Mapping Out Your Digital Account Opening and Digital Lending Journey

Posted by Kevin Fleetwood

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 content herein. The opinions expressed in this article are the opinions of the individual author and may not reflect the opinions of MeridianLink, Inc.

“If you don’t know where you are going, you’ll end up someplace else.” —Yogi Berra

Practically all financial institutions have adopted some form of digitalization when it comes to opening new deposit accounts or accepting loan requests over the last ten years.  However, the degree to which each bank and credit union employs these automated originations in their overall business strategy varies widely. Some employ every conceivable technology to automate the entire process while others have the bare essentials with no real commitment, just to be able to say, “We are online.”  

Knowing your travel plans before you leave on your journey helps ensure that you are headed in the right direction and allows you to chart your success all the way to your destination.  Below is a roadmap that outlines all the milestones for an effective and successful digital account opening and lending program

 

Mapping Out Your Digital Account Opening and Digital Lending Journey Infographic

 

“I never said it would be easy, I only said it would be worth it.” —Mae West

Want to find out where you are currently on your digital account opening and digital lending journey? Find out the gaps are in your strategy?  Need some input to help you with your next steps? Take our quick assessment to see how you score. 

Take Our Digital Assessment Now

This successful digital journey is worthwhile for your customers/members, staff, community and your financial institution. Should you find you need some roadside assistance in a few areas or a complete overhaul to accelerate your program, MeridianLink has the tools and services you need.  Safe travels.

Topics: digital lending, digital banking, digitallending

Written by Kevin Fleetwood

Marketing Director, MeridianLink

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