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Digital Transformation and Data Strategies Should be Top of Mind in Tech Budgeting (Part 2)

Digital Transformation and Data Strategies Should be Top of Mind in Tech Budgeting (Part 2)

In part one of our two-part article series, we discussed the importance of innovation over three horizons ranging from 12 months to five years out. With “Horizon 1” over the next 18 months being the most critical for credit unions to focus on. This includes aligning digital transformation with your overarching business strategy, refreshing legacy…

Digital Transformation and Data Strategies Should be Top of Mind in Tech Budgeting (Part 1)

Digital Transformation and Data Strategies Should be Top of Mind in Tech Budgeting (Part 1)

As your credit union finalizes its 2020 technology budget, are you confident that you are effectively judging the magnitude of change that will occur in the short-term, while keeping an eye on long-term trends? Technology experts say you must deliver a service standard that compares to Amazon. Members expect an experience that compares to the…

Machine Learning Can Improve CUs’ ďPeople Helping PeopleĒ

Computer programming has come a long way since the late 1970s and early 80s, when high school students learned BASIC and wrote simple programs on Commodore 64s. Today, six-year-olds learn coding from LEGO kits purchased at Target and young entrepreneurs are earning millions writing apps and selling them to global fintech companies. Until recently, however,…

Is Technology Sprawl Ruining Your Member Lending Experience? (Part 2 of 2)

Is Technology Sprawl Ruining Your Member Lending Experience? (Part 2 of 2)

Technology has expanded our ability to do more things with greater ease, but has it really made us, as lenders, more efficient? In part one of our two-part article series, we discussed in detail the four ways to effectively fight lending technology sprawl. Now, letís look at the keys to implementing the right loan origination…

Is Technology Sprawl Ruining Your Member Lending Experience? (Part 1 of 2)

Is Technology Sprawl Ruining Your Member Lending Experience? (Part 1 of 2)

How many systems, both digital and manual, do your members and employees have to navigate before booking a loan? The answer may surprise you, and provide some critical insight if your credit union isnít meeting its loan growth goals. What is Technology Sprawl? Tech sprawl isnít just a lending problem or even a financial services…

Using Technology to Improve the UX

Using Technology to Improve the UX

Recently, our product team was involved in a discussion about ďuser experience.Ē This topic has become very important in the world of technology, as we continue to create very sophisticated tools to advance how companies, including financial institutions, do business.† However, if the user canít figure out how to use the technology they have, it…

The Quest for A Simplified Lending Experience

The Quest for A Simplified Lending Experience

Published in Lending

Iíve read a number of credit union industry articles recently that focus on the rise of consumer peer to peer (P2P) lending/marketplace lenders, usually with speculation about when these new competitors will start impacting our industryís loan volume.† Thatís a fine discussion to have, but what seems to be lacking is an in-depth conversation around…

Achieving Sustainable Loan Growth — Part 2: Addressing Inefficiencies

Achieving Sustainable Loan Growth — Part 2: Addressing Inefficiencies

Published in Lending

(This is part 2 in a series. Read Part 1.) I have the opportunity to meet with many credit unions in my travels.† Hereís my not-so-stunning finding: some credit unions are pretty inefficient.† But why am I talking about inefficiency in an article on sustainable loan growth?† Hereís how I see it.† Sustainable loan growth…

The Member Experience Matters

The Member Experience Matters

As marketers, we are focused on our credit unionís brand.† In fact, weíre probably obsessed with it.† We lean on it in meetings with the team and ideation sessions.† We have guidelines and standards.† But what is a brand? The traditional definition was easy to quantify.† According to the AMA*, a brand is ďa name,…