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4 Technologies Credit Unions and Smaller Banks Can Use to Compete with the Big Boys

Jul 7, 2021 8:00:00 AM

digital transformation in banking person on laptopIn the age of big banks, smaller banks and credit unions have their work cut out for them when it comes to meeting the needs of the modern banking customer.

Lacking the deep pockets of their more well-established counterparts, these smaller organizations don’t have the luxury of investing in whatever tools they feel like.

That said, smart investments in tools designed specifically for smaller banks and credit unions can make all the difference when it comes to meeting the expectations of modern members and customers, increasing organizational efficiency, and streamlining essential workflows.

With all this in mind, let’s take a look at four tools that have the power to accelerate digital transformation in banking and take your credit union or community bank to the next level.

1. eSign

If your bank or credit union is still requiring employees and customers to sign paper documents, it’s time to modernize your approach to banking by embracing eSign technology.

Simply put, eSign enables employees and customers alike to sign legal documents electronically. Not only does this deliver convenience and a modern digital experience, but it also allows credit unions and banks to remain operational while maintaining social distancing.

2. ePrint

Historically, banks and credit unions have relied on pre-printing mountains of documents to ensure they had the right forms on hand when customers needed them. Not only does this approach require credit unions to stockpile a ton of paper and set aside the physical space to do so, but it also creates a lot of waste. 

For example: Imagine having 2,000 copies of a form, giving out 1,000 copies of it over a few years, then having to update the form and toss the older documents that are left over. That’s not the most efficient way to operate, to say the least.

You can solve this problem with ePrint—technology that securely prints forms and other documents at your convenience, thereby increasing organizational efficiency.

It might seem too good to be true, but it isn’t. To see for yourself, request a 30-day free trial of ePrint today.

3. Laserfiche

Laserfiche is a digital content management solution that increases organizational efficiency and streamlines day-to-day operations in credit unions.

With Laserfiche, you can ditch slow, paper-based processes, thereby reducing the amount of errors that slip into documents due to human mistakes. What’s more, you can also use Laserfiche to track down information faster, increasing workplace productivity.

For more information on why more and more credit unions are investing in Laserfiche, check this out.

4. eTeller

Instead of making staff tackle repetitive tasks on a continuous basis, you may want to look into eTeller—a multifunctional document workflow solution that allows tellers to focus more on the customer standing in front of them, and less on the minutiae of the transaction.

With eTeller, you can easily provide personalized, convenient experiences for customers and members. Staff will also be able to anticipate consumer purchase behaviors and identify upselling opportunities in the moment.

See how digital transformation in banking can transform your organization!

At this point, you are probably thinking that all of these technologies sound great. But you may lack the in-house resources needed to implement them seamlessly, so you might be wondering about how you can actually get up and running with these new tools.

Guess what? There is no rule that says you have to do it on your own. By joining forces with a proven partner, you can ensure that you succeed with your digital transformation in banking. 

To learn more about the easiest way to overhaul your credit union’s tech stack and bring your offerings into the 21st century, check this out.

St. Tammany case study with CDP

Kait Kluz
Written by Kait Kluz

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