PLEASANTON, Calif.-Before the credit union develops plans to add new technology to drive operational efficiency, the CU should first maximize the potential of its core system.
David McConney, EVP and general manager for Harland Financial Solutions here, reminded that a credit union's core system often offers a great deal of untapped capability. "It's the old story of the Outlook application and how much of it do you use to benefit your activities?"
McConney said Harland has been spending a lot of time with its credit union clients on this topic. "We are looking at areas such as process automation. What are you doing from a systems' perspective to release the power of the solution and to reduce the need for operators to sit and watch transactions occur or systems run?"
It also means understanding how the system can help the credit union deliver 24/7 capabilities to drive convenience as well as efficiency. "It's making the full functionality of the system available to your membership, and it's leveraging self-service channels," McConney said. "It's also about how do you integrate brand marketing into a delivery strategy that is not just bricks and mortar, but is focused on providing members with the ability to help themselves at a time convenient to them."
The approach has been helping Harland customers, McConney added. "As we line our clients up against national efficiency ratios, our clients are running 2 to 4 percentage points better than the national averages. And that's significant dollars in the bank - and in this case, dollars in credit unions."
For info: www.harlandfinancialsolutions.com
