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Behind every credit card transaction is an opportunity for financial institutions to generate revenue through interchange and fee income, harness analytical cardholder-spend data and behavioral insights, and even create stickiness with customers or members through loyalty programs.

Financial institutions that don’t include Digital Customer Service to support their card programs and cardholder-facing tools, however, risk negative cardholder experiences that could ultimately jeopardize the entire customer or member relationship—and who wants that?!

Download this white paper and you will learn:

• How Digital Customer Service can enhance credit card offerings
• The importance of a well-structured card program
• The shortcomings of the cardholder experience as we know it today
• How incorporating a well-designed digital cardholder servicing strategy can save the day

For the first time, credit unions surpassed $1.2 trillion for their total loan portfolio in April 2021. This is an incredible achievement. However, it’s important to ensure the success of the loan—from open to payoff. With digital services accelerating over the last eighteen months, CUs need to give strategic thought to their operations and how they can keep pace to meet member expectations. 

This white paper explores a recent webinar discussion between Mary Woodard, Chief Operating Officer of Granite Credit Union, and Mark Ranta, Payments Practice Lead for Alacriti, about what credit unions can do to have more valuable loans through digital transformation. 

Download this paper to learn how to achieve this through:

• Seamless payments—recurring and automatic
• Uncovering new opportunities with indirect members
• The importance of setting a lending strategy and reducing friction
• Advantages of a universal employee model

Sierra Pacific recently celebrated 30 years in business. After surviving the 2018 financial crisis, they set their sights on future-proofing from market shifts and reimagining ways to improve the antiquated, 30-year old mortgage process, in dire need of modernization.  

The team saw this an opportunity to re-engineer how the mortgage process should operate in the future. Through rigorous refinement and workflow optimization, Sierra Pacific is now enabled to close a refinance in just 7-10 days.

Download this brief to learn the top tips to achieve a 7-day closing; including:

• Choosing vendors with up-to-date processes
• Being upfront and transparent with customers
• Preventing operational inefficiencies and delays
• Re-engineer the closing workflow

How effective are your existing security controls against a skilled adversary? The best way to find out is by running a penetration test (a.k.a., pen testing). Pen testing uses the same techniques as a hacker to assess the security of an organization’s IT environment. During these evaluations, security vulnerabilities are uncovered and safely exploited in order to determine and prioritize risk for the organization. This gives organizations a path forward for remediation and provides proof of compliance for any industry best practices or regulations.  

Download this guide to learn the basics of pen testing and how you can incorporate them into your own security strategy; including:

• Intelligent vulnerability management
• Adherence to regulatory requirements
• Avoiding the costs of a breach
• The 6 stages of pen testing 
• How to maintain your testing moving forward

What if you could confidently clear titles within seconds — not weeks — to increase speed and accuracy in mortgage closings approved by the secondary market? Through a uniquely powerful combination of machine learning, public and private data sources, and predictive algorithms, instant title can determine how safe a property is from potential liens and other liabilities and provide a title commitment for 80% of refinance transactions – in less than one minute. That means your lending team can tap into a streamlined process to finance more loans for a wider variety of homes in a shorter period of time. 

Download this brief and learn how to transform your title search process with a streamlined solution. You will also learn how one credit union:

• Achieved instant clear-to-close for 84% of transactions
• Cut closes by three business days
• Reduced fees for mortgage customers by 15%
• Increased closed loan applications by 5%
• Raised capacity per processor by nearly 20%
• Recorded 93% customer satisfaction — greatly outperforming the industry standard average of 77%

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

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...

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

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