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We all know how important it is to meet our members’ needs and build solid relationships with our valued customers - and having the right technology in place can mean all the difference. CreditandCollectionNews.com describes five key ways that technology can positively impact a credit union’s relationship with its members.

Technology can help credit unions:

1.     Provide an Outstanding Member Experience - Many people choose credit unions because of their exceptional and personalized service. As the latest technology is adopted into the business process, services become more streamlined to allow staff to spend more quality time with members. The results include improved outcomes, greater productivity and happier members.

2.     Implement Responsive Money Management - Online banking has significantly altered the way members do their banking and manage their finances. Most have come to expect exceptional digital services with little or no downtime and 24/7 support. Luckily, most credit unions are embracing this trend by offering a variety of apps, transaction portals and security options. After all, a credit union’s primary focus is member satisfaction and by providing an extraordinary user experience, both the member and the credit union’s success are well supported.

3.     Offer Robust Cybersecurity & Data Protection Options - Credit unions are discovering new ways to handle the mounting cybersecurity issues that come with growing technology use. Many are exploring digital tools to assist members with decreasing fraud, heightening their protection and managing their overall security to ensure safe online banking.

4.     Empower Members with Better Products & Services - Technology that embraces leading-edge innovation and solutions to deliver improved products and tools is revolutionizing the credit union industry. Such trail-blazing technology positively impacts the way members are serviced and ultimately leads to their empowerment. It only makes sense for credit unions to proactively lead the way by investing in online and mobile innovation and digital improvements to enhance their members’ banking experience.

5.     Gain a Stronger Understanding of Member Needs - As previously mentioned, may people select credit unions because they appreciate a personalized approach to banking. They favor financial institutions that demonstrate a clear understanding of their needs and provide tailored solutions to help them better manage their finances and achieve their goals. Thanks to technology, credit unions now know more about their members than ever before. This helps with creating personalized experiences and offering more effective tools that result in customer retention.

Sharetec is committed to helping credit unions build solid relationships by staying on the cutting edge of technology. Learn how our innovative core processing solution can help you achieve significant improvements in customer satisfaction and member loyalty at www.sharetec.com.

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