3 Tactics to Boost Cross-Sell in 2020

As we head into a new year with it come new goals and numbers that sales professionals are required to meet. The banking and credit union industry is no exception. The numbers are consistently getting more substantial, and for many organizations, a new year can be particularly terrifying as it brings with it a new quota to conquer.
Read More

Loan Origination System Implementation Best Practices

Finding the right loan origination system for your bank or credit union is vital to a successful lending strategy. The implementation of that system is just as important; the setup of your system sets the course for your team and the success or failure of your financial institution’s lending goals.
Read More

5 Credit Unions That Go Beyond an Excellent Member Experience

on Wed, Nov 27,2019 @ 06:00 AM | By Yelena Kolesnik |
One of our favorite parts of providing software solutions to credit unions is giving them the tools to serve the members of their communities and change lives for the better. Not only do credit unions provide an excellent member experience for lending and deposit accounts, but they also make it a priority to serve their communities in multiple charitable ways.
Read More

How to Compete with Digital Lending Leaders [Webinar Summary]

on Fri, Nov 22,2019 @ 05:45 AM | By Yelena Kolesnik | digital application process digital lending
Our most recent webinar featuring Jim Marous, Owner and Publisher of the Digital Banking Report and Co-Publisher of The Financial Brand and MeridianLink Sales Engineer, Jerod Nace, covered best practices to help banks and credit unions compete with digital lending leaders.
Read More

5 Perks of Using Social Media for Financial Institutions

on Thu, Nov 14,2019 @ 06:04 AM | By Yelena Kolesnik | digital application process digital lending
Social media is a very powerful tool for many different reasons. Those who do not understand it can fall in the trap of deeming it as a non-legitimate form of communication and marketing and miss out on a wide array of benefits. According to Oberlo, there are about 3.2 billion social media users, 68% of which are Facebook users (Oberlo).   
Read More

3 Must-Have Components within a Debt Collection Process

on Fri, Nov 01,2019 @ 05:30 PM | By Yelena Kolesnik | collections
According to the Bureau of Consumer Financial Protection 2019 Annual Report, outstanding credit card debt continues to grow, increasing to re-touch its 2008 peak of $870 billion. Additionally, the flow of 90 days or more delinquency for credit card balances remains elevated relative to previous years (BCFP).
Read More

Benefits of Having a Unified Loan and Deposit Account Origination Platform

When it comes to mobile devices most of us are divided into two categories, Apple or Android. And those who have an iPhone are not going to go and purchase a Galaxy watch, and in most cases probably own at least one or two other Apple products. As consumers we prefer the easier route, a streamlined and consistent user experience and less login credentials to remember.    The same concept can and should be applied to banks and credit unions, specifically to their loan and new account origination systems. The goal should be to create a consistent, sustainable, streamlined, and efficient member and customer experience. Providing a consistent user experience regardless of the product and channel, is vital to staying competitive in the industry.
Read More

Increase Your FI’s Loan Originations Through Merchant Lending

Merchant lending is a simple way to increase loan volumes, create great working relationships with local businesses and help your community. We are all faced with unexpected and unavoidable expenses and financing options can be a life saver. According to Forbes, your average annual home maintenance is about 1%-4% of the purchase price, depending on the age of your home, plus unexpected expenses (Forbes). This is the perfect area to implement merchant lending at your bank or credit union, help your community live better lives when they need it the most. Today, I’d like to discuss just that, an unexpected home maintenance emergency that was saved by merchant lending through a local credit union.
Read More

3 BI Trends Your Financial Institution Should Know About

on Thu, Oct 03,2019 @ 05:00 PM | By Yelena Kolesnik | reporting
Keeping up with trends can be difficult, time consuming, and in most cases, expensive. Think back to your teenage years when you wouldn’t be caught dead without the correct designer logo on the back pocket of your acid washed jeans, hairstyle to match Rachel or Farrah, sheep-wool lined boots from Australia, or baggy harem warm up pants that made you “too legit to quit”. Two weeks later, they were already passed up because everyone else had them or some superstar was sporting a different article of clothing. Plus, you are reminded every time you open a search engine of what is trending that day. No matter what industry you’re in, it seems like everyone is talking about Business intelligence (BI). Well, in the world of business intelligence, trends can truly be worth buying into as they can really make a difference in the success of your financial institution in the short and long term.  Today, we’ll examine three trends in BI that your financial institution should know about and try to implement.
Read More

Digital Lending: 3 Tips to Help FI’s Combat Application Abandonment

on Thu, Sep 26,2019 @ 08:53 AM | By Yelena Kolesnik |
Having a strong digital strategy is paramount to all financial institutions. There are multiple studies that have shown that well over 60% of consumers use their mobile phones and devices for banking.  As consumers embrace digital, they also require it to be easy to use. The term ‘frictionless experience’ gets bantered around a lot these days because if it takes more effort to do a task online than what the user feels it is worth, the A-word occurs, abandonment. Duh-duh-duh-dum (ominous music plays in background as word is read).
Read More