Reap the benefits of a modern tech stack
Technology is key to providing a digital-first member experience.
Credit unions must have a comprehensive technology modernization strategy to thrive amid disruption and competition in the dynamic landscape of financial services. If you can’t meet the shifting needs of your members, you stand to lose market and wallet share. When you adopt a future-ready technology approach and an open platform, however, you can enhance operational efficiency, protect your credit union—and your members—from cybersecurity threats and fraud, and deliver an exceptional, digital-first member experience.
Operate more efficiently
If you still rely heavily on manual processes, it’s time to make a change. Your members expect the speed and convenience they’ve become accustomed to in every other area of their lives, and you need a modern technology stack to deliver it.
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By automating your business processes, you’ll be able to identify inefficiencies, and address workloads, labor-intensive tasks, and legacy data. This will create a positive ripple effect throughout your organization, saving time, reducing costs, and enhancing overall productivity.
Reduce risk and fraud
With the digitization of financial services, managing enterprise risk has become more complex. There is a myriad of challenges, from securing data and systems to combating fraud and financial crimes. In the face of newer, more sophisticated threats, traditional protection measures are no longer sufficient. You need a proactive and multilayered approach to defend against internal and external threats. Having a solid technology strategy—and a trusted technology provider—will ensure the safety and security of your organization’s mission-critical data.
Improve the member experience
In today’s fast-paced, digital world, you might not get a second chance to make a good impression. In fact, a 2018 PwC study found that 32% of consumers say they’ll walk away from a brand they love after just one bad experience. With consumer expectations now higher than ever, it’s critical that you prioritize member satisfaction and provide a superior experience … every time.
Do this by supporting the financial health of your members. With a modern technology platform, you can easily redirect your members from disjointed third-party apps to one central location—your digital banking app—to give them a comprehensive view of their finances. This shift not only improves member loyalty, but also positions your credit union as a partner in their financial success.
Compete and grow amid disruption
The future is digital, and credit unions that invest in a future-ready technology modernization strategy will successfully compete, grow, and thrive in the ever-changing financial services landscape.
Jack Henry™ will be at America’s Credit Unions’ Governmental Affairs Conference (GAC) in March. Visit booth #731 to learn more about choosing the right technology provider to help you build a technology ecosystem that meets the evolving needs and expectations of your members—and positions your credit union as an industry leader.
For additional insights and resources, check out Jack Henry’s recent booklet, Connecting Possibilities by Reimagining the Technology Ecosystem. This is your guide to creating and implementing a technology modernization strategy to capitalize on ecosystem disruption.