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The digital consumer experience has grown tremendously in the past five years. Consumers can accomplish many essential tasks from the comfort of their homes, using a mobile device or computer. Additionally, remote career opportunities are becoming more and more prevalent, healthcare organizations are adopting online doctor visits, and just about any cuisine can be delivered to your home with a few clicks. Although not all industries are growing at the same pace, these convenient experiences leave consumers with a much higher expectation for any digital experience. These expectations, of course, include the online deposit account application, especially for the younger tech born and bred generation.

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.

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.

It’s been a few weeks since we’ve focused on digital lending best practices, but it continues to be such a hot topic these days. Here’s a link to where we left off in case you wanted to check it out. Moving forward, here are three more key considerations every financial institution’s loan origination system must incorporate to maximize success in the digital segment:

Records are made to be broken, and we are seeing a lot of MeridianLink’s previous records being broken left and right. Since the User Forum held earlier this month that shattered the prior attendance record with more than 700 people joining us to learn more about how we can connect them to better, interest in our products and services has also never been higher.

We would like to thank everyone who joined us last week in Huntington Beach for the MeridianLink 2019 User Forum. Besides the record attendance and all of the buzz surrounding all of the latest developments regarding our products and services, we picked the Forum as the perfect place to unveil our new logo and branding.

Collections will never be the same.  XpressCollect, the latest addition to MeridianLink’s market-leading suite of products, has quickly been recognized as one of the most powerful and innovative collections tools. With its robust and intuitive platform, XpressCollect maximizes efficiency and minimizes costs. The web-based platform provides unmatched benefits that start with a sleek user interface that delivers the ultimate user experience. XpressCollect not only replaces tedious workflows of the past with increased automation, sophisticated analytics and easy-to-use functionality, it also evolves with your financial institution’s operations and goals. As you may know, we hosted an introductory webinar yesterday to provide more information about XpressCollect and its benefits. In case you missed it, you can request the recording link below. Here’s some of the Q&A following the presentation and demo to give you some more insight on how XpressCollect works:

Have you filled out your bracket yet? If not, you better get on it soon since the big dance starts in just over an hour. It’s always interesting how so many people have unique strategies when deciding on the teams that will advance and eventually be crowned champions of college hoops. Some people have watched so many games this season that they can make educated decisions. While others, like me, find other less analytical ways to decide since they haven’t seen at least half of the teams actually play. Almost everyone knows or has heard a story of someone who won a pool because of picking something like their favorite mascots or colors. The point is that there is no single method or formula that leads to victory. While some people have won with crazy strategies, it’s best go with what works best for you. For digital lending success, it sort of like that – although the stakes are much higher. From the online or mobile application process to the decisoning, workflow and funding processes, financial institutions everywhere are still searching for the right strategy to survive and advance among today’s fierce competition. That’s why we’re here to help. This week’s blog post features three more of the most important best practices every financial institution needs to consider when evaluating technology and processes:

As financial institutions continue to adapt their operations to evolving consumer demand stemming from the digital marketplace, it can be difficult to determine the functionality and features of a digital application tool, loan origination system and deposit account opening platform that can provide the most efficiencies and growth opportunities.  With that in mind, here are three of the most important best practices every financial institution needs to consider when evaluating its technology:

When it comes to digital lending, it’s not enough to just have a presence. As technology evolves, consumer demand shifts, and lending strategies expand competition within the industry grows seemingly exponentially with every new day. Technology plays a key role in staying competitive. Institutions not only need to have reliable loan origination systems in place, but also tools that provide necessary levels of automation and configurability to maximize efficiency and profits. Traditional loan origination platforms can’t do all this alone.  To help illustrate this point, here are a few best practices to help ensure your online web application is providing the most ROI for your portfolio: