If you are a bank or credit union operating in today’s market, providing an excellent digital experience for your customers and members is likely a top priority.
For this blog, we set out to find some of the most innovative credit union and banking software on the market today and noticed a recurring theme: Most of the technologies on our list had a similar goal — to help financial institutions improve the consumer’s digital experience. So, while each software vendor on our list below provides a unique offering, they all contribute to the common goal and number one strategy of banks and credit unions today: Create the best customer or member experience possible across all digital channels.
Mambu is a SaaS banking platform for digital banking and lending that bills itself as an alternative to traditional core banking systems or custom in-house solutions. Mambu has been named to the FinTech50 for three years in a row and recently opened a new office in Miami, adding to its other offices in Singapore, Dresden, Berlin and Iasi, Romania — promising signs for a growing company looking to compete in a tough market.
Symitar is a division of Jack Henry & Associates, one of the largest core data processors and one of the three primary players in the financial space. Symitar focuses on credit unions, offering core data processing through one of its two platforms, the Episys (an IBM system) or CruiseNet (a Windows system).
Malauzai offers mobile and online banking solutions for community banks and credit unions. Their solutions utilize the SAMI (SmartApp Management Infrastructure) platform which allows for real-time updates and REBA (Real-time End-user Behavior Analytics) to provide customer insight and improve decision making.
With the largest credit union auto lending network in the nation, CU Direct has a history of success. And the good news for credit unions is that they do more than just auto loans. CU Direct’s Lending 360 platform offers a loan origination and new account opening system all in one. When Visions Federal Credit Union implemented Lending 360 they saw a $30 million spike in loan growth during the first three months compared to the same three months in the previous year. CU Direct takes full advantage of its cloud-based functionality by undergoing constant iterations and pushing out regular updates to ensure continual platform improvement. Built based on the Microsoft architecture, Lending 360 is also extremely intuitive, helping credit unions get employees up and running fast. Overall, CU Direct can help credit unions reduce paper usage, improve cross efficiencies, increase loan decision speed and unify the member experience across channels.
If your credit union uses Symitar as its core and you’re looking for innovative mobile banking software, Access Softek should be at the top of your list. They are regularly and proactively rolling out new features to the market as they continue to “help clients stay ahead of the technological curve” through technologies such as biometric authentication. It should be noted that although they seamlessly integrate with Symitar, Access Softek can work with any financial institution. If you’re looking for a forward-thinking mobile banking vendor that has innovation and security top of mind, Access Softek is one to consider.
SilverCloud offers two primary products built specifically for banks and credit unions. SilverCloud Breeze lowers technology support calls and improves the digital experience in banking web and mobile sites. SilverCloud Compass provides employees access to information they need to answer customer and member questions regarding products, procedures, and policies. When Institution for Savings implemented SilverCloud Compass, employees asked SilverCloud up to 1000 questions per day instead of asking other employees and SME’s. You can learn more by attending our free webinar. Register here!
Utilizing artificial intelligence and machine learning, MicroNotes offers financial institutions a very targeted, non-intrusive approach to digital marketing. By leveraging fast automated interviews, MicroNotes helps financial institutions engage with customers and prospects, naturally, through their digital channels.
Need to translate your website or content into multiple languages? TransPerfect is one the largest translation companies in the world and offers translation services that even the most highly regulated businesses, such as banks and credit unions, can trust.
Need a solution that will speed up the new account opening process? With Gro customers can open a new account via any of your financial institution’s digital channels in less than four minutes. Gro offers a mobile responsive account opening solution with the ability to quickly scan any required documentation, such as a driver’s license. Gro can help you show customers and members how easy it is to do business with your bank or credit union.
MX is a digital account aggregation platform that offers a beautiful and clean UX with strong data analytics capabilities. MX is constantly releasing new iterations (roughly every 6 weeks) and is an emerging leader in the marketplace when it comes to helping financial institutions enhance the user experience and drive loyalty.
Technology is changing banking. In fact, it’s changing just about every industry today. Banks and credit unions that embrace the new digital revolution will be able to evolve with changing customer expectations and successfully meet new market demands. If you would like to learn more about how your bank or credit union can leverage the latest financial services technologies to improve the customer or member experience and take the next step in your digital journey, contact our team here at SilverCloud.