MeridianLink Live! User Forum 2024 brought together industry leaders, innovators, and stakeholders to explore impactful tech, share insights, and chart the course for the future of financial services. Here’s what we learned:
4 key takeaways for credit unions from MeridianLink Live! User Forum
1. Embrace automation for enhanced efficiency
Credit unions must leverage automation to streamline operations, expedite processes, and enhance member experiences. The forum emphasized the importance of integrating automated solutions into credit union workflows, enabling rapid loan approvals like with automated applicant verifications, accurate data analysis, and seamless member interactions.
2. Take advantage of digital tools
The next step after #1—Taking advantage of digital tools and platforms is a strategic need for credit unions seeking to adapt to changing member expectations and to drive efficiency. Not all credit unions will be able to build automotive systems on their own, but there are tools out there that can help. The forum highlighted the transformative potential of digital solutions, including online banking and member services, automated VOIE insurance verification, intelligent document processing, and more. Credit unions should embrace these providers to enhance accessibility, convenience, and accuracy of their product offerings.
3. Increase member engagement through personalization
In an era of heightened customer expectations, credit unions must prioritize member engagement and personalization to differentiate their offerings and foster loyalty. The forum emphasized the importance of leveraging data analytics, AI-driven insights, and omni-channel communication strategies to deliver tailored experiences that resonate with members' unique needs and preferences. By embracing personalization, credit unions can deepen member relationships, drive retention, and position themselves as trusted financial partners in the digital age.
4. Foster collaboration and innovation
Collaboration and innovation emerged as cornerstones of success for credit unions navigating a rapidly evolving landscape. The forum encouraged credit unions to embrace collaboration with industry partners and tech leaders, like MeasureOne, to share best practices, exchange insights, and drive collective innovation. Doing so, credit unions can explore new opportunities, co-create solutions that address emerging challenges and opportunities in the market, and drive sustainable growth and value for their members.
Empowering credit unions with enhanced consumer verifications
MeridianLink Live! User Forum 2024 provided a compelling glimpse into the future of tech automation solutions for credit unions. By leveraging innovative technologies and working with new partners, credit unions will unlock new opportunities, drive operational excellence, and elevate their member experiences.
With automated workflows to access data directly from the consumer (and at a lower cost all around), the decision to take advantage of automated VOIE and insurance verification is simple. MeasureOne is the partner that credit unions need to leverage all that consumer-permissioned data has to offer.
For credit unions, MeasureOne’s product offers:
- 14-day no risk free trial (and 90%+ cost-savings after the trial ends)
- Low cost, automated verification of income, employment, and insurance
- Data straight from primary sources (Payroll systems) ensuring fraud protection and up-to-the-minute accuracy
- 100% market coverage (over 7,000 supported payroll systems) driving industry leading conversion rates
- 100% accurate and deterministic document processing for uploaded W2s, income statements, and more to add to your waterfall of solutions.
- From income to employment to insurance verification, MeasureOne brings secure, transparent data to the table for the benefit of credit unions and their consumers.
Let MeasureOne help streamline your credit union’s operations and continue driving consumer confidence.