The materials available in this article are for informational purposes only and not for the purpose of providing legal advice. You should contact your own advisors with questions regarding the banking application software content herein. The opinions expressed in this article are the opinions of the individual authors and may not reflect the opinions of MeridianLink, Inc.
Nearly 4 million new bank accounts are opened by Gen Z each year, making this group a major growth segment for financial institution. But loyalty is fragile—60% of Gen Z use multiple financial providers, and 20% say they’re likely to switch their primary bank within six months.
Having banking application software for deposit accounts and lending is no longer enough to keep consumers engaged. Financial institutions need to provide fast, simple, and personalized experiences from the start. When they don’t, consumers will move on.
And while that may sound straightforward, or maybe even obvious, many institutions are still constrained by legacy application systems that weren’t designed for these expectations. Long forms, manual handoffs, rigid workflows, and slow decisioning all add friction at exactly the moment institutions can least afford it—onboarding and loan origination.
Common challenges include:
- Long, repetitive applications that increase drop-off
- Manual back-and-forth between members and staff
- Delays between application, decision, and funding
- Limited flexibility to tailor workflows by product or account type
Individually, these may feel manageable. Together, they create friction that damages conversion, efficiency, and loyalty.
Salal Credit Union saw the opportunity and turned to its relationship with MeridianLink
While already using MeridianLink® Portal for digital applications, Salal Credit Union recognized that evolving member expectations required greater flexibility and a more seamless end-to-end experience.
With Portal, limited configurability made it challenging to fully optimize workflows, streamline application completion, and deliver the level of personalization members increasingly expect. As a result, applications often required more steps than necessary, involved multiple touchpoints to complete, and created delays between submission and booking.
The solution: MeridianLink Access
Salal Credit Union upgraded its digital application solution to MeridianLink® Access and tapped into MeridianLink® Consulting’s Process Assessment service to redesign its workflow end-to-end.
The credit union launched all major product workflows at once, and with Access’ flexible and configurable design, it was able to:
- Customize application workflows without heavy development work
- Capture more complete and accurate data upfront
- Eliminate unnecessary steps that slow the process
- Tailor experiences based on product and member needs
The results were immediate and measurable
Salal’s transformation established a strong foundation for long-term digital growth and deeper member relationships.
That impact showed up quickly in early performance data. A targeted credit card campaign launched after go-live generated 21 applications in a single weekend, compared to just 3 across the previous eight weekends combined. The lift came from removing friction at the point of conversion and making it easier for members to complete the process.
And that momentum continued, with the credit union seeing improvement across their operation:
- Application completion time reduced by ~50%, making it significantly easier for members to apply
- 38% faster time from application to booking, accelerating access to funds
- Conversion rates increased from ~22% to ~29%, reflecting reduced drop-off
- 27-point increase in new member NPS, signaling a major improvement in satisfaction
Beyond the numbers, Salal Credit Union also saw clear benefits in day-to-day experience for both members and internal teams.
Applications now arrive more complete, giving processors better information upfront and reducing the need for back-and-forth. That has translated into faster decisions and a smoother experience on both sides of the process.
The next steps
Salal Credit Union is a great example of what’s possible when you reimagine your digital workflows and pair it with the right banking application software to deliver the experience your members and staff deserve—and expect.
Discover how MeridianLink Access can accelerate your institution’s deposit and lending strategy.
