When you choose a credit union to do business with you want to feel like you are choosing a reputable credit union that is known for their exceptional member services, right? Member service and satisfaction should be the #1 priority for credit unions. In today’s world one of the biggest contributors to a member’s happiness is the speed and flexibility in which they can receive their service and access to their money and information. Delivering superior member service is hard to do when membership files and financial documents are being stored in massive filing cabinets, dusty file rooms, and in big storage containers. Having to fight this battle with locating information is hurting member experiences. Here are 5 ways that an Enterprise Content Management (ECM) solution will help increase member satisfaction and increase efficiency for your credit union:
1. Enhance Member Relationships
Credit unions must provide new, improved and more expedient services to expand and enhance member relationships while continually increasing operational efficiencies. Member service in the teller line and the call center will be vastly improved, as instant paperless retrieval of member documents helps to respond to member inquiries, immediately and subsequently enhances their experiences within the credit union. Furthermore, credit unions can provide members with access to documents such as check images, loan and investment statements via internet, enhancing the member experience and giving them the control of their own information.
2. Reduce Cost of Services
ECM enables credit unions to reduce or even eliminate the costs and inefficiencies associated with traditional paper-based document handling such as check images, loan documents, and investment statements. Furthermore, by scanning and archiving mortgage and consumer loan documents, transfer costs and associated delays related to shipping documents from one branch to the processing center are eliminated.
3. Realize a Rapid ROI
ROI is realized in both expense reduction an increased operational efficiencies. Elimination of microfiche, microfilm, and paper-based reports are measurable costs that contribute directly to a positive return. Additionally, other benefits include efficiencies gained from less labor required to process paper-based reports as well as better decision making by having instant access to information to provide immediate answers to member inquiries.
4. Increase Operational Efficiencies
By scanning and digitizing documents, an ECM solutions like OnBase provides immediate, simultaneous access to the most accurate and up-to-date information, enabling employees to accomplish tasks more efficiently and accurately. ECM eliminates lost and misfiled documents and provides instant access to member information.
In addition, by standardizing and automating manual tasks, your ECM solution will streamline processes such as check processing, signature verification, statement generation and distribution, loan processing and portfolio management.
5. Adhere to Regulatory Compliance
ECM Workflow ensures that policies and procedures are standardized and enforced. You will be able to inherently track the complete document history and process audit trails allowing your credit union to manage compliance requirements.
ECM is the perfect solution for credit unions wanting to maximize member services and reduce costs. Please contact us for the complete list of ECM benefits that will help you improve your member satisfaction and increase your efficiency.