fiVI Blog

Know your member (customer) already? Then save some $!

In each release of ACCOUNTworks2 there is some gem of an enhancement that makes the account opening and member enrollment platform just that much more valuable for our clients. In late May we released Version 2.12.4 with a slew of enhancements, bug fixes and performance improvements.

The gem this time is a combination of upgrades that allow you to run different approval rules on your existing members than you would on new applicants. Why do we want to do this?

Glad you asked …

For starters, lets talk about the member experience. An existing member that already has a checking account and a couple of loans uses applies to open a new certificate savings account. In the processing of the application, you run all of the various credit, Qualifile and ID Verification checks and for some obscure data reason on the credit check the applicant’s request is set aside for manual review instead of approving them on the spot.

Of course, they’ll get approved and open that new account – but what did you tell them by not opening that new savings account right away? Not very flattering. Especially when you consider that we validated them and looked up their information from the host processor to begin with!

The second reason is to avoid running costly background checks when you are not going to use them. Like we said, you already authenticated the applicant as an existing member. So why run an added checks at a couple bucks a pop when you don’t need the information.

In ACCOUNTworks2 you can now bypass these issues – because the newest rev of the platform allows you to bypass running the checks or approval rules on members you already know.

Of course, there are lots of other improvements too – so check out the Release Notes here.

New Reporting Features in ACCOUNTworks helps you analyze your account opening process

The most recent update to ACCOUNTworks2 (v2.12.3) gives clients more ways to analyze and monitor your account opening processes. In addition to the Dashboard tools that were highlighted recently, the newest release provides the first slug of reporting tools to help you drill down into various aspects to see what is going on.

Applications are unique. They come from different places, different channels, new members and existing members. Several new Application Reports help you take a look at many of these factors. Each – of course – allows you to filter report results by the time frame that you are interested in.

Along with the Application Reports, we updated the Form & Task Reports to be more helpful and provide more information. Want to know how many open tasks a staff member has on their plate? … or how many new forms from this week are still pending review? Just fire up a Form or Task report and find out.

To learn more about the analysis tools in ACCOUNTworks clients can check out the help site article called Analyzing Information (Search, Reports & Charts).

As always … look for new features from fiVISION soon!

New ACCOUNTworks Feature – The Dashboard

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Recently we added a new feature we think is pretty cool in the ACCOUNTworks 2G platform. We call it ‘The Dashboard’.

The purposes is to give users more information about what is happening in their organization with account applications – how many are coming in? being approved? how much funding is involved? When we sat down to figure out the best way to help people get that information we reached two important design decisions. First, depending on what you do in the organization you might be interested in different things. Second, pictures are better than numbers.

So, today we are telling you about the dashboard. Here’s an example widget (chart) that is already available to you.There are several initial widgets to choose from (we say ‘initial’ because we know you’ll want more soon!). To learn more about how to set up your Dashboard – go to the help site for ACCOUNTworks and read more about it! (easiest way is to type ‘Dashboard’ in the search box there …) Have fun!

 

 

Pause … and Refresh your Head

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A couple of weeks ago I grabbed a stack of unread trade rags and headed over to the local Starbucks to sit down and catch up on some reading with a cup of coffee. By the size of the stack I apparently had not done this in a while.

While browsing through the articles and reading the interesting items, I found myself wondering how many of these ‘headshot’ photos of the people associated with the articles are up to date? I also made a mental note to refresh mine because it is definitely a few years old now!

It could have been the quiet time away from the computer/tablet/smartphone … or it could have been whatever addictive ingredient is placed in the coffee … but my mind started to open up and some new thoughts and ideas and questions began to form. It was in that moment that I realized that I needed to do this more often.

In today’s world so much of what we see and read happens in little tiny snippets.  Blogs, email newsletters (you probably just read the headlines, don’t you?), twitter, you-name-it … and we jump from topic to topic as a new email or phone call or meeting happens.  The one thing that is missing, at least for me, is some dedicated time to just sit and think.  (more…)

Buyers Buy

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Can service-oriented staff really sell?

In the few years that I’ve been involved in fiVISION we have been interested in helping our credit union clients get better at cross selling. We even have some products that address this goal specifically … but, I have to say that there are some really different philosophical approaches to selling out there. Most of these discussions rotate around having staff – who are traditionally service oriented – become super sellers. Does it work?

The prevailing wisdom in the industry is that we need to provide sales training … to foster a sales culture … to position staff to be able to engage customers in a conversation that results in a sale of a new account or an expanded service. In other words, teaching staff to sell … because as we all know, sellers sell, right?

Hogwash. (more…)

Is Real-time Really Real-time?

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Quite often in the technology end of the financial services world we refer to so-called ‘real-time’ data communications and systems. Usually we are talking about some system-to-system interface whereby an action on one system automatically updates or causes action on another system in a relatively short time span (usually measured in seconds or less).

Last Saturday I got the chance to wander the pits during qualifications for this year’s Indy 500 and I couldn’t help but notice that what they call real-time is a lot more real than our real-time. You see, at Indy there are systems that track each car around the 2.5 mile race course at all times – including when sitting in the pits or on entrance and exit lanes to the track. (more…)

Do you really want your icing without the cake?

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If you’ve been reading some of my writing, you already know that I’m big into old ‘adages’ and ‘clichés’. This one is pretty obvious – the adage being ‘the icing on the cake’.  A quick investigation into the meaning and background of this phrase confirms what we all think it to mean, something along the lines of:  ‘An additional benefit to something that is already good’.

As a side note, I’m not quite sure why I rely on these old phrases except that I do find them generally to be pretty darn accurate. Usually offered up by older wiser, more experienced folks in various life situations, they tend to be based on a collective body of experience that is truthful, honest and sometimes all too direct.

For example, while writing this article another vision about a similar adage (it involves cake too) comes to mind. I can still see my grandmother saying while sternly looking over her glasses and down her nose at me: “Michael, you can’t have your cake and eat it too.” I really have no idea what that means … guess I’ll need to investigate it a bit further.

But let’s get back to the icing on the cake … or rather … the question of having your icing without the cake. (more…)

Of Cadillacs and Chevrolets …

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Over the years I’ve heard something like this said many times: “Well, they want a Cadillac but they really only need a Chevrolet!” This colloquialism obviously goes back to the days when GM was really a dominating auto manufacturer … but I don’t think it really has as much to do with cars as it does with human nature.

The Difference between ‘Musts’ and ‘Wants’

Most everyone I know likes nice things. We like to see them, have them, use them. Anybody who doesn’t like nice things we sometimes label as ‘out there’ or ‘different’.

Even so, there are a lot of nice things that … well … just are not really necessary. Or even useful. C’mon, think about it. You bought that fancy stereo system last year. Before doing so you really dug into the research to make sure that the one you bought was the absolute best there is, right? (more…)

Merry Christmas Everyone! Count your blessings this past year …

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Wow. What a year. I suppose we should have known that 2009 was going to be very ‘unique’ () as we headed into it because of the downfall of the stock market and near financial collapse of the fourth quarter of 2008. That said, I don’t think we really thought that it would affect the credit union industry all that much. After all, the collapse was about ‘big banks’ and ‘Wall Street’ right? – those faceless, nameless giant blocks underpinning the country’s financial system. (more…)

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