Resource Center

Customer support teams have faced unprecedented challenges in recent months. For many organizations, the tough circumstances shone a harsh light on gaps in a critical area: digital engagement. And while the benefits of digital engagement have never been more clear, sometimes the path to execute looks a bit muddy.

Download this eBook which defines a five-phased approach you can use to evolve your digital engagement rapidly. You’ll learn how to:

• Fortify your digital self-service
• Amplify your digital support
• Empower your employees
• Optimize your support strategy
• Evolve to the next level of self-service

Unitus credit union faced a few challenges they were looking to solve: increase adoption with their new online banking platform, reduce reliance on physical branches, and expand member access to product and services. This case study explores how they increased adoption and helped members successfully use their online services—especially revenue-generating loan applications—without having to disrupt the online experience. 

Download the case study and learn how a video-powered digital member service platform helped them to: 

• Reduce online banking handle times by 28%
• Achieve fluidity between chat, audio and video, document sharing, and co-browsing
• Achieve 85% of members saying they would use the “Virtual Branch” again

The costs associated with fee and interest income when running a credit card program may be more complicated than they seem, especially if the program is not optimized. 

Download this whitepaper to understand factors that can affect the profitability of your credit union’s credit card program, including:

• Profit margin pressures
• Interest income: WAAPR vs. Revolve Rate and Fixed vs. Variable Rate
• Costs of interest income
• Fee income: direct and interchange
• Overall effect of costs on profitability

Consumer standards are moving toward a more cohesive and unified experience across all channels, including a single portal for business and consumer account opening and lending. Additionally, 71% of financial institutions are partnering with fintechs to rapidly evolve and grow market share in this evolving consumer landscape. 

Download white paper to discover:

• Why consumer standards are moving toward a more unified experience
• How fintechs play a part in digital
• A new path toward digital transformation built on design thinking
• How to provide a best-in-class experience

With over $1.3T in outstanding debt, auto lending is one of the largest consumer lending categories behind mortgages.¹ Despite its large size, banks and credit unions have struggled to build an auto loan portfolio that is both large and profitable. However, new market trends and innovations in AI underwriting technology now make it an emerging opportunity to fuel the growth of lenders’ auto loan portfolios.

Download this eBook and you'll learn 3 key strategies for winning in auto refinancing, including:

• How to market the opportunity
• How to make a compelling offer
• How to remove barriers for consumers

¹  Household Debt and Credit Report, Federal Reserve Bank of New York, Q4 2020

Today more than ever it is important for credit unions to future-proof themselves to compete against digital banks and tech giants entering the financial institution space. We now live in a time when members are influenced by the likes of Netflix, Amazon and Uber and they demand similar experiences from credit unions.

Many credit unions continue to use disjointed solutions while delaying their core system upgrades. As a result, outdated core systems are hindering the ability of credit unions to drive digital transformation. Credit Unions not only need a core solution to meet members' expectations today, but they also need to be futureready as expectations are constantly changing.

Access this on-demand webinar where technology experts and credit union leaders discuss why a cloud-based open core banking solution is more important than ever for driving innovations at credit unions. You’ll learn:

• How credit unions can achieve growth and win members.
• Why risks of inaction are far greater than the perceived risk of the digital transformation. 
• Key questions you should ask about your core system.
• How credit unions benefit from the cloud.

With the manual effort involved in the mortgage origination process, and the challenge for loan originators and underwriters to keep up, the entire process is subject to error and delay, presenting a significant strain on credit unions and banking institutions. But leveraging intelligent automation improves efficiencies, streamlines data entry, and enables you to deliver better member experiences.

Download this insightful guide and learn how intelligent automation can boost the mortgage lending process. In this guide, you will learn:

• Five key challenges banking institutions face in mortgage processing
• Why mortgage processing automation is crucial to your bottom line
• How to leverage intelligent automation across multiple areas of the mortgage origination process 

After the economic downturn of 2020, credit unions can’t afford to overlook opportunity segments “hiding” in plain sight. In this episode of The Marketing Insider: A Claritas Podcast, host Monique Ruiz joins Coopera Consulting’s Victor Corro and Claritas’ Catherine Spisszak to discuss the top challenges CUs face as they solidify their 2021 go-to-market strategies. 

Listen to the podcast now to learn:

• How supporting local organizations can help you achieve a competitive edge 
• What the rise of fintech means for traditional banking institutions
• How to get involved on a hyperlocal level to reach the underserved and underbanked

Manual mortgage origination is a tedious, multi-step process, which is why credit unions and other lending institutions are having difficulty keeping up with the high demand. Credit unions and banking institutions that are using Robotic Process Automation (RPA) to automate interactions, data entry and extraction, and reporting are increasing their productivity and efficiency while eliminating costly errors. 

Download this whitepaper to learn how RPA can process applications quicker and streamline your credit union’s mortgage-related tasks, including:

• Reviewing file logs and feed data back 
• Automating credit prequalification process
• Creating and sending files securely (sFTP)
• Sending conditional approval or rejection letters 

A digital-first strategy is now imperative for CUs. But digital acceleration introduces vulnerabilities for increased fraud, money laundering and other illicit activities. Credit unions that are successful in securing digital acceleration will set themselves apart from their competition and thrive. 

Download this white paper that examines the importance of delivering seamless, yet secure digital experiences and faster payments options; and offers solutions for CUs to execute on this very critical mandate. Topics include:

• The post-pandemic digital acceleration 
• The growing demand for faster payments
• Keeping pace with evolutions in P2P services
• Real-time protection against mobile fraud
• In-depth case studies

Some might say Video Banking is already a "next-generation" technology, and in many ways it is. But even though using video to provide face-to-face communication with remote experts is a welcome addition to online banking, it is the next-gen combination of AI, chat, cobrowsing, voice, and video that truly creates a consistent customer experience.

Video banking must be deployed and built from the ground up to enable a seamless experience with unified reporting. Download this whitepaper to learn:

• The many uses of video banking
• Why next-gen video banking delights both members AND agents
• The power of AI and on-screen member collaboration in customer service
• How to ensure it becomes a seamless, unified and productive experience

Your credit union collects data on member behavior, member preferences, and overall member patterns every day. One of the most valuable actions a credit union can take is to empower employees to use raw data well, which leads to better business decisions and promotes future growth.

Credit union leaders use data to drive results. One proven way to accomplish this goal is to apply analytics and knowledge to gain meaningful insights.

Download this guide to get the seven disciplines of data management and understand how with these insights your credit union can: 

• Improve member experiences 
• Increase product penetration 
• Optimize marketing campaigns 
• Increase operational efficiency 
• Reduce costs

Rapid digital adoption continues to drive consumer interaction, which translates to growth for the credit card industry. For CUs, up to 50% of net income can be derived from credit cards. With the right strategies, your card program can become one of your highest earning assets.

Download this guide and learn how to enhance your card portfolio growth to boost your total revenue in six easy steps; including:

• Credit line increases
• Rewards
• Balance transfers
• How to target new accounts
• Analyze and utilize your data
• How to consistently market your program

Credit unions now compete in a data-driven world. Is your credit union keeping up on its data analytics insights? 

Credit unions that utilize analytics to help guide their business decisions and improve their key performance indicators can gain more market share in member loan origination, mortgage loan origination, payments, and a variety of other programs. 

Download this guide to gain a better understanding of trends and opportunities relating to members, branches, operations, dealers, and more through analytics. You will learn: 

• Why it matters
• How to get started
• Key insights to be aware of
• 5 types of analytics for credit unions
• 5 tips to getting the most out of analytics

In collaboration with CO-OP, EY conducted a market research survey of 2,000 credit union members and 1,000 prospects across all regions of the U.S. to determine preferred banking behaviors. Research shows financial consumers' needs have changed in recent years. 

To address these evolving needs and expectations, credit unions must develop a comprehensive strategy to address the member experience by employing “needs-based segmentation” to better serve their members. 

Download this white paper for tips and deeper insights into the survey results;  including:

• How the financial landscape is evolving
• What is at the center of the primary financial relationship
• 3 keys to gaining active primary financial relationships
• Top 10 most impactful features for members and prospects
• What credit unions need to do now

As the demand for personalized banking experiences continues to grow, credit unions must fully embrace data analytics offerings to stay competitive and reach revenue goals. 

Download this ebook to get the insights you need to start your CU's data analytics journey today. You will learn how to:

• Boost productivity and lower expenses
• Improve member acquisition and retention efforts
• Enhance risk management, capital adequacy, and stress testing
• Improve fraud detection and cyber security
• Plus, much more!

To stay competitive, credit unions must deploy a sound analytics solution that provides accurate, timely and complete information in order to make informed business decisions that are based on facts rather than assumptions. With analytics, credit unions can develop 360° views of each member to improve member engagement-and-retention effort and provide more engaging, customized experiences in-person and online.

Download this guide to learn how to make your credit union more productive, efficient and member-oriented. Topics include:

• Powering through the pandemic
• Serving members in crisis
• How does your credit union stack up?
• Becoming data-driven
• The future: powered by analytics
• What if you could…
• What’s the hold up?
• Getting started
• And more...

Targeting new prospects is key to driving CU membership growth. In a digital environment when consumer behaviors are shifting rapidly, it’s imperative that marketers stay in front of audiences in multiple places throughout their daily touchpoints. Learn how to easily execute an acquisition email campaign to expand your reach and increase engagement. 

Download this white paper for 10 tips on launching a successful acquisition email campaign; including: 

• Reach high-value prospects with segmentation data 
• Boost ROI by actively evaluating your email campaign 
• Use multi-channel measurement to evaluate response 
• Retarget your anonymous website visitors 
• Plus, much more...

The U.S. dollar is the default currency choice for global transactions. Leaving small and medium-sized business owners with ongoing foreign payment needs. Due to  payments technology advances, it’s now easier than ever to deliver funds to beneficiaries around the world.

The challenge is putting this technology to its most effective use. By offering your members the ability to send international payments in their recipient’s local currency you will help meet evolving member expectations, boost your bottom line and strengthen retention rates.

Download this e-Guide and learn the benefits of offering local currency payments as well as hidden costs of paying in U.S. dollars; including:

• Higher costs from FX charges, bank fees and currency risk
• Delays from intermediary banks and added transaction steps
• Lack of cost and profit protection against FX rate movements

Personalization in digital banking is crucial for CUs to stay relevant and meet the demands of their members. In fact, 65% of consumers prefer to only be offered products and services that are relevant to their lifestyle. To succeed, you’ll need to shape a differentiated brand built on the bedrock of personalized service.

Download this white paper to learn how you can build a truly personalized experience that exceeds all of your members’ expectations. 

• Why the inability to differentiate hinders member acquisition and retention
• How data helps to build better customer experiences
• Tips to help evaluate your brand in your audience’s eyes

America’s unbanked or underbanked population is still being underserved. A recent survey from Forbes found over one in five Americans do not have their own bank account — many are minorities or immigrants with families and businesses overseas. Additionally, despite being the fastest growing market segment in the U.S., Latino businesses remain significantly underserved. This is a prime opportunity for credit unions to capture new members and better serve their communities. 

Download this whitepaper to learn how with just a few small adjustments your CU can fill a gap and better serve minority communities and onboard new customers; including: 

• Targeted outreach
• Financial education
• Digital-first banking
• International services

Lenders in financial services recognize the potential of artificial intelligence (AI) to transform underwriting and fraud detection — but one major hurdle to the broader adoption of these models has been concern over credit performance during an economic downturn. 

Over the last year, the economic stress from COVID-19 provided the opportunity to observe the performance of an AI underwriting model. 

Download this report for a deep dive into AI-enabled underwriting performance during the 2020 pandemic. You’ll learn how:

• At the peak of the crisis, impairment increased 40% less than the industry as a whole
• Fewer borrowers required a hardship program, and more of these borrowers began promptly making on-time payments
• The Upstart Risk Tier was 6 times more effective than credit score bands at separating the risk of payment impairment
• The ability for their AI model to separate risk tiers translated into significantly lower payment impairment rates for bank partners

AI-driven lending has demonstrated big business results, but lending leaders are still challenged to chart a successful implementation strategy. Achieving better lending, strong ROI, and competitive advantage looks different in every organization, so should you build, buy, or rent AI capabilities? 

Download this guide that provides credit unions with an updated framework to evaluate the pros and cons of various approaches to AI-driven lending and covers the key considerations to keep in mind to ensure your investments deliver the outcomes your community deserves. Learn how to:

• Assess the AI lending options in the marketplace
• Evaluate the pros and cons of each adoption strategy
• Identify key factors to consider throughout evaluation
• Apply an informed framework to your decision-making process

As more and more credit unions turn to tech to meet the needs of members, the right digital solution can provide access to a wider audience as well as more comprehensive member data than the traditional credit score criteria. This is what KEMBA Financial CU discovered as they sought a fresh perspective to digital lending that could enable them to provide more people with access to affordable credit.

Download this case study to learn how this Columbus-based credit union successfully launched an AI lending program. You’ll get a first-hand look at how digital technology helped: 

• Improve data automation for faster loan approvals and risk assessment
• Serve more members and prospects across its community
• Offer higher unsecured personal loan amounts while tailoring pricing
• Cultivate lasting relationships with members with memorable brand experiences

Given the tough environment CUs now face due to the pandemic, the demand for AI innovation is greater than ever and CUs are adopting new technology to more effectively assess credit and loan eligibility. However, with AI project failure rates nearing 50%, the need for a proven roadmap is critical. 

Download this guide for a step by step approach and best practices from lenders who have moved to AI-powered underwriting to gain a more holistic picture of members and make better and faster decisions. You will learn how to:

• Communicate AI’s impact to stakeholders within your CU 
• Execute your AI strategy with project timelines, data considerations, and more
• Select the right goals and metrics to establish ROI and optimize your AI investment

Too many Americans are left out of mainstream credit due to lenders’ inability to assess risk accurately, which also creates lost opportunities for credit unions and other lenders. New technology can help lenders increase credit access to people of color and others traditionally denied loans without added risk. 

Download this special report that outlines how to stop leaving money on the table and start lending more inclusively - building a fairer, more equitable financial system. You will discover how to:

• Extend credit safely to difficult-to-assess borrowers
• Build more accurate and inclusive credit risk models
• Improve fair lending analyses and practices