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Driven by consumer expectations for instant gratification set by retail and tech trailblazers, the world has been on a steady trajectory toward 24/7/365 availability for years already. This is now impacting payments in a way that is more urgent than ever, necessitating actionable plans for credit unions to begin (or continue) their digital payments transformation journey. 

Download this article for a deeper understanding of the current state of payments and the unique challenges your CU may face. You will also learn five things your CU should do including how to:                           

• Rethink your organizational culture and operating mentality
• Future-proof by connecting with established alternative payment platforms
• Create a unique transformation strategy to reach your CU’s objectives

Despite the pain of the pandemic, many financial institutions continue to book new business loans and accelerate digitalization wherever they can. Results of a new survey can help CUs understand why and how similar organizations are moving forward  in this unprecedented environment so they can duplicate their successes and avoid pitfalls. 

Watch this on-demand webinar now for insights from 20 key business lenders to help guide what choices you make next. These include:

• The amount of alarm that may or may not exist about business loan portfolios
• The drivers of loan portfolio resilience during this time
• What many lenders are prioritizing now
• How the pandemic has transformed things – for the better
• And more… 

Get data now so you can adapt as the environment continues to change in 2021 and beyond, preparing for any expected staff reductions or other developments.

Credit unions often face numerous manual processes scattered throughout different business departments. They also have to deal with different tools used across each department, and no means of connecting the back & front office. Unsurprisingly, this leads to vast inefficiencies.

Download this playbook to discover how to transform your CU by automating costly manual processes. You will learn how a digital-first approach not only drives innovation but can also: 

• Expedite onboarding and origination to meet member expectations
• Decrease operational costs
• Free up employees to focus on adding value for your members

Net interest margins have been challenged, but there is a way to earn greater interest income while also better serving your credit union’s members. Research reveals that traditional credit scoring alone is not comprehensive enough to assess lending risk, especially for the approximately 26 million creditworthy Americans who have little or no credit history and even nonprime borrowers. Your credit union can reach these members who are often overlooked by traditional financial institutions by digging deeper into near-prime and non-prime lending for auto loans and mitigate the risk.

Download this whitepaper to learn how to increase your auto loans and earn more from them with less risk by using a deeper and more holistic approach to your underwriting with more inclusive criteria. You will discover how to:

• Build loyalty and strengthen your relationship with members
• Assess risk with alternative data points
• And say yes to more loans while increasing interest income!

The payments landscape can be impacted by a number of factors, ranging from new options affecting how consumers make everyday purchases to global trends and events. 2020 has seen its fair share of upheaval, with the pandemic acting as a driver for consumer payment choices and purchasing behaviors. 

Download this report, which gathered responses from more than 1,500 credit union members and non-members, for key takeaways your credit union can leverage to better fulfill member payment preferences and needs as the payments landscape continues to evolve. Topics covered include:

• Factors that influence member behavior and usage of traditional and emerging payment methods
• How members are interacting with their CUs now and will in the future
• How and why payment preferences differ among generations
• And more!

Your credit union can add value for your members by providing additional services or improving existing services. Virginia Credit Union wanted to improve their profitability and transform their mandatory loan sales without sacrificing member service or increasing risk. 

Download this case study to learn how they reached their goal and ultimately drove profitability for their CU, as well as their members. You will also discover how to:

• Hedge your pipeline to reduce risk
• Save time on your loan sale process
• Transform your profitability through mandatory loan sales

As the coronavirus continues to impact the world and cases spike once again, it’s shutting communities into their homes and jeopardizing companies who normally rely on face-to-face interaction to conduct business. Prior to the coronavirus outbreak, 65% of consumers who attempted to complete a financial transaction online were redirected to a physical branch. This proves to be a great source of frustration for today’s highly digital, mobile customers and results in lost sales and poor member satisfaction.  

Download this guide for 5 digital capabilities your credit union should implement to manage member interactions and grow your bottom line. You will learn how to:

• Capture important member information accurately and increase completed forms
• Collect documents to accelerate compliance processes and minimize the back and forth with members
• Eliminate compliance risk with a secure payments platform
• And more!

When you consider the process for your members to apply for a particular product or banking service, it may be complex and involves providing personal information, financial documentation, etc. which can be frustrating for the member, and time consuming for your CU. Is your onboarding process easy and convenient for your members - and most importantly, effective? 

Download this white paper for 10 best practices CUs should follow when designing their member onboarding process. These include:   

• Differentiating purchase paths for different products
• Categorizing fields and asking tough questions last
• Specific website design tips
• And more!

We are standing on the brink of a business banking evolution. Business banking incorporates a vastly diverse group with varying industries, needs, income, and maturity levels. How can your credit union successfully become a valued partner for businesses to foster growth, not just for your CU, but also for the businesses you serve? 

Watch this webinar to learn how to tap into the underserved business banking market. You will discover:

• The blurred lines between three distinct categories: retail, small business, and commercial banking
• How to meet and scale changing market demands - especially in commercial banking
• The “must-have” and “nice-to-have” functionalities to differentiate your CU from other banking partners

As more credit unions embrace digital interactions, consumer-experience expectations rise, and identity fraud continues to grow, CUs looking to operate more efficiently are taking a closer look at the quality of their data. While often overlooked as a driver of inefficiencies, dirty data’s impacts appear in many departments downstream from its first collection. 

Download this white paper to discover why real-time processing of member contact data can help grow your bottom line. You will also learn how to:

• Improve marketing and sales efficiencies
• Decrease overall operational costs
• Combat fraud and ensure compliance

It’s important to understand your current mortgage pipeline process and periodically evaluate whether your CU is being exposed to unnecessary interest rate risk by not hedging or overpaying agencies to hedge. There are opportunities to enhance profitability and better manage risk in both of these scenarios. The “mortgage pipeline”, also known as the time between the loan being locked-in with a mortgage originator by a borrower, mortgage broker or other lender and that loan either falling out, being sold into the secondary mortgage market or being put into the originator's loan portfolio, can create significant risk from pipeline fallout and/or price fluctuations that may occur during this time.

Download this white paper to learn the benefits of good pipeline management so you can mitigate your CU’s risk and ensure profitability. You will also learn:

• Pipeline management strategies
• How to create pipeline stages and estimate the likely fallout
• How to determine the dollar amount to be hedged

As the industry continues to digitize, it’s important to know that technology should not replace relationships with members, but CU’s ought to tailor the digital experience to differentiate and better serve members. With a strong, strategic,digital plan, you can build a tailored financial institution that is truly specialized for members.

Download this video for insights from Jason Henrichs, of Fintech Forge, and Allan Brown, of Finastra, to uncover the “must haves” for a true strategy and how to continue your digital transformation journey. You will discover:

• Elements of strategic planning
• How to achieve a competitive advantage
• The benefits of incorporating APIs across all phases of your strategy

Economic turbulence is forcing credit unions to tap into every bit of their strategic agility to make better and faster lending decisions in risky environments. Serving your members through these tough times and navigating shifting regulatory guidelines means being resourceful and nimble is key - but what’s the best approach?

Download this guide for four principles of agile lending to evolve your CU’s strategy and tactics in this demanding economy. You will learn how to:

• Keep your lending models up-to-date with AI to make decisions quicker with accuracy
• Find better opportunities with an inclusive lending program to spot good new borrowers and minimize your risk
• Use robust monitoring to detect blind spots and accurately predict outcomes before they impact your CU 

As COVID-19 evolves and continues to impact our world, credit unions in particular, are facing a number of challenges ranging from a surge in call volumes, to government-mandated branch closings, to increasing economic hardships for members. A Gallup poll found that members who have experienced the most disruption from their credit unions expressed concern that their needs are not being met.  

Download this article to learn how other CUs are addressing the following member needs to improve their experience during this difficult time:

• Increase peace of mind by providing relief to get through this crisis
• Build hope with guidance and solutions
• Reduce unnecessary stress with easily accessible staff and tools

Discover how your CU can better support members today! 

Credit unions traditionally use benchmarks, metrics, and related performance analytics to measure how they stack up to their peers. While there’s value in comparing oneself to competitors with similar attributes, this default approach can provide a false sense of comfort. As the industry grows, zooming out to understand this bigger picture is essential if a credit union wants to remain viable.

Download this article for a closer look at why some of the most common measures might be leading your CU astray and how you can redefine your standard suite of metrics. You will discover key factors of measurement you should consider such as:

• Fee-based income associated with enduring, profitable clients
• Industry- or sector-specific revenue streams
• Level of risk and opportunity beyond your local economy 

Satisfied members help build your CU’s reputation and grow your organization. Member satisfaction is particularly important when it comes to problem resolution and the majority of the time they want to speak with a live person. This is why your contact center is extremely valuable - but can outsourcing give you a competitive edge in this area?

Download this article to learn about the benefits of outsourcing your contact center. You will discover how the right third-party contact center can:

• Accurately and consistently represent your brand
• Maintain control of your member experience
• Keep your members’ data safe and secure
• Help push strategic growth initiatives forward
• And More!

One of the many concerns that has arisen out of the COVID-19 pandemic is the ability for both businesses and consumers to conduct safe transactions. Your credit and debit card offerings are a key component to limiting physical contact between your members and merchant terminals or retail employees, but contactless payment capabilities can enhance safety even further.  

Download this white paper to learn why contactless payments are a forward-thinking investment that will give your CU a competitive advantage over other institutions and provide a better member experience. You will learn how contactless payments:                                

• Provide your members with a secure and time-saving payment method
• Benefit your members beyond the COVID-19 pandemic
• Can be easily explained and marketed to members
• And more! 

While a market share erosion storyline is playing out in real time, legacy lending systems have done nothing more than lip service in helping credit unions take on the fight against FinTech digital lenders. It’s time to consider next generation lending platforms that are democratizing this pre-qualification tech and making it more accessible in the industry. 

Download this white paper to learn why it’s time to ditch the traditional lending process and transform your CU’s lending economics in the following four ways:

• Accelerate direct loans volume, resulting in more of the most profitable loans
• Decrease adverse actions by presenting borrowers with qualified offers they will accept 
• Improve operational efficiency by at least 30% and lower costs
• Increase cross-sell loans and share of wallet without the need for additional application forms

A strong foundation for profitability planning is key to achieving your credit union’s goals. Drawing from extensive industry and finance experience, Syntellis' team has outlined five success strategies to guide your journey to a strong profitability plan.

Download this eBook for details on these best practices to improve your planning inputs, processes, and tools:

• Empower business line executives to think like business owners
• Create a solid foundation for planning
• Establish key performance indicators (KPIs)
• Optimize organizational profitability planning
• Ensure forecasting accuracy

Is your CU poised to thrive in today’s changing digital landscape? The path to provide your members with digitally connected products and services can be  costly and you may not know where to begin. To ensure you’re focusing on the right things, it’s helpful to understand where you’re at now.  

Download this assessment to evaluate your CU’s current digital maturity and understand how best to plan and scope your next steps. Key scoring areas include:

• Existing platforms for lending processes
• Member experience and engagement
• Digital marketing strategies and processes

It’s important to remember that an “all or nothing” approach to digital transformation is not the reality for most credit unions — and that each organization’s path forward is unique. In most cases, this is a process of evolution, not revolution. To drive sustainable growth, you need realistic and strategic steps you can take today.

Download this eBook and learn how to define and map your unique path toward growth. Topics cover:

• The 4 stages of growth 
• Identifying your starting point 
• Building a growth strategy on your own terms
• Overcoming common challenges and obstacles

48% of consumers have increased mobile banking usage as of August 2020.* Credit unions managing credit card programs should offer a slick and secure mobile application to attract and retain cardmembers. 

Download this white paper to explore the four pillars of an effective credit card mobile application:

• Security & fraud prevention
• Transaction insights
• Seamless DIY service
• Customized engagement

*J.D. Power, 2020

The smaller size of CUs compared to bigger banking institutions has forced them to use traditional (and cheaper) software offerings that are not only slow or hard to use, but also hinder your CU’s growth and innovation. By being able to pick and choose services that will fit your CU’s and your members’ needs, you can operate your CU in a true digital-first way. 

Download this playbook to discover how to move away from being vendor-dependent and enable your CU to:

• Use smart banking to improve your members’ experiences
• Integrate seamlessly with any third party solutions that would benefit your members
• Grow and innovate your CU the way you want to

As more members go mobile, does your CU have the right solutions to meet their expectations?

Today more than ever, members expect fast, fully digital experiences in all areas of their lives. And credit unions are no exception. From the initial onboarding to loan applications and modifications, members expect to glide through digital transactions without being bounced to other channels or directed to a physical branch. You need an intuitive, next-generation eSignature solution that digitizes the full member journey and provides the kind of experience needed to quickly onboard and service today’s members.

Download this eBook to discover how to easily harness the power of next-generation eSignatures and:  

• Simplify, accelerate, and guide your members’ banking experience
• Improve member loyalty by eliminating the frustration of clunky processes
• Eliminate legal risk and ensure compliance with a full audit trail
• Meet the growing remote need in the years to come

Whether your CU is in the middle of a digital transformation or evaluating how new technology can help improve member services, AI is everywhere and it can be difficult to know where to begin. AI for underwriting strikes at the heart of many CUs’ mission: to serve the financial well-being of its members. With AI lending software, your CU could raise loan approvals by 15% without taking on additional risk, making fair and transparent credit available to more members. It also allows your underwriters and loan officers to focus their time on member-relationships instead of data analytics.  

Download this eBook for an AI underwriting crash course and answers to many of the burning questions CUs have. Key topics include:                            

• Why and how you should incorporate AI lending 
• How to find compatible AI for your CU’s data needs
• How CUs are using AI today
• How to stay compliant with regulatory rules  

No question that the business community and economy has been hit hard from the pandemic. What is needed to move forward, and how can your CU help the community and small businesses get back on their feet?

Download this eBook and learn what solutions community banks and credit unions can provide to help commercial entities return to profitable operations in the months to come.

Plus, what impact these will have on the future of your organization. You’ll learn:

• How government aid has changed the banking landscape
• Compliance concerns with CECL and LIBOR
• Why a lack of digital adoption could hurt commercial lenders and SMBs
• How businesses will change in the coming year

Too often, credit unions consider their budgets “one and done” — a single budget based on one economic or underlying scenario. However, with so many unknowns in today’s market, what single scenario should be chosen as the baseline? 

Empower your organization to pivot rapidly. Using scenario planning, credit unions can model different circumstances and quickly adapt when conditions change. 

Download this white paper to discover: 

• 10 benefits of scenario planning 
• 5 hurdles to overcome 
• 2 types of real-world scenario planning 
• 5 structural elements to support success 

Behavioral shifts propelled by a concerted effort to flatten the curve have impacted almost every aspect of daily life, including how people pay and receive payments.

From a credit union’s perspective, concerns arise about how the payments industry will recover in the near and longer-term. Download this white paper and keep an active eye on these three primary areas of the payments industry in the coming months: 

• Consumer spending: How has it shifted?
• Increased risks around unemployment and credit losses
• Transition to technology

Gone are the days when the point-of-sale was simply a tool to record sales transactions. Recent developments have enabled numerous options for technology at the terminal, including contactless payments, mobile terminals, and more. 

As a credit union wanting to offer businesses a robust merchant services program, download this white paper to explore how the top five technologies at the terminal will help your organization satisfy both merchants and consumers.

Gen Z consists of about 68 million Americans with a purchasing power of close to $44 billion.² The oldest of which are now graduating college, entering the workforce, and beginning financial adulthood.

They expect fast service, fast results, and overwhelmingly prefer cashless payments. It is imperative that credit unions are aware of these needs and have a strategy in place to capture Gen Z members as they are now establishing important financial relationships. 

Download this white paper to discover what credit unions should know about Gen Z to successfully attract and retain them as members, including:

• Who Gen Z is and what they value
• Gen Z vs. millennials
• How credit unions can attract Gen Z

¹The Financial Brand, 2019.

²McKinsey & Company, 2018.