Customer Success Story
Configurable Solutions Improve Efficiency and Fraud Detection While Expanding Share of Wallet
How 3Rivers Federal Credit Union Improved Automated Decisioning By 40%
Headquarters: Fort Wayne, IN
Branch locations: 24
Members: 113,000+
Managed Assets: $2.3B+
The Challenge
Customizing Workflows and Combating Fraud
With a motto of “doing the hard better,” 3Rivers Federal Credit Union (3Rivers) is committed to helping members achieve financial wellness by offering education, guidance, and ongoing support, along with top-tier banking.
3Rivers faced challenges with its online application process and fraud detection. Their previous system was outdated, rigid, and inefficient, making it difficult to customize workflows to meet specific needs and effectively detect fraudulent applications. The credit union needed a solution that was flexible, efficient, and future proof.
The Solution
MeridianLink Access
MeridianLink Opening
MeridianLink Marketplace
3Rivers selected MeridianLink® Access and MeridianLink® Opening, along with integrations from MeridianLink® Marketplace to customize workflows, enhance fraud detection, and improve decisioning.
Why 3Rivers Federal Credit Union Selected MeridianLink Access, Opening, and Marketplace
Boosted automated decisioning by 40% with a 25% increase in instant approvals, improving member access to credit
Detected fraudulent applications within the first hour of going live, thanks to the integration with Socure.
Reduced application processing time from two days to two hours, enhancing overall efficiency.
The Results
Member-Friendly Processes, Enhanced Security, Greater Share of Wallet
The configurability of MeridianLink Access allowed 3Rivers to create specific workflows for different member segments, reducing complexity in the application process. This led to a significant reduction in the time required to process applications, freeing up staff to engage in meaningful financial conversations with members rather than focusing on data entry.
MeridianLink Opening streamlines the application process, making it easy for members to apply for multiple products simultaneously. This improved the credit union’s ability to cross-sell and increased the share of wallet from their members.
The integration with Socure provides advanced fraud detection using the system’s ability to analyze device data and match it with user information to catch fraudulent applications quickly and efficiently. Meanwhile, Zest AI improves the accuracy and speed of loan approvals, resulting in a 40% improvement in automated decisioning. This not only sped up the loan approval process but also increased member satisfaction by providing faster access to credit.
Learn how MeridianLink can help you decision — and fund — more loans and provide the easy application process your consumers want.
