4 Ways Core Technology Can Enhance the Member Experience

Your credit union’s core technology intrinsically is tied to the member experience. It’s also an essential element in building and sustaining your membership base. If your technology isn’t accessible, intuitive and innovative, you might lose members to another financial institution that is more focused on developing cutting-edge, dynamic solutions that add value to the member relationship.

If you want to retain members and spur growth at your credit union, ensure your core:

1. Seamlessly integrates proprietary and third-party solutions. At EPL, our technology solutions are built on a modern, open-architecture system. Our proprietary products provide a streamlined experience for your members, creating efficiencies for them as well as your credit union. Both our robust selection of modular proprietary solutions and ability to connect seamlessly to third-party solutions allows you to provide a custom and unique solution for your members and boost your suite of products. As a credit union, you must remain cognizant of industry and technological trends to stay ahead of the curve. Giving your members access to the best tools the marketplace has to offer is key. 
2. Empowers members with a comprehensive view of their finances. Core software should allow members to access a clear picture of their current financial state, as well as provide the tools to decide how to budget and spend their hard-earned money, take out loans, etc. Members choose credit unions because of the personalized experience they provide. It’s up to you to give them the data they need to make informed decisions and help guide them on their way. 
3. Educates members on products and services that meet their needs. Your software should be used as a tool for your credit union to cross-sell your suite of products and services to your members. Leveraging data from your core solution to tailor recommendations and service offerings keeps them engaged and aware of what your credit union can provide. The first step in getting members to utilize an additional product is education. Data that analyzes member spending options, and this behavior can help you discover new ways your credit union can serve them. 
4. Recognizes and rewards your members. EPL recently implemented a new Relationship Pricing model, which is mutually beneficial to the credit union and its members. Loyalty programs increase customer engagement with financial institutions by providing incentives for them to utilize more services and get involved. At the credit union level, a loyalty program can build a sense of community. You can leverage these programs to reward your members for their business and educate them on different products and services, helping them achieve their financial goals and increasing overall satisfaction. 

Does your core software enhance the members experience at your credit union? Make sure you have the technological systems in place to keep them coming back. Your credit union’s vitality depends on it. 

Robin Kolvek

CEO

EPL, Inc.

2017 PAT Conference in Review - 5 Key Takeaways

Our Product Advisory Conference, which took place in Denver last month, gives us the opportunity to share new products and initiatives that demonstrate how we are staying on the cutting-edge of software development. It is also a platform for our customers to give feedback and acquire knowledge from their credit union peers. This year’s theme was “Evolve Constantly. Perform Exceptionally. Lead Boldly.” These three tenets represent the core of what we do at EPL as an industry-leading software development and services company.

While many great achievements were covered, new initiatives planned and wonderful experiences shared, we simply don’t have the space to recap it all here. So, here are EPL’s top five takeaways from what was surely the best conference yet!

1. Progress on the product roadmap. We were pleased to show substantial progress on our product roadmap, which will provide our customers with the solutions they need to remain competitive in the marketplace. Together with Dedagroup, we are developing innovative software solutions and unlocking new opportunities through partnerships with organizations like Juniper Payments, LLC. Our new, innovative General Ledger, robust Relationship Pricing package, new In-House Credit offering, CUe-Branch online and mobile banking upgrades, Teller Operational efficiencies, User Interface enhancements, OFAC/FinCEN and our new EPLOS lending solution are just a few examples of the latest and greatest things happening at EPL. We shared even more robust i-POWER® and proprietary solution updates, including a 188% increase in development!
2. Client responsiveness. We are actively listening to our clients’ needs and responding accordingly. We evolve our products and services constantly to meet the demands of our clients and the marketplace. EPL is dedicated to developing solutions that empower credit unions of all sizes with software that improves member experiences and drives real growth.
3. Culture of collaboration. We are focused on a culture of collaboration within EPL, as well as with our customers. The Product Advisory Conference provides a unique opportunity for credit union leaders to share ideas and gain new insights on what is working for them in the industry. By working with our partners at Dedagroup, we will continue to enhance our software, expand our services and create new efficiencies.
4. Security and compliance agility. We provided a security and compliance update that informed our customers how we are staying abreast of compliance issues in the industry, including the Credit Bureau Furnisher Data Reporting changes. We want our clients to know that we are anticipating industry shifts as well as security concerns by sharing key initiatives and actions we are taking to comply with industry regulations.
5. Position as a global company. Finally, we shared how we – EPL and Dedagroup – are driving a collaborative, inclusive, take-action culture. We are leveraging expertise from our organization and partners to develop comprehensive solutions for EPL’s clients. This effort spans across the globe, from our resources in the U.S. and Mexico to Italy. Along with our partners Dedagroup, Juniper Payments, LLC, we are accelerating the delivery of quality solutions.

EPL is excited about the positive impact we are making while serving our customers and their members. We look forward to continued collaboration as we develop software solutions that meet emerging needs and position ourselves for an extraordinary future together.

Robin Kolvek

CEO

EPL, Inc.