert Guidance?
AEQ specializes in helping credit unions transition to new digital banking platforms. Contact us today to discuss how we can support your migration strategy.
