Customer Success Story
Highly Configurable Point-Of-Sale Solution Enhances Digital Path Forward
How Alabama Credit Union Made Account Opening a Fast, Seamless, Personalized Member Experience
Headquarters: Tuscaloosa, Alabama
Branch locations: 37
Members: ~160,822
Managed Assets: $1.9B
The Challenge
LACK OF CUSTOMIZATION AND SPEED
Alabama Credit Union (Alabama CU) aims to enhance the lives of its members and staff, strengthen communities, and live their shared values. It serves members across Alabama and North Florida, offering a wide range of financial services, from personal and business banking accounts to digital banking and lending services.
Before integrating MeridianLink’s solutions, Alabama CU struggled to customize account and loan applications in a way that enabled prospective members to apply quickly and easily. This led to increased abandonment rates and hampered account applications.
The Solution
MeridianLink One
Alabama CU selected MeridianLink® Consumer, MeridianLink® Opening, and MeridianLink® Access, all part of the comprehensive digital platform — MeridianLink® One — as configurable solutions that could decrease abandonment rates and increase applications with a more streamlined experience.
Why Alabama Credit Union Selected MeridianLink Consumer and MeridianLink Access
Significant decrease in abandonment rates due to the ability to minimize unnecessary fields and streamline the account opening application process.
17% increase in deposit account applications thanks to the ability to offer a personalized experience for members and business customers.
More than 50 new applicants in the first month due to the flexibility and customization that allowed the credit union to quickly personalize the account opening experience.
The Results
Smooth Account Application Process, Personalized for Each Member
Alabama CU enjoyed a fast integration in six months as a beta client. Constant communication and feedback with MeridianLink support allowed them to collaborate and tweak the solution to their unique needs.
The comprehensive solutions made the credit union competitive with fintechs by providing a streamlined experience that allowed prospective members to complete applications more quickly and easily. It optimized the account application experience across devices, including smaller screens, minimizing friction in the application process across every digital touchpoint.
MeridianLink Access offered a flexible configurable that enabled the credit union to eliminate unnecessary fields and personalize applications for its Valued Partners (VPs). VPs could provide their employees and students with a seamless, on-brand experience, eliminating the need to redirect people to external websites. Customized internal workflows, tasks, and lists allow Alabama CU to provide a satisfying member experience that doesn’t sacrifice security. By integrating these tools, the credit union optimized workflows from start to finish to provide a faster, simpler, more personalized experience for members.
