Instructions
Click the Current Digital Strategy Status column under the heading that best describes your current progress incorporating that specific digital capability into your FIs total overall digital account opening/lending strategy.
Strong represents 5 points; Good represents 3; Fair represents 1; Weak represents 0. When finished, and after you click “Submit,” your personalized Digital Account Opening/Lending Strategy score will be displayed. You’ll also be provided with informative next steps.
We have already incorporated(5 Points)
Our implementation is underway(3 Points)
Just in our planning stage(1 Point)
Not currently in our strategy(0 Point)
Digital Capability
Mobile-First ApplicationWhat is it?
Single responsive website built for phone, tablet, laptop/desktop, easy access when in-branch unavailable.Why is it important?
Over 80% of all online applications are originated on mobile devicesDigital Capability
Universal Application PortalWhat is it?
Ease of use and familiarity for customers. Flexibility and control for the institution via web-based management. Promotes cross-selling across product lines.Why is it important?
Simple single platform experience for all customers and products, easily managed by the institution in real time without engaging provider, incurring expense, or delaysDigital Capability
Omni-Channel ApplicationWhat is it?
Multiple entry points for customers/members - home, on mobile, in-branch, at events, at a business, QR codes on mailers, in a call center.Why is it important?
The Point-of-Sale is everywhere, anytimeDigital Capability
Digital Customer ServiceWhat is it?
Online text and voice chat, live and AI-driven assistanceWhy is it important?
Instant customer response in any channelDigital Capability
Any Account TypeWhat is it?
Engage and capture ALL customer types in minutes, 24/7/365.Why is it important?
Offer and onboard personal, business, HSA, DDA, CD, savings, money markets, trusts, and IRAsDigital Capability
Any Loan TypeWhat is it?
Engage, approve, and fund in minutes, 24/7/365.Why is it important?
Offer and close personal, business, direct, indirect, mortgage, secured, unsecured, HELOC, credit card, and other loan typesDigital Capability
Automated Indirect LendingWhat is it?
Make it easy to digitally engage dealers and merchants, capture more market share with instant approvals.Why is it important?
Offer and instantly approve auto, power sports and retail POSfinancingDigital Capability
Lead-Generation IntegrationWhat is it?
Leverage 3rd party services to drive digital traffic. Promote non-branch options when branch traffic is reduced.Why is it important?
Expand institutions’ digital presence and market coverageDigital Capability
Account and Loan Origination from OnlineBankingWhat is it?
Increase customer profitability, security, and ease of use by leveraging online banking infrastructure.Why is it important?
Engage current customers using existing, familiar digital channel from in front of and behind the pinDigital Capability
Automated Form Pre-FillWhat is it?
Scan driver’s license, use a cellular database, or pull from core to pre-populate forms with data from trusted sources.Why is it important?
Save customer time, increase data accuracyDigital Capability
Automated Text and E-mail MessagingWhat is it?
Instantly connect with customers for questions, updates, exceptions. Reduce branch visits and call-center traffic.Why is it important?
Real-time and secure digital customer interactionDigital Capability
Automated DecisioningWhat is it?
Automatically approve accounts and loans instantly, in-session. Remotely administer scoring and workflows.Why is it important?
Digital customers demand real-time decisions or they’ll shop elsewhereDigital Capability
Real-time ID and Fraud ChecksWhat is it?
Digital data acquisition, crossreference, and validation from any number of online services.Why is it important?
Multi-level, multi-factor securityDigital Capability
Automated Cross-SellWhat is it?
Leverage data and engagement in real-time to expand customer relationships and profitability.Why is it important?
Offer and close multiple loan and deposit products with a single applicationDigital Capability
Real-time Data Service IntegrationWhat is it?
Broad and deep network of connected services provides everything institutions need to safely acquire new customers.Why is it important?
Leverage hundreds of data services for instant, automated processing in all stages of account and loan lifecyclesDigital Capability
Automated Document UploadWhat is it?
Customers upload documents using mobile device camera or stored documents. Automatically classified and attached.Why is it important?
Digital capture of any required customer documentsDigital Capability
Automated and Dynamic Workflow and RulesWhat is it?
Flexible process automation to improve staff efficiency, turn times, increase productivity and capture rates, eliminate bottlenecks, manage remotely.Why is it important?
Instantly manage exceptions, escalations, and customer interactionDigital Capability
Advanced DecisioningWhat is it?
Data, reporting, and modeling to monitor performance and improve processesWhy is it important?
Automated analytics and intelligence to maximize profits and minimize riskDigital Capability
Automated Collateral ValuationWhat is it?
Enables automated underwriting and valuation-based loan offers for auto and power sports lending.Why is it important?
Real-time valuation data acquisitionDigital Capability
Automated Electronic DocumentsWhat is it?
Leverage existing compliant document libraries and dynamic document services.Why is it important?
Real-time compliant document generation and presentationDigital Capability
Electronic SignaturesWhat is it?
In conjunction with electronic documents, eliminates paper, processing delays, and reduces in-person contact.Why is it important?
Immediately accept terms, sign all required documents at any point of saleDigital Capability
Automated FundingWhat is it?
Quickly fund via ACH, GL, account transfer and other electronic methods to increase customer and dealer satisfactionWhy is it important?
Digitally deliver loan proceeds to direct or indirect payeesDigital Capability
Automated Onboard toCore, Online Banking, and Document StorageWhat is it?
Quickly move data and documents to core banking systems and online/home banking to immediately engage customersWhy is it important?
Instant customer and institution access to newly generated accounts and loans
