Competitive Strength
We’re continually finding new ways for financial institutions to yield unprecedented efficiencies and “wow” their customers. We’ll never stop priming the pump to help our clients succeed.
How can a financial institution more effectively compete for market share? How can it capture and retain customers who are constantly lured elsewhere? Fiserv helps banks and credit unions deliver services faster and more efficiently than their peers.
For instance, Greg’s credit union continues to impress him with every interaction. The member service reps always know exactly who he is and what his needs are. Greg can open a new account or apply for a loan with minimal paperwork — and without having to repeat information over and over again. How is this possible? Our Acumen® account processing solution for larger, forward thinking credit unions offers a broader view of members — and more personalized capabilities — than ever before. Take a look:
Greg urgently needs a new truck for his small business. He logs on to his credit union’s website to initiate a loan application online. He hits “submit” and Acumen automatically moves the application into its internal loan origination system, creating a workflow that’s customized for this specific type of member and loan. For example, it alerts loan processors that Greg needs to furnish a purchase order for the new vehicle because it’s for the business. Key documents and tasks required to complete this loan are efficiently generated, assigned to personnel, tracked and checked off throughout the enterprise – with no human prompting or sticky notes.
The next afternoon, Greg stops by the branch to drop off some required documents and provide a signature. The teller can instantly pull up his loan application on Acumen, get an up-to-the-minute status of where it stands and note the new information. The system’s browser-based technology gives the teller a 360-degree view of Greg’s financial relationship with the credit union, making it easy for her to suggest other relevant products and services.
But here’s a feature more meaningful to Greg: Acumen automatically ranks Greg as a “gold star” member since he relies on the credit union for all of his financial investments and lending needs. So, whenever Greg does any type of system activity — account balance inquiry, deposit, withdrawal, change of address, check reorders, CD renewal, etc. — Acumen instantly notifies the branch manager that Greg is in the office. The branch manager steps into the lobby to personally greet Greg and thank him for his continued business.
What’s more, Acumen enables the credit union to provide Greg with statements, applications and forms in Spanish, his wife Elena’s native language. This shows Greg that the credit union really cares about connecting with members.
