News & Events
Sb1 Federal Credit Union ($535 million; 31,835 members; Philadelphia, PA) used to employ six different programs for its new membership opening process. To consolidate this cumbersome operation, Sb1 implemented fiVISION’s automated account opening solution, ACCOUNTworks 2G, in July 2011. Since then, SB1 has saved nearly 30 minutes for each membership account opening, cutting the operation from 30 minutes down to 5 minutes in most instances. In addition to opening new member accounts, ACCOUNTworks 2G allows existing Sb1 members to quickly and conveniently open new accounts without ever having to visit a branch. (more…)
fiVISION CEO Mike Winter met with CUbroadcast.com’s Mike Lawson to talk about the challenges small CUs face trying to ‘keep-up-with-the-Joneses’ technologically. In the face of a societal trend to offer more and more services online, how do they find the resources to be able to keep their offerings on par with the competition? Take a look at the discussion here …
Providing credit unions with a more streamlined application technology to enhance the ease of member enrollment and account opening efforts both online and in the branch, technology provider fiVISION has upgraded its original accountWORKS software to the new ACCOUNTworks 2G solution. E Federal Credit Union ($250 million; 26,946 members; Baton Rouge, LA) went live with the technology in Q1 2011.
fiVISION has implemented its new ACCOUNTworks 2G solution at Members Exchange Credit Union ($64 million; 14,509 members; Ridgeland, MS). Members Exchange went live with the technology in March 2011, using ACCOUNTworks 2G for online account opening for both existing and new members.
Prior to ACCOUNTworks 2G, Members Exchange had an existing “online membership application.” Because of the requirements of the USA Patriot Act, however, the credit union would still have to contact the potential member and have them bring in or mail identification. This procedure did not give them the ability to provide that ‘quick response,’ and therefore, had never been very successful. (more…)
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.
Because of the unique parameters associated with Health Savings Accounts (HSA), most enrollment and account opening solutions don’t quite fit the bill. fiVISION, a CRM solutions provider that enables enhanced member service and sales for credit unions, has developed an affordable Health Savings Account Opening Module for credit union members and nonmembers alike. E Federal Credit Union ($240 million; 24,472 members; Baton Rouge, LA) launched the module, called autoENROLL, on June 18, 2009.
According to E Federal’s EVP of Operations, Stephen Mathews, new and existing members are able to go online, complete an application, open and fund an HSA account with E Federal Credit Union. As part of the online process, they are able to order checks as well as a debit card to access funds in their HSA account. Through automated cross-sell offers, they will be able to gain additional products and services.
fiVISION has developed an online loan application module that integrates the process of becoming a new member and getting a loan approval at the same time. This consolidated process bypasses all data entry screens, streamlining this task and eliminating the redundant manual inputting of member information – which allows the individual to become a new member and get a loan all in one session without retyping any personal and financial data.
The new module, launched initially at Digital FCU ($4.4 billion; 370,309 members, Marlborough, MA) is replacing an outsourced solution to provide a quicker, enhanced member experience at a reduced cost. According to Diane Richard, Vice President of Consumer Loans for Digital Federal Credit Union “Thirty-two percent of our members do their loan applications online,” Richard says. “So it’s very important that this process works well and is efficient. And fiVISION’s web loan module does just that. Its automation simplifies the whole process for our members by doing most of the work for them.” (more…)
Liberty Bay Credit Union ($529 million; 26,789 members; Boston, MA) has selected fiVISION to use its accountWORKS platform to enhance the speed and seamlessness in enrolling new members (both online and in-person) and open new accounts online for existing members. The credit union, which runs on XP Systems’ XP2 core processing system, will also leverage fiVISION’s Enrollment Cross Sell module to offer additional products the member applicant is qualified for but did not select during the application process. (more…)
fiVISION has developed a “Screen Pop” module that integrates with the credit union’s telephony system to streamline the process of getting a users to the right place in the memberWORKS CRM system without having to re-enter information. This module, which is already in operation at Digital Federal Credit Union with Nortel’s Symposium platform, can be used with any telephony platform that will support interactive CTI (computer telephony integration). It can also be used to build Single Sign On capability with other systems that contain member data. (more…)