Looking Forward to 2025
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As we approach the end of 2024, I reflect on the profound gratitude I feel for the incredible Team and valued clients at Enhanced Software Products, Inc. (ESP). Like many industries, we've faced challenges in the wake of post-COVID instability. While I admire those who have pursued new opportunities elsewhere, the loss of team members is always felt deeply in a small business. However, the arrival of exceptional new team members fills me with excitement for our collective growth.
The credit union industry is experiencing a remarkable transformation, capturing the attention of fintech companies and opening avenues for partnerships that didn't exist five years ago. As stewards of our client's data, we thoughtfully navigate these opportunities, ensuring we are not merely pursuing trends but fostering relationships that genuinely empower our clients. Enhancing partnerships and forging new connections is consistently rewarding.
With technology advancing in our sector, many foundational vendors are being called upon to evolve their processes. From card networks to digital offerings, these changes often come with tight, unpredictable, and vendor-led deadlines. Yet, meeting these challenges head-on brings a deep sense of fulfillment, even if the efforts are sometimes behind the scenes (mandates).
In 2024, to name a few, we proudly:
Renewed contracts with three clients for a ten-year commitment and two others for an eight-year renewal. This achievement is not only rewarding but also humbling, reflecting our core focus on data security while remaining sensitive to our client's partnership aspirations. It's a delicate balance we navigate with pride.
Welcomed new members to our Team.
Launched a cutting-edge digital banking solution (web and app), with deployments scheduled through June 2025.
Deployed three major Core Updates and numerous enhancements.
Continue our journey with the newly formed Client Advisory Board.
As we look to 2025, anticipation fills the air. We are excited to:
Enter 2025 with the new clients we converted in 2024. Welcoming Montana and Wisconsin credit unions to our family.
Continue to define the development calendar and apply staff where needed to maximize time-to-market goals.
Implement core audits in our service offerings. We are currently working on the details to maximize ESP time and client reward efficiently.
Continue the collaborative work on our Data Analytics/Visualization Project.
Continue to monitor and enhance our security practices and extend tools to protect your member's well-being.
Our unwavering commitment to exceptional customer support shines bright. Entering 2025, our average employee tenure stands at 10.7 years, a testament to the high dedication you can expect from us.
We will continue to drive product development and enhancements, ensuring we identify the most efficient routes to bring your vision to market. Additionally, we recognize that many credit unions are underserved or dissatisfied with their current core systems. Our Sales and Marketing Team is dedicated to reaching out to them and helping them understand what they should expect from a core processor.
Our vision is clear: "To be the most trusted and admired core processor in the industry." Every action we take, and every discussion we engage in aligns with this vision.
Together, we look forward to the planning and purposeful work ahead to make 2025 even more remarkable.
Sincerely,
Shaun Murray
President/CEO