fiVISION has launched a new process automation tool in its MEMBERworks platform to improve workflow and cut workload to process Wire Transfer requests. The new Wire Transfer Automation module that integrates the process of becoming a new member and getting a loan approval at the same time. The new module simplifies and streamlines the processes associated with capturing, approving, and sending wire transfer requests from members. This process also has the capability of “auto-approving” a member’s request in real-time while alerting staff to investigate other requests before processing.
The new module, launched initially at Digital FCU ($3.9 billion; 331,202 members, Marlborough, MA) is shaving several minutes off the processing time of each request. According to Craig Roy, Vice President of Support Services for Digital Federal Credit Union “We process a lot of wire requests – and the automation features in this new module are very smooth, and allow us to focus on the exception items in our daily operations. It also helps our staff do a better job more efficiently, saving us costs in the long run while maintaining a high level of service.”
When new members join credit unions, it’s well known that this time period is essential in selling them certain products and services that will meet their financial needs. To accomplish this goal, credit unions are in constant contact with their new members to induct them into the credit union and all its offerings – a process called “onboarding.”
Sb1 Federal Credit Union ($490 million; 32,881 members; Philadelphia, PA) was searching for a tool to facilitate its onboarding process and has signed with fiVISION, a CRM solutions provider that enables enhanced member service and sales for credit unions, to use the company’s memberWORKS product as a contact
management system to support this process. Sb1 goes live with memberWORKS in early November 2009.